March 10, 2023

New Zealanders’ hopes for home prices have dropped to levels not seen since the Great Recession.  Compared to last year at this time, when 49% of respondents expected prices to rise, this year’s ASB home optimism poll found that 43% expected prices to decline. At the height of the GFC, 55% of respondents in July 2008 predicted lower costs in the coming year. ASB senior economist Kim Mundy predicts housing mood will decline even further, even though forecasts haven’t yet reached rock bottom.  “The housing market has been weak of late, and it doesn’t look like it’s going to turn