Nick Tuffley: ASB chief economist on the outlook of the latest ASB Housing Confidence survey

A new survey by ASB indicates Kiwis aren't expecting house prices to pick up again anytime soon. According to ASB's Housing Confidence survey, a net 13 percent of respondents believe house prices will go up - down more than 30 percent compared with last quarter. A net 20 percent of respondents now expect lower interest rates and only a net 8 percent think now is a good time to buy. ASB chief economist Nick Tuffley says falling interest rates haven't inspired confidence in sellers. LISTEN ABOVESee omnystudio.com/listener for privacy information.