Property · Building · Design
Australia has raised interest rates while New Zealand has paused; banks are cutting some mortgage rates, yet employment data continues to weaken.
House prices continue to fall, but signs of recovery are emerging in construction.
Would you accept a home without a garden in exchange for a larger living room or a more affordable overall price?
Sales are falling, homes for sale remain plentiful and prices are easing, yet first-home buyers are increasing their share of purchases. Ahead of the election, New Zealand’s housing market is sending signals in different directions.
Markets widely expected a 25 basis point rise, but the Reserve Bank of New Zealand opted to hold. Households with mortgages have avoided another rate rise for now, but the single-vote margin also shows that the future path of interest rates remains far from clear.
New Zealand’s inflation rate has fallen, but homeowners may face another interest rate rise
The cost of a housing project is usually broken down into land, materials, labour, finance and infrastructure. But once a contract is signed, how each construction payment is verified and who approves additional costs also determine whether funds go towards actual construction.
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