Net house price expectations hit a five and a half year low in the three months to July according to the latest ASB Housing Confidence Survey. Auckland respondents remain the driving force behind this move, with only a net 15% of respondents in Auckland expecting house prices to lift; the lowest level in 8 years. However, this was not an Auckland-only phenomenon, with a lower proportion of respondents across NZ expecting house price gains over the next 12 months.
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