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Has the NZ property market reached its peak?

March 8th, 2016.

2016 is already looking to be an interesting year in the NZ property markets with some questioning whether the Auckland market has finally peaked and whether it is now set for a major correction. In my opinion with the craziness and how out of hand the price increases were around the middle of last year it was always likely to settle down for a bit however with how strong migration continues to be and the demand we are still seeing in the Auckland market I think that as a long term bet Auckland is still a good play.

On the other hand we are financing a lot of investment around the country at the moment with a mixture of locals and also Auckland cash flowing into areas in the hope of better cashflow and also capital gains.
ASB recently released their Regional Economic Scoreboard which is worth a read if you are deliberating on areas to invest.
There is a good read HERE on how the lower interest rate environment has played its part in driving prices up and this this can be seen in other asset classes across the globe. One fear I have is what happens when or if rates eventually rise.

Indeed while Central Banks are using monetary policy to lower interest rates and most commentary here suggests further OCR cuts this year, offshore funding costs for our banks are on the rise which will have some effect on retail mortgage rates over time as well. There is a good summary of this HERE from pages 7-12.
If you want you mortgage rates assessed please don’t hesitate to contact us HERE.


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