PHOTO: KEVIN STENT/STUFF Wellington’s housing market will be helped by more Government spending.
Low interest rates are likely to power national house prices to new heights over the coming year, ASB economists say.
Chief economist Nick Tuffley said the bank was predicting that nationwide house price growth could hit 6 per cent by mid next year.
That’s up from 4.5 per cent at present, based on Real Estate Institute statistics.
But he said there would be wide variation within those numbers. Auckland would recover from a 3.1 per cent drop in prices this year to stagnate in 2020.
Christchurch would pick up from a 0.5 per cent drop this year to 2 per cent growth next year.
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