House price rises are expected to slow as more people lose their jobs, but values aren't tipped to drop

Infometrics is forecasting 186 thousand job losses by June next year.

Chief forecaster Gareth Kiernan says the housing market's been one of the strongest areas of the economy because of a spike in returning Kiwis and very low interest rates.

He says house prices aren't expected to fall, despite previous predictions.

Kiernan says the Reserve Bank has further interest rate cuts pencilled in, which will help put a floor under property values.