WATCH: Jacinda Ardern confident New Zealand property market won’t slump like Sydney, Melbourne

House prices in Sydney and Melbourne are slumping, and some economists have said the same could happen in New Zealand. But Jacinda Ardern says she’s confident we aren’t on the same path as Australia.

“That’s certainly not what it looks like we’re experiencing now here in New Zealand,” the Prime Minister told TVNZ1’s Breakfast today.

“If you look to Auckland, there is a cooling there (but) that doesn’t mean that properties are losing their value. It just means that essentially they’re not escalating at the rate we’ve seen in the past.”