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.
find what you’re looking for
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.
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.
The impact the Corona Virus lockdown has had on New Zealand’s housing market is that of accelerated growth. Higher demand.Higher prices.
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.
Even at the bottom end of the scale finding a house and land package for under $650k is like finding a needle in a haystack, even in the furthest outskirts in Auckland.
It wasn’t that long ago that we all had our sights firmly set on a typical quarter acre section. The ‘Kiwi Dream Home’. Nowadays a
It wasn’t that long ago that we all had our sights firmly set on a typical quarter acre section. The ‘Kiwi Dream Home’.
Even at the bottom end of the scale finding a house and land package for under $650k is like finding a needle in a haystack, even in the furthest outskirts in Auckland.
The impact the Corona Virus lockdown has had on New Zealand’s housing market is that of accelerated growth. Higher demand. Higher prices.
All rights reserved
@2021 Onward Home