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New Zealand Housing Sales Plummet Amid Rising Rates

12/16/2025

Summary

Story summary

ANZ economists report New Zealand housing sales volumes are below the long-term average, with November activity weaker.
Senior economist Satish Ranchhod notes declines in sales and prices, especially in Auckland and Wellington.
Canterbury, Otago, and Southland posted modest gains.
Rising interest rates and higher supply push the market downturn, with properties at a decade-high level.
The downturn weighs on consumer confidence and the economy, especially in property-related services.

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Story summary

ANZ economists report New Zealand housing sales volumes are below the long-term average, with November activity weaker.
Senior economist Satish Ranchhod notes declines in sales and prices, especially in Auckland and Wellington.
Canterbury, Otago, and Southland posted modest gains.
Rising interest rates and higher supply push the market downturn, with properties at a decade-high level.
The downturn weighs on consumer confidence and the economy, especially in property-related services.