The Covid-19 pandemic has failed to dent New Zealand's love affair with property, embarrassing the best guesses of many economic forecasters.
But now Treasury says a dip is coming and claimed in its pre-election update that house prices will fall 5 percent on average by the middle of next year.
The government's main economic advisor cites a lack of immigration and a rise in jobless - saying an upward trajectory won't start again until the borders reopen.
Those talking up the market say a short a dip is unlikely, noting a lack of supply and historically low borrowing costs.
Reporter Katie Todd asked ASB chief economist Nick Tuffley if the Treasury's forecast is on the money.
