Confidence in the housing market is plummeting with a record number of people believing it's a bad time to buy a house, according to the latest ASB Housing Confidence Survey.
Housing confidence is now at its lowest point since the survey began in 1996, especially in Auckland where a net 33% of respondents to the latest survey think it's a bad time time to buy a house.
That means those people who think it's a bad time to buy out number those who think it's a good time buy by a third.
Nationally a net 26% of people think it's a bad time to buy a house.
The survey also found that although housing confidence is lowest in Auckland, it is falling at a faster rate outside of Auckland.
It also found that fewer people are expecting house prices to keep rising, while more are expecting interest rates to rise.
Although 64% of respondents think house prices will keep rising, that is down from 68% in the last survey, taken in the second quarter of this year.
And 25% of respondents expect interest rates to rise in the coming year while only 18% expect them to fall, compared to 24% and 17% respectively in the last survey, while 32% expect them to remain the same and 25% don't know which way they could be headed.
"Over the last six months or so there there have been two OCR cuts but little movement in mortgage rates," ASB's economists said in the survey results.
作者: 中纽风行者 时间: 2016-11-9 09:39:27
你可以回国了作者: love_3_month 时间: 2016-11-9 09:44:44
Nationally a net 26% of people think it's a bad time to buy a house.
Although 64% of respondents think house prices will keep rising, that is down from 68% in the last survey, taken in the second quarter of this year.