The Corelogic House Price Index showed the downward trend in property values gather steam in August but after providing a bit more detail of the results, Nick also mentions the early signs of some light at the end of the tunnel.
The foundation of the NZ labour market appears to remain as solid as ever too, with Kelvin reporting filled jobs increased again in July and business confidence looks to be rising from the doldrums too.
Building consents have (finally) shown signs of tailing off, and while it's still minor, Kelvin thinks it's time to call the turning point, though with the pipeline full and the recent government announcement to support commitments in the sector, a GFC-type bust phase isn't expected.
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