The overheated property market has cooled somewhat over summer, and the Reserve Bank has responded with a slight loosening of the Loan to Value Ratio rules around lending. For first home buyers who have been discouraged over the past 2 years it is a change that could enable them to realise their dream of home ownership.
In Auckland specifically, the market is slowly settling back to a more normal state and investors have been less active due to LVR restrictions and the possibility of changes to the rules around negative gearing. This has put first home buyers in the box seat.
Mortgage Express has more on the changes we are seeing in the market and how they may affect you - read more by clicking on the 'full article' button below.