Softer market better time to buy
ASB has just released its latest Housing Confidence Survey, which covers the three months to July, and it indicates that most people are well aware of the market slowdown.
The survey shows that 32% of respondents nationally expect house price growth over the next year, as compared to 42% last quarter.
It is Aucklanders who are driving the decline. Just 15% of Auckland respondents now expect house prices to grow – and that level is an eight year low.
For ASB chief economist Nick Tuffley, there’s no doubt the dip in confidence reflects the fact house sales volumes are at the lowest levels since 2014.
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