ASB Revises New Zealand Housing Forecast to 1.5% Growth by 2026

Deep News02-23

Associated Banc-Corp has updated its housing price projections in its Economic Weekly report released Monday in Wellington. The bank now forecasts a 1.5% increase in housing prices by 2026, down from its previous prediction of 3.9% growth. For the 12-month period ending June 2026, prices are expected to decline by 1%, compared to the earlier forecast of a 0.7% to 2.5% increase. This revision follows last week's data from the Real Estate Institute of New Zealand showing a 0.2% monthly decline in the house price index. Associated Banc-Corp indicated that high housing supply is likely to continue weighing on prices, with any potential recovery in 2026 expected to be modest. The Reserve Bank of New Zealand projected last week that housing prices would remain flat in 2026.

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