Reserve Bank's Household Expectations Survey shows deteriorating outlook.

The Reserve Bank is growing increasingly anxious about price pressures building in the economy and its chief economist has raised the risk of a recession in post-budget remarks.

A net 48% of respondents think interest rates will increase in 12 months, survey finds.

The largest fall in house price expectations was in Auckland, with the number expecting a price increase more than halving to a net 14 percent.

Reserve Bank's Household Expectations Survey shows deteriorating outlook.