ANZ analysts estimate that New Zealand’s seasonally adjusted house sales fell 0.8% m/m in June, following a 1% fall in May.

Key Quotes

“Annual sales growth ticked up to -6.1% y/y, which suggests some stabilisation in house sales at a low level.”

“Nationwide, house prices were up a soft 0.1% m/m in June, but have fallen 0.7% q/q. Annual house price inflation dipped to 1.6% from 1.8%. The theme of regional divergence continues, with Auckland house prices underperforming the broader market in June. Auckland was down 0.2% m/m and is down 3.7% over the past year.”

“Recent prints suggest that the substantial falls in fixed mortgage rates over the past year and the ruling out of the capital gains tax are not providing a noticeable boost to the market. We expect the market to remain subdued overall, with house price growth around 3% over the next few years.”

 

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: bears pressuring, 1.0980 critical support

Risk aversion took over the FX board on Friday, weighing on high-yielding assets. The EUR/USD pair, finished the week just a handful of pips above the 1.1000 figure amid mounting tensions between the US and China.

EUR/USD News

GBP/USD: at risk of losing more ground in the short-term

The GBP/USD pair advanced up to 1.2581, it highest in over two months, but was unable to sustain gains, ending the week around 1.2470. Cable could keep losing ground on a break below 1.2460, the immediate support.

GBP/USD News

USD/JPY: at a bring of breaking lower

Fresh risk-off flows resulted in the USD/JPY pair trimming weekly gains on Friday, ending the week at 107.55. The pair barely holding above a critical Fibonacci support at 107.45. Japan’s National inflation steady at lows in August.

USD/JPY News

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

Forex MAJORS

Cryptocurrencies

Signatures