S2.E34 - More changes, now hitting first home buyers

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It seems the property market is allergic to having a quiet week, with the biggest news in the last 7 days being the Reserve Bank's proposal to tighten the loan-to-value ratio (LVR) restrictions for owner occupiers further. This will impact first home buyers the most and Nick and Kelvin discuss the details of that, along with the latest CoreLogic House Price Index (HPI) data (LinkedIn post here).

Then the labour market statistics stormed the headlines with an incredible result where the unemployment rate dropped to 4.0% - on par with where it was before COVID hit our shores. Discussion about the Official Cash Rate (OCR) has subsequently turned to how many times and how high the OCR will lift as opposed to debating the August decision which seems almost certain to be at least a 0.25% rise.

Looking ahead, Kelvin's latest chart on rental prices puts the recent growth into context and there's plenty of other data to look out for this week.

Check out all our regular CoreLogic research insights at https://www.corelogic.co.nz/research-news and get in touch on LinkedIn, twitter @NickGoodall_CL or @KDavidson_CL or send us an email on nick.goodall@corelogic.co.nz or kelvin.davidson@corelogic.co.nz 

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