Kiwibank are seeing confidence - reporting four months of continuous growth in property prices. From its November 2021 peak, prices dropped overall by 18% to May 2023, and since then, are back up by 2.8%. Kiwibank are anticipating rate cuts in 2024, which are expected to further drive price recovery. Interestingly, they have reported that there was a 47% gain in house prices in the 18 months to the November 2021 peak, which on reflection brings the Reserve Bank's response more into perspective. https://lnkd.in/gAWgQABe
