Jarrod Kerr: KiwiBank chief economist on house prices being set to trend downwards - Heather du Plessis-Allan Drive

A leading economist says house prices still have some way to drop because they're coming off a high base.

The Reserve Bank's today released its twice-yearly Financial Security Report, predicting lending rates and household debt will continue to rise, and house prices keep falling.

It comes on the same day Stats NZ figures show unemployment is stagnant at 3.3 percent.

Kiwibank's Jarrod Kerr says house prices will continue trending downwards.

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