RBNZ has shifted its house price forecast to a more optimistic view for the rest of the year.

The reserve bank is forecasting that house prices will fall much slower throughout the rest of 2023 than previously thought. At the start of 2024 RBNZ expects prices to level, before rising again later in 2024 according to an article by David Hargreaves of Interest.co.nz

RBNZ cites multiple factors that have slowed the decline of prices; an increase in immigration, wage growth and stable mortgage interest rates being a few that have helped stem fall. If you are preparing your home for the market over the winter, or even further ahead in the warmer months, it may be the perfect time to get an appraisal to know how your area is going to be affected.