Kelvin Davidson: Property expert on biggest housing sales slump in nearly 40 years

Best of Business · Mar 22, 2023 · 2m

From RNZ

The housing market has gone quiet, triggering the biggest sales slump in nearly 40 years.

CoreLogic NZ’s new Housing Chart Pack indicated 60,859 properties were sold in the year to February, which was the lowest 12-month total since October 1983.

There were about 4100 sales in February, which was the lowest number for that month since 1981, with 16 per cent more listings than the same time last year.

CoreLogic NZ chief property economist Kelvin Davidson said the figures reflected recent interest rate hikes and tighter lending rules.

Kelvin Davidson. Photo / Peter Meecham, OneRoof…