'Foolish': Property commentator on house price predictions

Author
Newstalk ZB,
Publish Date
Thu, 27 May 2021, 2:36PM
(Photo / NZ Herald)
(Photo / NZ Herald)

'Foolish': Property commentator on house price predictions

Author
Newstalk ZB,
Publish Date
Thu, 27 May 2021, 2:36PM

There is a prediction that house prices won't rise much from here.

The Reserve Bank is forecasting zero upward price movement for the next year from June onwards.

The Reserve Bank announced yesterday they are keeping the Official Cash Rate unchanged at a record low 0.25 percent, but point to increases sometime next year.

The Treasury is expecting house price growth between 2021 and 2022 to be 0.9 per cent.

It jumps slightly to 2.1 per cent the next year, 2.1 per cent the year after that, and 2.5 per cent between 2024 and 2025.

One Roof commentator Ashley Church told Kerre McIvor he thinks that putting such specific figures on these predictions is dangerous.

"It's an extraordinary thing to do; I'd go as far as to say I think it's a foolish thing to do."

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