ZB

Tony Alexander: Housing Market Slows and FOMO is gone

Author
Newstalk ZB,
Publish Date
Wed, 15 Jun 2022, 2:09pm
(Photo / NZ Herald)
(Photo / NZ Herald)

Tony Alexander: Housing Market Slows and FOMO is gone

Author
Newstalk ZB,
Publish Date
Wed, 15 Jun 2022, 2:09pm

House prices continued to fall through May and are now off around 6 per cent since their peak last November, according to the latest figures from the Real Estate Institute (REINZ).

Annual house price growth has now slowed to just below 4 per cent.

Sales were down 28.4 per cent on a year ago (seasonally adjusted).

The median number of days to sell at 40 days ticked over the long-run average of 39 days.

Independent Economist Tony Alexander joined Simon Barnett & James Daniels and told them he can't rule out a major decline in house prices.

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