House prices could drop as much as 10 or 13 per cent over the next three years, it has been predicted.

As more details are revealed of the coalition agreement between Labour, New Zealand First and the Greens, commentators are picking over the potential policy impacts on the housing market.

Infometrics chief forecaster Gareth Kiernan was already expecting a drop in prices before the new government was announced.

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Gareth Kiernan: Prices could come off by about 10 per cent over the next three years.

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