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Summer is here and the housing market is HOT!

Victoria Day – Harcourts Pukekohe

by Victoria Day, Harcourts Pukekohe

It has been 13 years since we have seen sales hit over 10,000 in a month but that’s what happened last month – against a backdrop of low level of listings. There are a good number coming to the market but the high turnover rate means that there are not enough for the demand that exists.

A persistent lack of stock is contributing to the rising house values – this is particularly true of the first time home buyers and investors markets assisted by the removal of the loan to value ratios or LVRs. Statistics are showing that the volume of loans to lower deposit options have tripled over the last three months compared to the last 3 months compared to the same period last year for investors. The banks have been less lenient on first home buyers and owner occupiers so any change in the LVR levels will not too much impact on this section of the housing market.

The concern is whether by signalling a change in the LVR’s for investors means that they are out purchasing before the regulations change is unclear but if true will be having a short term impact on values payable.

Interest rates are still predicted to drop with the official cash rate on hold at 0.25% with a further drop in 2021 more likely than not – with sub 2% interest becoming the norm in the not too distant future.

If your goal is to upsize your home or downsize your mortgage, then you should be giving me a call – I am happy to help.

Victoria Day: The Key to Your Next Adventure.

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24 Seddon St

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elocal Digital Edition – January 2021 (#238)

elocal Digital Edition
January 2021 (#238)

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