Banks have been given an extra month to process their back log of Pre-approvals therefore from 1 October all loans new and pre-approvals will need to adhere to the 60% LVR restriction rules. Yesterday the OCR moved to it’s lowest rate of two percent and the dollar rose more than a cent against the greenback. It could have gone lower too due to weak global conditions.
Tag Archives | LVR restrictions
Into the lion’s den of PropertyTalk goes a prospective first home buyer. You may be thinking – it’s quite a brave move given PropertyTalk is mostly frequented by property investors and landlords. However this first home buyer has already learned a lot from the investors whom have replied and offered him various points of view and suggestions on how to secure a first home.
A property listings drought is adding further fuel to our over-heated property market. Property prices are increasing everywhere except Taranaki according to Trade Me Sales Price Index and that’s got the RBNZ considering further action to curb demand.
The bright-line rule and LVR restrictions come in this week, but don’t expect any major change in investor behaviour. Investors who have been actively buying rental properties over the last few months have already changed their behaviour so they can continue investing in property.