• Buyer sentiment has dropped to a record low in the latest ASB Housing Confidence survey.

A net 26 percent of people say it is a bad time to buy a house, compared to a net 20 percent three months ago.

A reading of zero would indicate people are evenly split on whether or not it is a good time to buy.

ASB Bank chief economist Nick Tuffley

ASB chief economist Nick Tuffley says buyer sentiment is the lowest it has been since the survey began in 1996.