First time buyers: help is on its way
It seems quite some time since I last wrote about the Upper Hutt residential market but as the most recent sales statistics are now out, it seems appropriate to look at them and see what’s happening in our fair city. The good news is that with April sales concluded we can see that the market is faring better than 2014. From January 1st to April 30th there were 30 sales more than the previous year, as good as this is, it is still 61 sales down on 2013, obviously the Loan Value Restrictions are still having an impact on our market.
Interestingly the Reserve Bank governor, Graeme Wheeler has recently relaxed the banks’ lending criteria allowing the big 4 banks to lend more loans under the 20% threshold in an attempt to kick start the housing market in the regions, while imposing further restrictions on investors in Auckland.
The government has also come to the aid of first time buyers with helpful changes to kiwisaver enabling more to be used as deposit for a home.
The market is moving steadily enough and with these recent changes it seems like positive times for property in Upper Hutt are just around the corner.
If you are thinking of selling your home, would like an appraisal, or want more information on the Upper Hutt property market please call me on the numbers below or contact me via email firstname.lastname@example.org alternately fill in your details here on my website.
(04) 212 6787
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