• New Zealand’s housing market is ripe for a double-digit correction over the next four years, but relief is less likely in Auckland despite its lack of affordable property.

The latest forecasts from Wellington-based economics consultancy Infometrics warns the “cocktail” of falling migration and increasing interest rates could be a catalyst for a housing market correction.

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MARTIN DE RUYTER/FAIRFAX NZ
While the housing market continues to boom in many regions as Auckland cools, economists warn a loss of demand could impact other towns more significantly than New Zealand’s largest city.