Houses ‘more affordable’, while rents tack the other way
Firm expects Reserve Bank to hold bank rate steady on Wednesday, but mortgage rates to ‘keep falling regardless’.
Brent Melville
Wed, 14 Aug 2024
Flat real estate pricing, following a protracted high mortgage rate cycle, has seen New Zealand house prices head into more affordable territory, with ‘value-to-income’ ratios back to mid-2020 levels of 7.7 times.
That’s well down on the peak of 10.2 times, which the market hit during late
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Brent Melville
Wed, 14 Aug 2024
Contact the Writer: bmelville@nbr.co.nz
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Houses ‘more affordable’, while rents tack the other way
Property,
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