Home loans stories
First-home buyers could find it easier to secure mortgages as lending limits are raised from 1 June, easing pressure on banks.
Higher mortgage rates and tighter lending rules have left New Zealand’s housing market weaker than expected, with sales at a 12-year low.
Sales rose nearly 8% in November, offering a rare sign of resilience as New Zealand’s median house price fell 12.4% year on year.
Higher borrowing costs are pushing first-home buyers towards brokers as the Reserve Bank lifts the Official Cash Rate to 4.25%.
Sharply higher mortgage rates and refinancing demand are set to deepen New Zealand’s property slowdown, CoreLogic warns.
Demand is still holding up this winter, with first-home buyers helped by easier deposit rules and lending changes despite softer sales.
Tighter lending and higher mortgage costs have pushed first home buyers to a seven-year low, even as government support rules are loosened.
Tighter credit and higher rates are leaving first home buyers more exposed, with some regions now showing early signs of vulnerability.
Mortgage activity has slumped as tighter lending and higher rates cool demand, with CoreLogic warning house prices may fall further.
Record resale profits are still spreading nationwide, with 99.3% of homes sold in Q4 2021 making a gross gain, CoreLogic says.
Higher borrowing costs are cooling sales and slowing price growth, with more than half of NZ mortgages set to reset this year.
Mortgage repayments now absorb nearly half of household income, as record house prices and weaker wages push affordability to fresh lows.
Higher mortgage rates and tighter lending rules are already cooling New Zealand’s housing market, with investor demand slipping further.
Higher mortgage costs are unlikely to deter first-time buyers while rents keep climbing and remain above many monthly loan repayments.
Online property traffic is staying strong during New Zealand's Level 4 lockdown, as buyers browse listings and sellers turn to virtual appraisals.
Borrowers face tighter lending rules as the Reserve Bank moves to curb risky loans amid house values rising 1.8% in July.
Rising mortgage rates and tax changes are set to cool sales, but CoreLogic says a full property downturn still looks unlikely.
Record-low inventory is pushing New Zealand house prices higher, leaving first-time buyers with fewer affordable options.
Government help may be needed as first-time purchasers’ share of the market falls to its lowest level since 2018, CoreLogic says.
Record prices and a 14-year sales high show New Zealand's housing market is still racing ahead despite tighter lending rules and tax changes.
