17 Sep 2020

Covid-19: Treasury predicts housing dip

From Morning Report, 7:09 am on 17 September 2020

The Covid-19 pandemic has failed to dent New Zealand's love affair with property, embarrassing the best guesses of many economic forecasters.

But now Treasury says a dip is coming and claimed in its pre-election update that house prices will fall 5 percent on average by the middle of next year.

The government's main economic advisor says prices should then rise again as immigration picks up and economic confidence recovers.

Katie Todd reports.