Nick Tuffley: ASB chief economist on the outlook of the latest ASB Housing Confidence survey
A new survey by ASB indicates Kiwis aren't expecting house prices to pick up again anytime soon.
According to ASB's Housing Confidence survey, a net 13 percent of respondents believe house prices will go up - down more than 30 percent compared with last quarter.
A net 20 percent of respondents now expect lower interest rates and only a net 8 percent think now is a good time to buy.
ASB chief economist Nick Tuffley says falling interest rates haven't inspired confidence in sellers.
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