Housing confidence continues to rise, says ASB, but prices keep falling

Housing confidence continues to rise, says ASB, but prices keep falling

The bank's chief economist Nick Tuffley said respondents to its housing confidence survey have become " increasingly enamoured with the housing market" over the past nine months.

Improved sentiment appeared closely linked to the dramatic fall in interest rates over the past year, he said.

But better sentiment does not always translate to better prices, said Tuffley, with a majority of respondents still expecting prices to fall over the next year.

"However, month-to-month results suggest that price views became less negative as the quarter progressed," said Tuffley.

To read the full NZ Herald article click here

Posted: 26 May 2009

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