7 Aug 2020

Covid-19: Impact on property market less severe than predicted

From Morning Report, 7:42 am on 7 August 2020

The impact of Covid-19 on the property market may not be as dramatic as previously thought - thanks in part to a flock of returning New Zealanders.

After dire predictions of a property collapse, the Reserve Bank's latest survey of expectations is now forecasting house prices index to fall by 1.38 percent by this time next year.

A senior economist says real estate agents have been surprisingly busy.

Anan Zaki filed this report.