Photo: ODT filesThe Government is forecasting a significant slowing in house price growth in the coming years, after the New Zealand market's recent red-hot run. "This is a very sharp adjustment in house prices but a very necessary one," Finance Minister Grant Robertson said in today's budget lockup. "We do need to move away from [house price growth] as the engine for growth in New Zealand." In the Budget, the Treasury released its house price growth expectations over the next four years. The Treasury is expecting house price growth between 2021 and 2022 to be 0.9 per cent.

Source: Otago Daily Times May 20, 2021 02:26 UTC