Until March of this year, “New housing construction permits continue to decrease” In the midst of a quiet real estate market, annual new housing construction permits decreased by 7.9% compared to the same period last year until last March. According to data released by the Statistics Bureau on May 4th (Thursday), a total of…
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Property Journal
Property Journal
Property Journal
Mortgage rates have exceeded what many borrowers were stress-tested at Mortgage rates have exceeded the rates many borrowers who bought at the peak of the market were stress-tested at, according to the Reserve Bank (RB). In May’s Financial Stability Report, the RB found households that borrowed during the period of very low interest rates…
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OneRoof House Price Report – May 2023 New Zealand house prices are still well above pre-pandemic levels, even after the sharpest housing market decline since the GFC. The latest figures from the OneRoof-Valocity House Index show the nationwide average property value is, at $958,000, 23.9% ($185,000) higher than it was in March 2020, just…
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What the home loan shake-ups really mean for the housing market 1. Loan to value rules are about to ease Last week, the Reserve Bank of New Zealand (RBNZ) announced their intention to slightly loosen the loan to value ratio rules (LVRs) on June 1. It wasn’t a surprise that this is their plan, but…
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