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REINZ HPI shows NZ property
values hit new high in January. The REINZ House Price Index (HPI) for New Zealand, which measures the changing value of property in the market, increased 19.2% year-on-year to 3,482 a new high on the index – the highest annual percentage increase in 199 months (June 2004).
Additionally, 9 out of 12 regions had new highs on the index. Westpac's economists predict that annual house price will reach its peak at 16 per cent in June, and then drop slightly to 12.2 per cent by the end of 2021. ASB and BNZ say the house prices are more likely to have double digit growth by the end of 2021, but they haven't come out with a concrete number. What do you think? Will New Zealand house prices keep increasing 2021?