|NZ House Price Records
New Zealand house prices hit a new record
in February, with the market completely unaware of the pandemic to come.
According to figures from the Real Estate Institute of New Zealand (REINZ),
prices increased $80,000 nationally over the year, from $560,000 in 2019 to
$640,000 in February 2020. Seven regions saw record prices, and New Zealanders
were very confident that house prices were going to keep rising. While property
prices and confidence will both struggle to some degree, real estate will be
more immune to COVID-19 than many other sectors of the economy.