Nick Tuffley: ASB Chief Economist on the rising confidence in the housing market

More New Zealanders are putting their faith back into the housing market.

ASB's latest survey shows confidence has lifted sharply this quarter, with respondents who expect house prices to rise over the next year jumping from 17% to 30%.

Chief Economist Nick Tuffley says it's a buyer's market and advises caution when it comes to banking on strengthening house prices.

But he told Mike Hosking the affordability factor is quite good currently, with plenty of supply, reasonably stable prices, and debt servicing rates from banks remaining very low.

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