House prices are 30 percent higher than they were before Covid-19, according to the latest figures from CoreLogic.
But the Reserve Bank's official cash rate hikes have helped cool the housing market - prices have slumped 10.5 percent nationally in the last year, and about 20-percent in the Wellington region.
That's not great news for recent or highly indebted buyers and with a wave of mortgage re-pricing still to come, the housing market outlook is fairly subdued.
Corelogic's chief property economist Kelvin Davidson spoke to Corin Dann.
