REINZ housing data appears to show the NZ housing market at a turning point, with prices largely flatlining and activity metrics warming, albeit from still weak levels.

Broader housing market drivers are also looking more supportive for prices, with solid net migration, supply indicators stabilising and mortgage rates look like they are close to peaking.

Nationwide house prices look set to edge higher given key support factors, but we don’t expect prices to gallop away given stretched affordability.

Read full ASB Economic note here

Source: ASB