Where are Auckland house prices heading?

At last month’s Barfoot & Thompson Summit, Infometrics economist Brad Olsen gave his latest outlook for the New Zealand economy, including what he expects to happen with house prices.

For Auckland, his message was pretty simple: don’t expect a big surge in prices anytime soon.

Prices are essentially moving sideways, with some small month-to-month falls.

Buyers and sellers remain in a stand-off - buyers are cautious, while many sellers are reluctant to meet the market.

Plenty of choice means buyers don’t currently feel under pressure to rush.

Looking ahead, the expectation is for relatively modest price movement rather than another dramatic property boom.

For Auckland homeowners, that may mean the next few years are less about waiting for the market to suddenly take off and more about making property decisions based on your own circumstances and timing.

Sometimes a sideways market can actually be a very good market to make a move in, particularly when you are buying and selling in the same market.

*(While Brad Olsen is Principal Economist at Infometrics and a widely recognised New Zealand economic commentator, all forecasts are based on current information and future house-price movements cannot be guaranteed).