The downturn is done

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The CoreLogic HPI in September showed values plateau nationwide but importantly the NZ market is not all one market, so focus remains on some of the regional differences beneath the surface. 

The Reserve Bank took a less aggressive stance in the monetary policy review - not necessarily due to their decision to hold the OCR flat itself (for the fourth decision in a row), but more due to their expectation setting for the next decision, which now looks more likely to remain on hold. There are a few key releases to come before then though, which Kelvin details. 

The other topic of interest was the construction sector, off the back of consenting figures last week, but also due to Nick delving a bit deeper into the sector. 

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