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New Zealand Housing Market Struggles Amid Rising Unemployment

3/23/2026

34 7 Full Breakdown

Summary

Story summary

New Zealand's housing market remains weak, with prices 20% below their pandemic peak despite rate cuts from 5.5% to 2.25%.
The Reserve Bank of New Zealand (RBNZ) forecasts no rise in house prices this year.
Sales volumes fell 8% in January and 7% in February compared with 2025.
Unemployment rose to a decade-high 5.4%, and 40,000 people left last year.

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Story summary

New Zealand's housing market remains weak, with prices 20% below their pandemic peak despite rate cuts from 5.5% to 2.25%.
The Reserve Bank of New Zealand (RBNZ) forecasts no rise in house prices this year.
Sales volumes fell 8% in January and 7% in February compared with 2025.
Unemployment rose to a decade-high 5.4%, and 40,000 people left last year.