5:32 am today
Housing market confidence has taken a tumble as interest rates rise, prices are expected to stay flat, and inflation heads higher.
ASB's latest housing confidence report in the three months ended April showed a net 19 percent of respondents expecting prices to rise over the next 12 months from 30 percent in the previous survey.
ASB senior economist Kim Mundy said global issues such as the Middle East conflict and its effect on fuel prices have shifted the outlook for inflation and interest rates.
"House price expectations have eased as rising fuel costs and inflation concerns flow through to higher interest rate expectations."
