NZ House Prices Plunge Back to 2018 Levels Amid Five-Month Decline

New Zealand's housing market is experiencing a historic crash, according to recent data from the Real Estate Institute of New Zealand (REINZ). The REINZ leading house price index, used by the Reserve Bank, shows that home prices have fallen back to early 2018 levels in real terms after a nearly five-year decline.

Cotality's data also indicates that NZ's house price crash has intensified following five consecutive months of decline.