Three quarters of Kiwis want house prices to fall | WATCH - Property News AU/NZ | propertynoise.co.nz & propertynoise.com.au

PHOTO: NZ house prices

We reckon it is the BEST property news update in NZ!

Three quarters of Kiwis want house prices to fall and almost half of us want them to fall substantially, according to the latest 1News Kantar Public Poll.

The poll comes as the Government was accused of turbo-charging the housing crisis with its Covid-19 policies of driving down interest rates and driving up asset values.

We asked, ‘would you like to the see the price of housing in New Zealand fall?’

Twenty-nine per cent said ‘yes, a little’, while nearly half of all respondents (47%) said ‘yes, a lot’.

That’s 77% of Kiwis wanting house prices to fall.

Just 18% said ‘no’ when asked, while 5% didn’t know.

Housing Minister Megan Woods said the Government did manage “to pull the throttle back” on the rampant house price inflation that was being seen in early 2021.

“We were seeing very high rates of growth and that’s why we took action and introduced measures like reducing the ability of speculators to claim interest, also putting the money into infrastructure and addressing that decades-long deficit.”

Woods said nearly every commentator is now predicting house prices would fall this year.

National’s housing spokesperson Nicola Willis said nearly everyone was expecting a correction after a 20% rise in prices just last year.

“Clearly that is unsustainable, and most house owners that I talk to have factored in already that house prices have to come back,” she said.