The votes are in, and the questions are starting. What does the result mean for property investors, traders and developers, and how should you position yourself heading into 2027?
The Reserve Bank of New Zealand (RBNZ) caught the market off guard yesterday afternoon, holding the Official Cash Rate (OCR) at 2.75% rather than delivering the widely expected increase to 3.00%.
Saving a 20% deposit is still the main thing stopping many buyers. One bank now offers more options for buyers who have less saved, for both homes and investment properties.
“How much do I need to earn to buy a house?”
It sounds like a straightforward question, but there isn’t one salary that guarantees you a mortgage. Two households earning the same amount
could have quite different borrowing options.
Your income matters, but so do your deposit, expenses, debts and the lender assessing your application.
If you want a new rental, a new home or a refinance settled before Christmas, you need your application in by mid-November. Banks wind down in early December, and anything lodged after that can sit in a queue until late January.
If you’re self-employed and planning to borrow in the next few months, banks now want your financial statements for the year ended 31 March 2026. If your accountant hasn’t finished them yet, your application can stall.
As retirement gets closer, it’s worth looking at whether your mortgage is set up for what comes next. Paying it off may be the goal, but you may also want money available for unexpected expenses, travel or helping your children into a home.
A new job, a pay rise or a move into self-employment can change more than your working week. It can also affect how a bank assesses your income and whether your mortgage still fits your budget.