NZ 1st homebuyers are ScReWeD...

[snigmac]

I live in Christchurch . I'm just saying, if I'm a first home buyer.. i would be looking around New Zealand... possibly in Christchurch

[Bjauck]

I live in Christchurch . I'm just saying, if I'm a first home buyer.. i would be looking around New Zealand... possibly in Christchurch

Sometimes is not as easy as that. I guess it depends on the circumstances of the First home buyer, especially as the average age of a FHB increases. Many may have family, community and career commitments and the affordable towns at the opposite end of the country may not offer the career opportunity, family support, facilities etc.

[ynot]

I live in Christchurch . I'm just saying, if I'm a first home buyer.. i would be looking around New Zealand... possibly in Christchurch

Slightly off topic but considering Christchurch winters, what heating do you (and your tenants) prefer down there ?

[snigmac]

Heating can be problematic. For a household of 5, a $4-500 monthly power bill in June, July, August is not uncommon.

I use Powershop. My boarders have normal heaters during the night. During the day its not that cold, even in winter. It does get very cold in the morning and at night.

[Aaron]

According to this article 1st home buyers are sort of screwed.

https://www.interest.co.nz/personal-...we-avoid-toxic

-Too much immigration

-Too few houses built

-Too much easy money and low interest rates to ramp it all up.

Already whingers in the news complaining about labour shortages, rising mortgage costs etc.

Not likely these factors will reverse for any significant period.

[Valuegrowth]

Other banks are following ANZ Bank's rate cut move.

https://www.stuff.co.nz/business/300...-rate-cut-move

It seems NZ is following the USA.

https://www.bizjournals.com/losangel...oric-rise.html

[Logen Ninefingers]

Other banks are following ANZ Bank's rate cut move.

https://www.stuff.co.nz/business/300...-rate-cut-move

It seems NZ is following the USA.

https://www.bizjournals.com/losangel...oric-rise.html

It was only on certain rates, to try and create some ‘warm fuzzies’ around a property market in free fall no doubt. NZ just posted 7.3% annual inflation, probably another 75 bps rise to the OCR coming up, so the property market spruikers will need to put down the hopium and get back on the copium.

[Bjauck]

It was only on certain rates, to try and create some ‘warm fuzzies’ around a property market in free fall no doubt. NZ just posted 7.3% annual inflation, probably another 75 bps rise to the OCR coming up, so the property market spruikers will need to put down the hopium and get back on the copium.

The latest figures reveal that House prices increased over the last year. Auckland asking prices are up 8%. The market is currently removing the hyper-inflated rises that occurred as a result of the over-stimulation put in place during Covid. NZ media get worked up when annual increases are less than 10%.

https://www.newshub.co.nz/home/money...ures-show.html

[Logen Ninefingers]

The latest figures reveal that House prices increased over the last year. Auckland asking prices are up 8%. The market is currently removing the hyper-inflated rises that occurred as a result of the over-stimulation put in place during Covid. NZ media get worked up when annual increases are less than 10%.

https://www.newshub.co.nz/home/money...ures-show.html

Sounds like a green light for Reserve Bank to keep raising rates. They won’t be bothered by a ‘media beat-up’ alleging high inflation and declining economic activity.

[JBmurc]

Sounds like a green light for Reserve Bank to keep raising rates. They won’t be bothered by a ‘media beat-up’ alleging high inflation and declining economic activity.

Yes I think we will see peak rates hit 7-8% for the lowest fixed term RES home loans and hold these levels till the breaks the over leveraged and see unemployment starts to move north and Morg sales start to rise