House prices: If there's another outbreak, the impact will be 'almost cataclysmic'

Housing market experts have revised their price forecasts on the back of stronger than expected sales activity post lockdown, saying it's unlikely New Zealand is headed for a crash.

But all are agreed that fresh Covid 19 outbreaks would mean all bets are off.

As NZME launches a new nationwide campaign with REINZ, Know the landscape, aimed at keeping Kiwis informed about buying and selling property post-Covid-19, OneRoof polled leading economists and other real estate experts about the future of the housing market.

The prevailing sentiment was the country is not in as bad a position as it could be and while prices will fall, the experts do not expect them to crash.

While views differed as to whether there would be much in the way of mortgagee sales coming, all were in agreement about just how damaging significant new clusters would be, especially if the country had to move back into restrictive alert levels.