🏡3 Key Takeaways from Yesterday’s BNZ Housing Market Update for Property Owners & Investors💡
Here is my analysis:
1. Market opportunities: The anticipated growth is not a boom but rather a return to average market conditions. This may offer a strong opportunity for buyers to enter the market ahead of the expected price increases. Keep a lookout on listings.
2. Mortgage planning: With floating rates potentially dropping to 6% by mid-2025, now could be a good time to secure shorter-term fixed rates while still monitoring for further reductions. Talk to your mortgage adviser.
3. Long-term value: The long-term outlook remains strong, with affordability improving (due to falling prices, rising incomes, and lower interest rates). Even with the projected price growth, we’re still far from the peaks of three years ago.
The Key Takeaway: The next 18 months could be an excellent opportunity to position yourself for future gains, with the market poised for a gradual recovery.
