Another poll turns against Jacinda Ardern as Kiwi sentiment collapses

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Earlier this week, Roy Morgan released polling showing that the Opposition National Party has moved well ahead of Ardern’s Labour Party on both Primary Vote:

Yesterday, the TVNZ/Kantar Public poll was released, which also showed that National has taken the lead over Labour, leading 39% (up 7%) to 37% (down 3%):

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This comes as New Zealand consumer confidence collapsed to its lowest level on record last week:

The latest ASB housing confidence survey, which covered the three months to January, has also collapsed to a 26-year low:

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A net 28 per cent of respondents thought now was a bad time to buy a house in the latest ASB housing confidence survey… That was up from 23 per cent in the last survey, and was the most negative result since the bank’s records began. Only a net 7 per cent thought now was a good time to buy.

House price expectations faltered, too. The percentage of respondents who thought prices would rise over the coming year fell to a net 49 per cent.

Kiwi sentiment has clearly soured and they seem to blame Prime Minister Jacinda Ardern.

The next New Zealand election is scheduled for late next year whereby Jacinda Ardern will seek a third term in office. Based on the mood in New Zealand, Ardern faces a tough battle.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.