REINZ data tracking the housing market in New Zealand.

  • prices -2.8% m/m in July
  • prices -1.6% y/y
  • sales -36.7% y/y

The housing market in NZ has taken a hit from rising interest rates. The Reserve Bank of New Zealand was very early to the inflation-busting rate hike game. (And for clarity, the hikes have not busted inflation yet).

RBNZ Governor Orr

RBNZ Orr chuck norris meme