Aucklanders optimistic on house prices

House price expectations are the highest in Auckland, according to the latest ASB NZ Housing Confidence Survey, which finds that housing confidence has fallen slightly in the past three months.

"Expectations for rises in house prices have fallen across all regions except Auckland," ASB chief economist Nick Tuffley said.

"A net 8 per cent of people we surveyed across New Zealand expected prices to increase, significantly down from a net 19 per cent last quarter. Auckland now has the highest price expectation across the regions," he said.

A breakdown showed a net 19 per cent of people expect house prices will rise in Auckland compared with a net 4 per cent for the rest of the North Island. The figure is just 2 per cent for the South Island.

Overall, 33 per cent expect higher prices, down from 38 per cent last quarter, with 25 per cent expecting lower prices, up from 19 per cent last quarter.

The 37 per cent expecting no change is little different from 38 per cent in the previous period.

To read the full NZ Herald article, click here

Posted: 2 Dec 2010

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