Now a good time to buy a house: survey
A net 54% of those surveyed regarded now as a good time to purchase a house in the three months through July, from a net 46% in the three months to April, the survey showed. A net 4% of those polled say prices may decline, an improvement from the 45% who saw prices falling three months earlier.
"After over a year of expecting prices to fall in the year ahead, respondents have a more neutral outlook," said Nick Tuffley, ASB's chief economist. The survey "reinforces that confidence is building, along with a sense that price falls are coming to an end," he said.
Still, the next housing cycle will be "very weak" compared to the 2002-2007 boom.
The survey shows more people believe cuts to interest rates have come to an end after the central bank lowered the official cash rate to a record low 2.5% this year.
Click the button below to subscribe and will have free unlimited access for a limited time to full article and all other articles on the site.
You will also be able to comment on articles on Good Returns.
