Outlook remains constrained

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After a quick chat about the latest CoreLogic CCCI report on construction costs the focus quickly turns to the state of the market, following the latest REINZ monthly report detailing recent sales volumes and house value movements.

Neither measures provide much positivity for the future, as sales remain slow and values continue to fall, however in slightly better news the recent net migration figures provide a few shards of light at the end of the tunnel. 

The rental index data from Stats NZ meanwhile looks a little off, but either way, reduced rental growth is adding the current challenges for property investors.

The regular quarterly report will be available to download later this week, but prior to that, all eyes will be on the CPI release from Stats NZ - set for Tuesday 10:45am.

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