Key Facts:

  • The New Zealand housing market is experiencing a resurgence after a period of decline due to the COVID-19 pandemic.
  • Several factors are contributing to the current housing market growth, including low-interest rates, pent-up demand, and strong buyer confidence.
  • A shortage of available properties is driving up prices in certain regions, creating a competitive market for buyers.
  • The New Zealand government’s change to the loan-to-value ratio (LVR) restrictions has also facilitated easier access to mortgages for potential buyers.
  • Experts predict that the housing market will continue to thrive in the coming months, with the potential for increased house prices.

Article Summary:

The New Zealand housing market is rebounding, driven by a range of factors. Low-interest rates, pent-up demand from previous lockdowns, and strong buyer confidence are contributing to the resurgence. However, the limited supply of houses in certain areas is pushing up prices and creating a fiercely competitive market for buyers.

Another significant factor in the market’s recovery is the New Zealand government’s change of loan-to-value ratio (LVR) restrictions. This move has made it easier for potential investment buyers to access mortgages, further stimulating the housing market.

Experts predict that the current growth in the housing market will continue in the upcoming months, potentially leading to even higher house prices. However, concerns have been raised about affordability, as the rapid growth may pose challenges for first-time buyers and those on lower incomes.

To read the full article, go to: https://i.stuff.co.nz/business/property/300971966/susan-edmunds-five-reasons-the-housing-market-is-picking-up-again