REINZ data tracking the housing market in New Zealand.
- prices -2.8% m/m in July
- prices -1.6% y/y
- sales -36.7% y/y
The housing market in NZ has taken a hit from rising interest rates. The Reserve Bank of New Zealand was very early to the inflation-busting rate hike game. (And for clarity, the hikes have not busted inflation yet).
RBNZ Governor Orr
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