Good news for first-home buyers: according to a new report from Moody’s Investors Service, low interest rates (coupled with slowing price growth and average salary increases) have improved housing affordability across the country.
To be more specific, in the year to March 2019, mortgage rates dropped by an average 0.44% while salaries increased by 2.8%. And analysts expect housing affordability to remain stable in the coming months.
Overall, the report paints a positive picture for the property market, mostly thanks to this year’s OCR cuts as well as the Government’s dismissal of capital gains tax. Of course, results vary region by region – and Auckland’s affordability is far from resolved – but opportunities are ripe for first-home buyers and investors to make their move.
Once again, our Mortgage Link advisers are here to save your clients money and time, by providing them with the most appropriate solutions for their circumstances.
To get in touch with the team at Mortgage Link, please contact:
021 835 506
Disclaimer: In preparation of this publication all care has been taken, however no warranty is provided as to the accuracy of the information and, as such, no responsibility is taken by Pivotal Financial for any errors or omissions.
This publication does not constitute personalised financial advice, may not be relevant to individual circumstances and should not be seen to constitute a recommendation of any description. Before taking any action in relation to matters dealt with in this publication please seek Professional Financial Advice.
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