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What can we expect after the lockdown?

The first lockdown in March 2020 showed erratic behaviour in many sectors. House prices were no exception and it was widely touted for values to decrease by 5 – 15%. Interestingly, this didn’t transpire.

2020 Lockdown vs 2021 Lockdown

Last year in March 2020 the Reserve Bank cut interest rates by .75% and removed the ‘Loan to Value Ratio’ restrictions in order to assist first time buyers. This had a positive effect on the sales figures and market value.

Lockdown and the Housing Market

The impact the Corona Virus lockdown has had on New Zealand’s housing market is that of accelerated growth. Higher demand.Higher prices.

Banks Holding Back Buyers

Many banks shy away from supplying lending for apartments. A 50% deposit is often required therefore making it incredibly difficult for a first home buyer.

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