I agree that terms like peak and bottoming-out can mislead casual readers, because the future market can easily disprove both assumptions. Thankfully, we are no

I agree that terms like peak and bottoming-out can mislead casual readers, because the future market can easily disprove both assumptions. Thankfully, we are not casual readers, or a source of financial advice, and may speak freely among ourselves here at HN. (however, for avoidance of doubt, readers, "peak" and "bottom" are colloquial terms for potentially-ephemeral changes in a markets direction) In my opinion - and this is firmly a subjective opinion, upon which nobody should act - the NZ housing market will stay relatively flat for the time-being. Sentiment is ok, but affordability is still at the edge. Should mortgage rates drop significantly, then the price-go-up-party can continue, but there is little reason to think we're going to see 2-3% fixed rates anytime soon, i.e. the next 5+ years, and therefore the macro economic conditions to support significant price uplifts may not be there. There's nothing to suggest that NZs average wage will proportionally increase (except by the usual inflation, and modest annual growth) in the foreseeable future. And the modest ongoing demand resurgence may well (or not!) prevent further drops. Hence perhaps keeping the market relatively stable for awhile, after the partial retracement we had.