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Are you feeling the pinch of seasonal illnesses and the excitement of recent sporting events? We certainly are! But that won't stop us from giving you all the latest updates on the New Zealand property market. This week, we delve into trends across the market, from first home buyers making up around 25% of sales to the all-time low of mortgaged investors. We also notice some fascinating trends emerging in Auckland and other parts of the country.
The real estate market listings are painting an interesting picture as well, with reduced supply leading to a decrease in total stock on the market. We zoom in on the Auckland data, where total stock is 15% lower than it was this time last year. Is the end of the downturn near? We also examine the effects of credit restrictions and high rates on demand and their potential impact on price growth in the coming months.
Lastly, we turn our attention to the Reserve Bank numbers, exploring trends in new lending and mortgage rates. With 75% of new loans being taken out in the one to two-year fixed range, and mortgage rates stabilizing from last month, we discuss the significant changes since mid-2021 and the potential economic implications of these trends. So, come join us for an informative and engaging discussion of all things New Zealand property market in this episode!
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