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Multi-offers are now becoming the norm and there are more properties being sold by auction again as the worm slowly turns. This is assisted by a more pragmatic application of the CCCFA and aligns with the main bank lenders getting their books into a more balanced position coupled with more availability of low deposit lending (under 20% lending) and more access to Kainga Ora First Home Loans with as little as 5% deposit.
An alternative view to what you might read in the media (and particularly social) with regards the current lending and property market - Paul Dow is an experienced Mortgage Advisor and Property Investor sharing his day to day experience of the current lending environment.
Bank Lending policies coupled with tweaks to Government Policies are once again opening the door wider for Lending to First Home Buyers – with as little as 10% deposit.
In the last quarter, values are up as follows; Auckland 1.3% (North Shore-Onewa was up 2.5%), Wellington 3%, Christchurch 1.7%, Dunedin 8.6%, Invercargill 9.3%, Gisborne 6.7%, Rotorua 4.5%.
Auckland increasing is seen as a significant change - and with low listings, strong employment, and easier lending conditions, the suggestion from numerous observers is that it's going to continue.
