Budget 2021: The Government expecting 'very sharp' drop in house price growth The Beehive, Wellington. Parliament Buildings. (Photo / Mark Mitchell) Budget 2021: The Government expecting 'very sharp' drop in house price growth Thu, 20 May 2021, 2:28PM The Government is forecasting a significant slowing in house price growth in the coming years, after the New Zealand market's recent red-hot run. "This is a very sharp adjustment in house prices but a very necessary one," Finance Minister Grant Robertson said in today's budget lockup. Treasury has warned that the decrease in expected house price growth will "dampen the economic recovery". But Robertson did not appear worried about this warning.