Property · Building · Design
Davidson believes that although house price falls seem inevitable in the short term, the market could flourish again over the longer term as interest rates adjust and the economy recovers.
The summit was a major annual event within Barfoot & Thompson, designed to give the company’s agents and staff opportunities to advance their careers through insights from leading international speakers.
What would you choose? Would you favour Darwin for its lower cost of living, or place more value on Melbourne’s diverse employment opportunities? Or would you prefer to stay in New Zealand, despite the pressure of house prices, to remain close to family and friends?
Although mortgagee sale properties are generally considered cheaper than homes sold through normal channels, ‘cheap’ does not necessarily mean good value.
The latest Reserve Bank of New Zealand data shows that 60% of new loans in July were fixed for 12 months or less, setting a new record.
Opes Partners’ resident economist Ed McKnight suggests examining the following four key questions to assess whether the current market is really right for buying a home.
Major changes are coming to the lending market as the Government gradually scales back consumer protections criticised for making borrowing more difficult. Cabinet has recently agreed to further amendments to the Credit Contracts and Consumer Finance Act (CCCFA) to prevent lenders from getting into difficulty over mistakes.
With the Reserve Bank of New Zealand cutting the official cash rate (OCR) for the first time in four years, the property market appears to be entering a fresh period of activity. For buyers who have been waiting on the sidelines, this change undoubtedly brings new opportunities, alongside challenges and uncertainties that cannot be ignored. So, should buyers prepare for another surge in house prices?
This trend suggests buyers’ confidence in the market is returning, with lower borrowing costs providing the main impetus.
This wave of rate cuts has brought hope to first-home buyers and tangible benefits to many households already paying off mortgages.
The latest survey data from Infometrics shows that New Zealand’s national median rent has risen by as much as 20% over the past three years, while average Kiwi household income has grown by only 15% over the same period.
YIJU will explore some of Auckland’s leading state school zones, starting today with Auckland Grammar School