ASB chief economist Nick Tuffley


PHOTO: SUPPLIED – ASB chief economist Nick Tuffley says the combination of slowing house price growth, more homes on the market and a favourable interest rate has increased confidence.

The number of Kiwis who think it’s a bad time to buy a house has hit a five-year low, ASB housing confidence survey shows.

ASB chief economist Nick Tuffley said confidence among the 2786 respondents surveyed had been rising as house price growth slowed.

Tuffley said the recent foreign buyers ban on existing and some new properties might have also contributed to this optimistic sentiment.

He said respondents also came within a whisker of the majority thinking it’s a good time to buy.



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