PHOTO:ALDEN WILLIAMS/STUFF New Zealanders’ confidence in the housing market has taken a big knock and is likely to get worse.
New Zealanders’ confidence in the housing market has taken a big knock and is likely to get worse thanks to the economic fallout from the coronavirus.
The housing market was essentially put on hold during the level 4 lockdown, and many people have either lost jobs or may be worried about their work.
A net 14 per cent of respondents to the latest ASB Housing Confidence Survey expected house prices to rise over the next year, compared with 54 per cent in the previous quarterly survey.
“The housing market was literally stopped in its tracks during the lockdown,” said ASB chief economist Nick Tuffley.
“Some people are likely to have added concerns about their job security and take a more cautious attitude towards jumping into the housing market.
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