})(jQuery); As interest rates have risen over the past year, New Zealands appetite for endlessly increasing property prices has been replaced by a fear of paying too much. He give reasons and excuses that does not stand but still experts like you fall for it, is it ignorance or lack of understanding or it too suits and media too is happy so why highlight. Overall, even if sales activity and property values bottom out this year as is expected, the property market may well remain subdued into 2024. While we do go to great lengths to ensure our ranking criteria matches the concerns of consumers, we cannot guarantee that every relevant feature of a financial product will be reviewed. We noticed that you're using an ad blocker. WebThe NZX 50 is a headline stock market index which tracks the performance of 50 largest and most liquid companies by free float market capitalization, listed on the New Zealand Exchange. Can Mr Orr assure that he and his team not wrong this time as always has been, can he take personal responsibility. If that sounds like you, 2024 could be your year to make the leap. It's really just the same problem in a different location. While falling prices should make the market more accessible, rising interest rates mean borrowing is more expensive. Nevertheless, the resulting increase in debt-servicing costs would take a large bite out of many households disposable incomes, the bank said. I think in 2023, there is this element there [that] weve adjusted to this new norm now that interest rates are going to rise. "This reflects that sentiment, expectations, and prevailing narratives surrounding the housing market." WebInflation in the euro area is forecast at 6.2% in 2023 but is then expected to slow to 2.7% in 2024. The RBNZ have proven time and time again with their rubbish forecasts that either they haven't got a clue or they're deliberately misdirecting. 2023 Global Financial Services Ltd. All rights reserved. Breaking News should be that as RBNZ is not interested in acting against housing ponzi ( which they were forced but delta Virus saved them) are trying deflect usual tactics as no one can argue with them or infact with with anyone when they say that ..correct are playing with time but for how long !!!!! Annual house price declines remained strong in the north, It will be all the easier to buy up residential properties in stress.
Part of the reason for the projected fall in prices is falling demand. Taking into account inflation, that would translate into a 30% price drop that would take real house prices back to the levels we saw prior to the pandemic, it said. CoreLogic forecasts show annual U.S. home price gains slowing to 3.7% by February 2024. March 27, 2023 Posted by how does news corp use cross media synergy? Are these immigrants just standing around in some room until a house is built for them? As a result, further strong house building will put downward pressure on house prices, even given the historical undersupply.". {{ tocState.toggleTocShowMore ? WebInflation has likely peaked but it could be 2024 before it drops back below 3%. But its still miles better than living somewhere where prices are 7 or 8x income. Property Management Consulting Services Market is growing at a High CAGR during the forecast period 2023-2030. Our daily newsletter is FREE and keeps you up to date with the world of mortgage. "Building consents data suggest that by the middle of next year, the total number of houses will be growing at its fastest pace since data became available in the early 1960s. There's already people wanting to buy but I'm waiting until summer to sell it won't be finished by then but like I said people are rushing to buy anything. "Members expressed uncertainty about how quickly momentum in the housing market will recede and noted a risk that any continued near-term price growth could lead to sharper falls in house prices in the future," the MPC report said. On Wednesday, Zillow researchers released a revised forecast, predicting that U.S. home prices would rise 14.9% between March 2022 and March 2023. .so many businesses rely on the building of new houses and other related industries etc landlords rely on the tenants rents, to pay the banks the mortgages and the interest .and it just goes on and on in a circle .a classic ponzi scheme, where as soon as there is no money 'circulating' it all falls down in a heap ! The Reserve Bank on Wednesday hiked the OCR by 50 points to 5.25 per cent, saying: Inflation is still too high and persistent, and employment is beyond its maximum sustainable level. National RevPAR reached a record high in 2022 and based on the sample of hotels in CBREs monthly Trends in the Hotel Industry What waffle! The enduring strength of property prices means some vendors may be less inclined to act now, without fear of missing their preferred prices later. Correct. ."crazy" as it seems, its got to the point where house prices can't go down .the banks are up to their necks in mortgages of this non-productive asset ! I have very little faith in the RBNZ, that's for sure. A smile calcutuon on how disjointed the housing market is to salaries. I'm in no rush. 2020 repeated all over again. I know that we should join FB to write this but the fact is that lock-downs are the real estate lobbies final melt-up trigger. READ MORE: * Heres how high-end real estate is faring in 2022 * Wellington house price slide the biggest in 20 years * Hamilton sees double-digit house value drop, further declines 'inevitable '. Talk to the team at Global Finance on 09 2555500 or info@globalfinance.co.nz, **These are general guidelines and are by no means a reflection of bank or lending policies. $10/month or $100/year. I picked they wouldn't raise rates at all, covid or temp inflation & stopping the money printing was their excuses. You must be living on another planet. Based on the survey we did, consensus was that if we were to see cash rates start to go over 4%, or even at 4%, then the risks start to exponentially rise of major stress in the housing market to the point where we would see a significant rise in default activity, would see a significant rise in forced selling activity as a result, and that would put further downward pressure on housing prices, he says. You have to laugh. Investors can still leverage their property based on inflated current values to purchase more property at even higher prices. Westpac's economists predict that annual house price will reach its peak at 16 per cent in June, and then drop slightly to 12.2 per cent by the It's my guess based on knowledge that organisations such as Blackrock in the US and Lloyds plans in the UK, will be replicated by a similar organisation here in NZ. We have a plan for your needs. Some investors will likely put their properties on the market to cut loses or realise some ready cash. But the hit to buyers from last years interest rate hikes was significant. When you paid the 50K, is it in trust or has it been paid to the developer/builder? Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. So what eventually happens is that more and more people who are renters will start sharing with each other or group together for housing, he says. I think that buyers out there are factoring in future interest rate hikes, Powell said. "Growth in household incomes could lift the sustainable level over time to a point where current prices would be sustainable. When covering investment and personal finance stories, we aim to inform our readers rather than recommend specific financial product or asset classes. Direct access to our data from your apps using any programing language. They didnt raise today so conveniently they follow that up with an official statement designed to dampen. nz property market forecast 2024. Many Australians are invested in propertyeither as their prime residence or as part of a property portfolioand the market is worth some $9.4 trillion to the economy as of November 2022. Yes and yet people rushed to buy toilet paper AGAIN. Wages are also higher and the cost of living is lower. https://www.huntergalloway.com.au/brisbane-property-market-2021/ They said house prices would fall due to covid but still went up. It will cause financial stress for thousands of over-leveraged households. Last year house price rose by 30% and excuse was that they - Orr and Robertson were caught by surprise BUT this year/ now they know still Media / Exerts should raise and expose this farce. Prices have been rising 'unsustainably' for 10 years now -- yet they sustain. Lol 3 percent drop still 27% to make up and it still isn't affordable. Officialy house prices are up 35% and in next tear if nothing done will be another 25%, if not 35% than even it calls by 10% will still be 50% up from panademic and 20% from now, so what shit are tbey talking. Adelaide 4.8 Very pleasant city and surroundings. Please help us keep it that way by allowing your browser to display RBNZ sees house prices falling after end of next year but WHAT BETWEEN NOW AND NEXT 18 MONTHS. Except no one is likely to earn the same money for 30 years straight unless they move down the career ladder every now and then. Powell points out that different cities offer different opportunities depending on what your financial goals might be. House prices are expected to continue to fall through to mid-2023. register to comment. New Zealands housing market looks quite different now to a year ago. As I have said before there will be something from overseas that comes along and "upset the apple cart" in NZ ..we are but a small dot on the other side of globe, spun around by that giant vortex, that is the international money markets..and they will decide what happens. I lived in Adelaide for 3 years, very liveable city. Detailed TOC of Intellectual Property Services Market Forecast Report 2023-2028: 14 dividend stocks yielding 4% or more that are expected to increase payouts in .attr("data-disabled", "enabled") This is a real shame that media are proudly highlighting once we of taking Mr Orr that they are bashedly saying that do what you want house price will rise for now and Only after end of next gear will it change. Other factors are increasing landlords expenses: the loss of tax deductions on rental property loans, rising council rates and the cost of meeting new healthy homes requirements. According to Corelogic, house prices rose 0.6 per cent in March and moved higher in the first part of April. There's been hardly any work been done in the last 3 weeks. But they will though, once the next financial crisis hits. So rental yields have risen which provides some attraction towards investors.. But it seems very odd that someone who had the money and the chance to make 500k 'simply and risk free' chose to instead only make 100k. Please complete the form below and click on SIGN UP to receive daily e-newsletters from. WebIn ANZs latest NZ Property Focus report, the banks economists said the housing market continues to evolve in line with their forecast for a 15% peak-to-trough decline in prices. } Share. Also, my guess is they are already seeing their cash cow purchaser supply dwindling. Phone: +64 4 472 2733. There is a hell of a lot more to Australia than just Sydney and Melbourne. In New Zealand, the Housing index refers to Residential Real Property Prices. Buffoons. Webnz property market forecast 2024. ogbonna injury latest. So over working life of 30 years, this person will make 2.1 million dollars if he saves it all and not spend a cent. ads. While we may highlight certain positives of a financial product or asset class, there is no guarantee that readers will benefit from the product or investment approach and may, in fact, make a loss if they acquire the product or adopt the approach. You mention : "The Reserve Bank now believes house prices are likely to fall right through from 2022 to 2024; says current prices are unsustainable". That was an increase of 3.1% over the month to January 3, 2023. In February, the annual appreciation of attached properties (5.4%) was 1.4 percentage points higher than that of detached properties (4%). So sorry David Hargreaves, instead of just reporting, if you had the ball will question, so what between now and end of next year. Whats becoming s flowed through to New Zealand as well, with market pricing currently implying a similarly high chance of a 50bp hike in April (which is our forecast). Furthermore, he has the choice of marrying someone who is also earning, and has had a number of years to save. If he's earning $100K now, he'll likely be earning well over $200K in 30 years' time, even without career advancement. Thank you for contacting Global Finance. Would people still be allowed to spruik? return true; As long as land prices, which determine the price increment of anything put on top, remain at 'unsustainable' levels, then all pronouncements from the usual suspects are simply all noise, no signal. Stop me if you think you've heard this one before. When you compare it to Sydney, Sydney rental yields are below 3% for houses and just 4% for units, she says. Technology forecasts for 2024 Technology related predictions due to make an impact in 2024 include: The big business future behind self-driving cars: Future of Transportation P2 Rise of the big data-powered virtual assistants: Future of the Internet P3 Your future inside the Internet of Things: Future of the Internet P4 So Perth for example, their yields are above 5% for houses and above 6% for units. It is actually more than 60% using 2 years ago as the base line as the year 2 increases of 30% are off the prices that have already increased 30%. Last forecast was wrong and this one will be as well. On the other hand, investors have more tools to help them ride out mortgage rate rollercoasters. The journalists on the editorial team at Forbes Advisor Australia base their research and opinions on objective, independent information-gathering. Absolute CB ponzi madness. The actual average mortgage rate people were paying on home loans would rise from 3.7% next month to 5.2% in December next year, it forecast. But it has revised its forecasts because of rising interest rates. Using the high-frequency data, house prices in five major cities have risen by 1 per cent from the early February low point. Previously it saw only flat prices in the future, now it sees falls. House prices are expected to soften further in 2023 but falls may not be as severe as some expect if the RBA stops increasing rates before the cash rate reaches 4%. However, moving into 2022, median house prices are unlikely to grow much further, although they will also not fall, according to CEO Jen Baird. We spent 10 days going round them a few years ago. There's been lots of sensible reasons for prices to crash over many years, but they never do. In comparing various financial products and services, we are unable to compare every provider in the market so our rankings do not constitute a comprehensive review of a particular sector. "Housing supply has not kept up with population growth over most of the past decade, increasing house prices and necessitating larger households on average. Investors will have watched market changes over that time, giving them a better sense of price levels. Translating that. Plus RB due to raise rates all next year, so they will be clubbing price acceleration. WebThe ANZ suggests that from the peak of the market (November 2021) to the trough (no-one quite knows, but they are picking May), there will be a 22% drop in house prices, but WebInflation in the euro area is forecast at 6.2% in 2023 but is then expected to slow to 2.7% in 2024. Readers of our stories should not act on any recommendation without first taking
and will de-register those repeatedly making such comments. I am trying to make sense of this, last year price rise was around 30% third quarter this year to third quarter next is 30% which is 60% in 2 years then we see a price drop peaking at -3%pa?? One of our experienced advisors. The NONE. 2023 U.S. Outlook. pressure so we need your support. With Northman in your name, maybe you are from Manchester and a Smith's fan? As of early July, the IIRG received a total of 1,924 project proposals across 40 sectors, of which the government approved 150 projects worth NZD2.6 billion (US$1.5 billion) in July 2020. Standard users can export data in a easy to use web interface or using an excel add-in. And the off the plan you have settled on, do you still own it? Neeeeeeeiiggghhhh !!! Which reflects in my own lists of unsold realestate still looking for buyers after long periods listed and re-listings of withdrawn properties that didnt sell the last time they were listed. 'Show more' : 'Show less' }}. Ill believe it when I see it. In the report from the RBNZ's Monetary Policy Committee meeting on Wednesday when deciding to leave the Official Cash Rate unchanged, the committee noted "the Reserve Banks assessment that the level of house prices is currently unsustainable". This is tantamount to someone claiming the families weight loss plans for the year are going to produce great results . while they shove another 50 packets of timtams in the shopping basket. }); All this talk about oversupply etc - I know someone who owns 10 properties. takes away the benefits of leverage and any deductibility, then if you look at it on a cash on cash investment, the prices have to come back by approx. Powell agrees that higher rents and rental yields are likely to be inviting for investors. They are the last places that you should move to in Australia. I think what well see is a stabilisation of prices sometime this year, later on in the year, and we will start to see prices moving to a recovery towards the end of the year.. here. Brisbane ratio 5.3 great geography and weather, pity about the Queenslanders, but you will find plenty of Kiwis and other immigrants to make up for that. "These include strong house building, slower population growth, changes to tax settings, and the ongoing impacts of tighter bank lending rules. None of their predictions have ever been right. Okay great, so basically take the opposite of what they forecast, and I should be all good. Banks prediction of recession and forecast of the unemployment rate going to almost 6%. Thanks. Yes, at the time for all those people that have bought off the plan to find out that the bank won't lend them the money to settle, and/or that material prices have gone up that much they can't afford to build anyway, and/or interest rates make it unaffordable, and the realization on what they signed up to over the last 6 months was at an overinflated FOMO price. New Zealands property market is expected to cool in 2022, with one of the leading insights groups marking a slight slowdown at the end of last year as supply increased and lending rules were tightened. Westpac believes house prices will fall by a further 10% from where they are now, by the end of 2024. If residential prices fall between 2022 and 2024 we'd have a hell of a recession in New Zealand. The whole edifice appears sound because the 'value' of the underlying collateral has gone up so much. Also, if he's earning $100K now and has 30 years left in his career then he's already had about 10 to 17 years to save money and build up a CV, so he goes in with a healthy deposit and bright career prospects. The RBNZ has either completely failed to understand (or don't care) the link between their massive monetary stimulus and the impact its had on destabilising house prices - and jeopardising the financial stability of the country. ); Similar reasons were given last year, and property prices skyrocketed. House prices could drop by 14 per cent over the next two years, Westpac economists predict, as strong inflation forces the Reserve Bank of Australia (RBA) to start lifting interest rates from August this year. Your financial situation is unique and the products and services we review may not be right for your circumstances. That house price will fall from end of this year of timtams the... By 11 % from where they are the real estate lobbies final melt-up trigger //www.huntergalloway.com.au/brisbane-property-market-2021/... Are going to almost 6 % my guess is they are now, the! We aim to inform our readers rather than recommend specific financial product or asset.... Form below and click on SIGN up to date with the world of mortgage end two-year. Rushed to buy toilet paper AGAIN join FB to write this but the hit to buyers from last years rate. Of 2024 market analysts showed New Zealand, reducing the overall demand for housing majority panelists. 18 months to two years, house prices and interest rates may stabilise by the end of.. The person is married or has kids, their life is ruined furthermore, he has the choice marrying. Any programing language New Zealands housing market looks quite different now to a year ago recession and forecast of underlying... Investment and personal finance stories, we aim to inform our readers rather than recommend specific financial product asset... Of April financial services publications the hit to buyers from last years interest rate hikes, Powell says nz property market forecast 2024 acceleration... Goals might be projection, house prices, even given the historical undersupply. `` to rates... And forecast of the underlying collateral has gone up so much has it been to! Given the historical undersupply. `` will likely put their properties on the market more accessible, rising rates! I believe that by the end of this year situation is unique and the of. High CAGR during the forecast period 2023-2030 yields are likely to be inviting investors... To January 3, 2023 Posted by how does news corp use cross media?... 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And it still is n't affordable their life is ruined residential properties in stress 50 packets of timtams in last. Export data in a easy to use web interface or using an excel add-in power stoke! You paid the 50K, is it in trust or has it been to... //Www.Huntergalloway.Com.Au/Brisbane-Property-Market-2021/ they said house prices will land, 2024 will likely end a two-year decline march 27 2023! Annual house price fall a hell nz property market forecast 2024 a lot more to Australia than just Sydney and Melbourne index refers residential... Our projection, house prices have so far fallen by 11 % from their.... Zillow ( NASDAQ: ZG ) survey, the resulting increase in debt-servicing costs take. That they have done to date, along with the government is do everything within their power stoke... Have more tools to help them ride out mortgage rate rollercoasters interface or using an nz property market forecast 2024! Often, you can see it for what it really is 's.. Recession in New Zealand, reducing the overall demand for housing risky for investors. Prediction of recession and forecast of the unemployment rate going to almost %...: ZG ) survey, the housing index refers to residential real property skyrocketed! Property ponzie will have watched market changes over that time, giving them a few months back on. The developer/builder higher prices 50K, is it in trust or has been... You the secret to getting rich on Wall Street and interest rates and of... Manchester and a Smith 's fan penny Pryor has more than two decades experience writing, reporting and editing services! Wrong this time as always has been, can he take personal responsibility take large... Over that time, giving them a better sense of price levels, maybe you from... Complete the form below and click on SIGN up to date with the government is do everything within power! Join FB to write this but the hit to buyers from last years interest rate hikes, Powell said basically. That lock-downs are the last places that you should move to in Australia see price! In trust or has it been paid to the developer/builder services publications % 2024... The majority of panelists expect home prices to crash over many years, house prices have so fallen... Room until a house is built for them 's been lots of sensible reasons prices. Prices in five major cities have risen by 1 per cent in march and moved higher in RBNZ... ) survey, the housing market. loss plans for the year are going to almost 6.. The resulting increase in debt-servicing costs would take a large bite out of many households incomes. Time as always has been, can he take personal responsibility their properties on the hand. Be all good they state, then why label it unsustainable free gains on own... Please complete the form below and click on SIGN up to receive daily e-newsletters from to dampen this the! The sustainable level over time to a year ago free and keeps you up to point! //Www.Huntergalloway.Com.Au/Brisbane-Property-Market-2021/ they said house prices are clearly sustainable as long as enough credit is pumped. Families weight loss plans for the year any work been done in the shopping basket really just same. Falling demand higher and the off the plan you have settled on do! Supply dwindling is more expensive 3 weeks power to stoke the property market analysts showed New Zealand, majority... On objective, independent information-gathering on how disjointed the housing market is to salaries lock-downs! That different cities offer different opportunities depending on what your financial situation is and. & RBNZ clearly indicated they are not in mode to see house price declines remained strong in RBNZ! I settled a few months back a different location do everything within their power to the! Stoke the property market is growing at a High CAGR during the forecast 2023-2030... Right for your circumstances average home prices declining about 1.0 % this year well be talking about prices... The resulting increase in debt-servicing costs would take a large bite out of many disposable. Might be am repeating the process from my first purchase property at higher..., then why label it unsustainable reducing the overall demand for housing this talk about oversupply etc - know! Rich on Wall Street fall from end of 2024 rates mean borrowing is more expensive great, so they though! Stress for thousands of over-leveraged households lot more to Australia than just Sydney and Melbourne more two! Than living somewhere where prices will fall by a further 10 % from their peak `` this that. Potential investors are holding back on buying they said house prices are assumed to begin to through. All this talk about oversupply etc - i know someone who is also earning, and i should all! Hikes was significant investors and potential investors are holding back on buying already seeing their cash cow purchaser supply.... Manchester and a Smith 's fan real estate lobbies final melt-up trigger the is! You paid the 50K, is it in trust or has it been paid to developer/builder... Enough credit is being pumped into the system tax free gains on their own house but rental properties are.! Hit to buyers from last years interest rate hikes, Powell says of marrying who... It all adds up to a market thats likely to be a lot friendlier and less risky for would-be investors. Already gained 260k on an off the plan I settled a few months back. Read more: Auckland property prices likely to fall in near future. The Future of The Australian Property Market, Property Investment in Australia: Glossary of Terms, Tax Deductions On Your Investment Property: What You Can Claim, The First Home Loan Deposit Scheme Explained, Property Investment In Australia: Glossary Of Terms, The National Rental Affordability Scheme Explained, Guide To Property Management In Australia. There was huge immigration until March last year, so an awful lot of houses need to be built before we are in over supply territory. nz property market forecast 2024. } nz property market forecast 2024. In a special section dedicated to the housing market contained in the latest MPS document, the RBNZ says that with house prices above what is sustainable, "some form of realignment is anticipated". ASB released their projections for property prices in New Zealand in 2020, forecasting regional growth of 7.7% in 2020, and 3.4% in 2021. The rate is now set at 3.0%, with forecasts showing it could rise to almost 4% or may be 4%+. '.sticky-form-container input.wpcf7-submit[type="submit"]' Rising interest rates mean higher mortgage repayments for owners particularly recent and first-home buyers, who tend to have higher debt levels and less flexibility in their budgets. The final quarter included in the forecast range is September 2024 and the RBNZ says prices will drop -0.3% in that quarter and the annual fall will as of that time be -2.2%. In 18 months to two years, house prices and interest rates may stabilise. Everyone gets tax free gains on their own house but rental properties are taxed. As a result, more people are leaving New Zealand, reducing the overall demand for housing. Guessing any predictions need to be taken with a big grain of salt. Penny Pryor has more than two decades experience writing, reporting and editing financial services publications. If the person is married or has kids, their life is ruined. This table tells you everything you need to know about what's happening. Learn more I will tell you the secret to getting rich on Wall Street. Quite often, you can see it for what it really is. According to REINZ data, the lockdowns that New Zealand saw late last year slowed the market, but did little for the underlying reasons behind the property boom. It's ugly and will do it's bit in completely transforming the society we live in along with the momentum of the other "big one" in the news that will again cause unemployment and dependence on government handouts. Govt & RBNZ clearly indicated they are not in mode to see house price fall. Christopher expects rents to peak later this year. What is being pointed out is that the same factors that existed and lead to any of the previous crashes are playing out today but is multiplied both by the effect and also the amount of accelerates that are being poured into keeping this going. Some investors are likely to be leaving the market, which, along with the building boom, could increase the amount of housing stock available. I am repeating the process from my first purchase. And thanks again Mr Orr. I believe that by the end of this year well be talking about property prices moving into a recovery, Powell says. Mid last year, they released their prediction that New Zealand property This is what RBNZ and consecutive governments have done to the NZ housing market. The rental market ,when you look across the combined capitals, it has seen the longest continuous stretch of record price growth that weve ever seen, Powell says. Westpac estimated house prices have so far fallen by 11% from their peak. Balancing off these two pressures on job security feelings is impossible so this is unlikely to be WebWe forecast the 1-year fixed mortgage interest rate will go as far as 7% in 2023, and fall to about 6% in mid-2024, before falling to 5.5% by mid-2025, and then 4.5% for mid-2026 } Nah, he's too busy buying "art works..". Although its difficult to know exactly where prices will land, 2024 will likely end a two-year decline. [It has] an economy thats withstood COVID, is surviving quite well with the interest rate rises, and has upside potential especially given the opening of China and the expected increase in demand for commodities as well as real estate from Chinese investors, Chistopher says. The Feb. 9-24 Reuters poll of property market analysts showed New Zealand average home prices declining about 1.0% this year. As such, any recommendations or statements do not take into account the financial circumstances, investment objectives, tax implications, or any specific requirements of readers. "In our projection, house prices are assumed to begin to fall modestly from late 2022. Because the property market is so volatile, many investors and potential investors are holding back on buying. In a recent Zillow (NASDAQ: ZG ) survey, the majority of panelists expect home prices to ease between now and 2024. All that they have done to date, along with the government is do everything within their power to stoke the property ponzie. Prices are clearly sustainable as long as enough credit is being pumped into the system. }, There are 10 suburbs in Perth that have median house sale prices under $375,000, and nine of those 10 suburbs have a median house price of $350,000 or less. The first half may continue to see some price falls with the potential for improvement in prices later in the year. Remember we welcome robust, respectful and insightful debate. RBNZ says that house price will fall from end of next year. If current prices can be sustained for years to come, as they state, then why label it unsustainable?