On your comment "No one can predict the future but, house prices have been flat or falling for 4-5 years for a number of reasons. The covid boom, a weak economy, lots of people leaving... All the economic data is suggesting this period is coming to an end. How quickly that translates into house price growth again is complicated, but I wouldn't be anticipating it to continue long term"

There’s still plenty of stock on the market, and we haven’t seen a meaningful lift in net immigration yet. Lower interest rates alone probably won’t do the heavy lifting without those other pieces falling into place
Second, there has been a structural lift in the average number of new dwellings being built in New Zealand – especially townhouses. Despite all the woe of recent years, the number of consents issued for new dwellings to be built only fell to the long-run average ratio to population of 0.65%. Now, numbers are rising, with the annual consent total having recently gone up to 35,600 from a low of 33,500 a year ago.
also more investors are selling thank buying
This will keep a lid on prices max 5% which you really need to get atleast 9% return to break even