House prices will likely fall this year, but probably not by enough to please would-be first-home buyers, economists say.
The long-awaited bubble is set to commence on Monday, April 19.
"We expect house prices to unwind in an orderly manner in the coming year."
Remember when FOMO was fuelling irrational behaviour in the housing market? Now it's all about FOOP, industry insiders say.
House prices are rising so quickly, even real estate agents are calling for calm.
Changing the wording of the Social Security Act 2018 is one of the goals of Ricardo Menéndez March's new Bill.
The Reserve Bank has left the current settings unchanged.
National has proposed giving councils $50,000 for every extra home they consent over the historical average.
One of the country's leading economists says the tax changes have caused a "substantial decline" in interest.
An economist has credited actions taken by the Govt and Reserve Bank last year with keeping Kiwis' credit scores high.
Instead of abolishing the tax break entirely, the Govt is urged to consider allowing 50 pc deductibility.
They say New Zealanders will head to Australia in colder months - meaning uneven spending in each country.
While this bodes well for first-home buyers looking to get into the market, most agents still expect prices to keep rising.
Tourism and other businesses are breathing a massive sigh of relief.
"The price an investor would now be willing to pay for a property will clearly be less."
Labour calls itself the party of workers' rights but appears to have little interest in fixing this loophole, writes Dan Satherley.
Despite NZ's relatively good GDP growth over time, our productivity growth has lagged.
While the next GDP figures are likely to show we're in a recession, chances are we're already out of it, an economist has claimed.
Around two-thirds of Retail NZ members expect to see prices increase.
Without international visitors, there is likely to be a $12.9 billion gap each year in visitor spend, says TNZ.
The average asking price in March was $834,769 - up $120,449 on the same time last year.
"Every year when the minimum wage goes up you hear... that jobs are going to be lost... we never actually see those losses."
Judith Collins says the minimum wage should be frozen until the threat of future lockdowns has passed.
People in the field say NZ will struggle to restore the $5b industry.
"Our basic view is upward pressure on rates over the next two or three years."
The Government has stuffed renters to appeal to first-home buyers, a prominent economist has claimed.
Labour will finally fulfill a 2017 election promise this Thursday, when the minimum wage increases to $20 an hour.
Northland is New Zealand's top region for economic growth.
The median house price is now seven to eight times the median household income; in Auckland, it's over 10.
"That's not on our agenda at the moment, but we will keep an eye on what happens."
