by Graham McIntyre | Jul 4, 2017 | House$ales
Auckland’s housing market will provide little relief for first home-buyers nor investors amid an estimated 40,000 property shortfall which seems unlikely to be realised given a flat line by mortgage providers. Diverting investors into building new properties was the Reserve Bank’s key to alleviating the city’s shortage of affordable homes but restrictions in lending and in offshore fund draw-downs for buyers has seen a significant hand brake applied to purchasing. Auckland still needs over 40,000 new houses however demand has been largely from property migrators rather than investor buyers which has impacted directly on buyer demand and funding misalignment. The Reserve Bank loan-to-value restrictions have been slowing the market for some time and possible rising interest rates in 2018 will consolidate that slow-down and reduce price pressure by scaring some out of the market. Property investors have represented between a quarter and almost half of the market and the removal of this group from the market has had a direct and significant impact on the Auckland market. Further to this, mortgage providers will need to show flexibility to allow buyers choice and confidence to invest. Let’s consider the sales. Herald Island residential $2,350,000 Hobsonville residential $665,000 to $1,860,000 Massey residential $560,000 to $1,450,000 Royal Heights residential $450,000 to $1,056,000 Taupaki lifestyle $1,200,000 to $2,200,000 West Harbour residential $710,000 to $1,056,000 Waitakere residential $720,000 to $769,000 Waitakere residential $850,000 to $1,685,000 Whenuapai residential $1,300,000 to $12,200,000 So whatever you decide and when you decide, it costs nothing to give us a call, or get us around, for a discussion about how we support you through the marketing and decision making...
by Graham McIntyre | Jul 4, 2017 | House$ales
Auckland’s housing market will provide little relief for first home-buyers nor investors amid an estimated 40,000 property shortfall which seems unlikely to be realised given a flat line by mortgage providers. Diverting investors into building new properties was the Reserve Bank’s key to alleviating the city’s shortage of affordable homes but restrictions in lending and in offshore fund draw-downs for buyers has seen a significant hand brake applied to purchasing. Auckland still needs over 40,000 new houses however demand has been largely from property migrators rather than investor buyers which has impacted directly on buyer demand. The Reserve Bank loan-to-value restrictions have been slowing the market for some time and possible rising interest rates in 2018 will consolidate that slow-down and reduce price pressure by scaring some out of the market. Property investors have represented between a quarter and almost half of the market and the removal of this group from the market has had a direct and significant impact on the Auckland market. Further to this, mortgage providers will need to show flexibility to allow buyers choice and confidence to invest. Let’s consider the sales. Coatesville lifestyle $ 2,625,000. Helensville residential $ 585,000 to $ 845,000. Helensville lifestyle $ 1,059,000 to $ 1,225,000. Parakai residential $ 459,000 to $ 790,000. Huapai-Kumeu residential $ 970,000 to $ 1,240,000. Huapai-Kumeu lifestyle $ 1,508,000 to $ 2,235,000. Riverhead residential $ 740,000 to $ 1,620,000. Taupaki lifestyle $ 1,200,000 to $ 2,200,000. Waimauku lifestyle $ 915,000 to $ 2,550,000. Waitakere residential $ 720,000 to $ 850,000. Waitakere lifestyle $ 1,570,000 to $ 1,685,000. Whenuapai lifestyle $ 1,300,000 to $ 12,200,000. So whatever...
