Ashley Church

House prices to double in seven years, and there’s nothing Ardern can do about it | NEW ZEALAND

PHOTO: Ashley Church. Photo credit: The AM Show

A property investment expert says New Zealand house prices will more than double in the next decade, and there’s not a thing the Government can do about it.

But Ashley Church, former head of the Property Institute of New Zealand, says that isn’t necessarily a bad thing.

His comments come after data from both the Real Estate Institute of NZ (REINZ) and Trade Me found the median price of a home in Auckland is now more than $1 million and nationwide above $700,000.

“House prices are going to continue to increase. Here’s a prediction for you – in seven to 10 years’ time, house prices around the country – the median house price will be at least twice what it is now,” Church told The AM Show on Wednesday.

“That’s a reality. It doesn’t matter what the Government does, it doesn’t matter what the Reserve Bank does. We’ve got 50 years of empirical data that tell us that that’s what’s going to happen.”

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