Investors coming off the fence

Squirrel chief executive David Cunningham says while house sales activity was absolutely anaemic over summer — the market has definitely entered a pretty healthy comeback phase in the last month or two.

In part, that’s down to the fact house prices are starting to stabilise, he says.

“Prices have now fallen about 20% in nominal terms, or 30% once you factor inflation into the equation, essentially taking us back to where they were pre-Covid.

“Commentary from the Reserve Bank is that those falls have done what was needed to get us back to a more sustainable space with house prices,” says Cunningham.