No recession, but weakness still abounds

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Making up for a quieter week prior, last week had a few of the more higher profile data releases. First up the GDP figures for Q2 were released by Stats NZ, with the main headlining being that we avoided a recession, but as Kelvin regularly points out does it really matter if confidence and sentiment is so low it felt like a recession anyway? And what now for inflation and the OCR?

REINZ also released their sales volumes and index for August, with continued weakness the main theme. Broad weakness also typified the latest release of the CoreLogic Mapping the Market data analysing the median value and 3 month change by suburb across the country.

Elsewhere we also got the latest migration figures from Stats NZ, as well as their rental index release showing further reduced demand and pressure on rental prices.

Next week's podcast will be recorded and released on Tuesday 27 September due to the public on holiday on Monday 26 September.

Check out all our regular CoreLogic research insights at https://www.corelogic.co.nz/research-news and get in touch on LinkedIn, twitter @NickGoodall_CL or @KDavidson_CL or send us an email on nick.goodall@corelogic.co.nz or kelvin.davidson@corelogic.co.nz

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