The housing boom is taking its toll on housing confidence, pushing it to a record low in the September quarter.
Tuesday, October 14th 2003, 5:51AM
by The Landlord
ASB Bank’s latest survey shows only a net 2% of New Zealanders now think it’s a good time to buy a house. That’s made up of 35% who think this is a good time to buy almost cancelled out by the 33% who think it’s a bad time.
Nevertheless, ASB chief economist Anthony Byett doesn’t think this is signalling the end of the boom.
"People are acknowledging that house prices are now more expensive, but that alone will not stop the current housing boom," Byett says.
