ANZ analysts note that New Zealand’s nationwide, house prices were up 1.3% m/m in August, to be up 0.6% q/q, while annual house price inflation rose to 2.1% from 1.7%.

Key Quotes

“Consistent with recent trends, Auckland house prices underperformed the broader market in August. Auckland house prices were up 1.0% in the month, to be down 2.6% over the past year. In the rest of New Zealand (ie ex-Auckland), house price inflation rose a solid 1.4% m/m. This saw annual house price inflation pick up to 6.8% y/y from 5.9% in July.”

“While prices were solid in August, we did see house sales pull back, consistent with weak listings. We estimate seasonally adjusted house sales fell 7.5% m/m in August, more than reversing the 6.6% m/m bounce in July. Annual sales growth did increase to -0.1% y/y (3mma) from -0.4% in July.”

“The housing market tightened in August to around its historical norm.”

“The notable boost to house prices in August may reflect support from lower mortgage rates over the past year, but the reversal in sales activity supports the view that the market is unlikely to take off substantially from here. While we expect the market to remain subdued overall, there is a risk that recent drops in mortgage rates do prompt a reignition in the housing market.”


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD struggling to hold onto 1.10 as USD gains ground

EUR/USD is trading close to 1.10, as the US dollar gradually advances. Two White House advisers expressed contradicting accounts of US-Sino trade talks, causing confusion. Germany refrained from adding fiscal stimulus.


GBP/USD trades around 1.25 as EU pours cold water on Brexit hopes

GBP/USD is trading around 1.25, off the two-month highs of 1.2582 as EU officials cast doubts about the seriousness of the new UK proposals on Brexit. 


USD/JPY drops to one-week lows on trade war headlines

The USD/JPY fell during the American session following reports that the Montana Farm Bureau said China's delegation has canceled a planned trip to view US agriculture.


Gold climbs further beyond $1500 mark, lacks follow-through

Gold edged higher for the second consecutive session on Friday, albeit remained well within a familiar trading range held over the past two weeks or so.

Gold News

Top 3 price prediction Bitcoin, Ripple, Ethereum: Ethereum points to the Moon as Bitcoin takes a break

ETH/USD exceeds $220 and is bidding to lead the market. Bitcoin sets a bear trap and recaptures $10,000. XRP stalls between technical levels and fails to consolidate $0.30.

Read more