Mortgage stories
First-home buyers are being refused finance after going unconditional, as tougher bank rules and lending checks squeeze borrowing.
Property values have already slipped nationwide, with tourism-dependent centres like Queenstown hardest hit as the recession starts to bite.
Transaction volumes are expected to fall sharply after lockdown, with weaker demand and limited listings likely to push prices lower.
New Zealand property owners are being urged to avoid panic decisions, as low rates and support measures may help cushion the lockdown fallout.
Tenants face a temporary freeze on rent rises and evictions as New Zealand's four-week COVID-19 lockdown halts viewings and house moves.
Lower borrowing costs are expected to bolster New Zealand property demand, with record-low interest rates giving buyers greater certainty and confidence.
Tight housing supply and surging demand are pushing Dunedin values up 17% a year, with buyers still outpacing new listings.
Robert Jesudason, an executive at Commonwealth Bank Australia, has resigned from the board of the Australian bank's New Zealand arm, ASB Bank.
