Prices expected to rise but 'not a great time to buy'
The survey recorded that a net 48% of respondents expect house prices will keep rising higher in the year ahead.
Although that is slightly below where expectations were sitting at the same time last year, it is still a high reading by historical standards for the survey, which dates back to 1996.
ASB chief economist Nick Tuffley said the New Zealand housing market remained tight, with the level of house listings remaining at extremely low levels by historical standards.
“But the slight easing in price expectations is occurring at a time where we are also observing a slightly lower level of sales. Some respondents are likely expecting some moderation after the price rises recorded over the last year or so, but very few expect prices to fall.”
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