Property slump unlikely: KPMG

Despite fears of a property slowdown, New Zealand’s strong economy will help to keep house prices steady by attracting migrants and keeping Kiwis here, says KPMG.

House hunters will be wanting the current property cycle to slow or reverse after its great run over the past few years, according to the professional services firm.

“However, market data is mixed, and while it does show a definite slowdown compared to previous years’ growth, explicit major declines are not yet clearly discernible,” KPMG said in the commentary to its latest Financial Institutions Performance survey.

QV’s latest data showed Auckland property prices in the 12 months to August rose by 2.8 per cent – the slowest growth rate in six years.

QV’s latest data showed Auckland property prices in the 12 months to August rose by 2.8 per cent. Photo / Doug Sherring

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