Dear Wellington Property Owner,

This week has seen the election results transpire into the market and it has made little to no change in the momentum and the confidence of the buyers in the market across New Zealand. The stability of outcome the election results achieved have allowed a continuance of supply of new property to the market while demand is still stronger in the majority of sectors.

News out this week has seen Reserve Bank Governor Adrian Orr warning that the Central Bank is “looking at” the prospect of re-introducing loan to value ratio (LVR) limits on bank mortgage lending. This comes off the back of the significant increase in the amount of high LVR lending, particularly to first home buyers and investors who have positively returned to the market on long-term low interest rates and the affordability around borrowing.

We have been showing the effect of the demand created from first home buyers and investors coming into the market and this has lessened the amount of inventory available across the real estate market which continues to put pressure on prices in the favour of the seller.

Right now is the time for us to talk about the potential of your Wellington home, contact us anytime halina@wellingtonresidential.co.nz or call 0212263917

 

Ray White NOW 20-26 October 2020

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Right now is the time for us to talk about the potential of your Wellington home, contact us anytime halina@wellingtonresidential.co.nz or call 0212263917