Home values rise fastest in 12yrs. Week by week goes by and we still read and hear the same things. House values increasing at alarming rates. This Has been fueled by record migration , a limited supply of housing , record low interest rates and now investors buying up large before new restrictions get introduced.
The prospect of further Reserve Bank restrictions to curb investor activity in the housing market seems to have prompted a surge in investor activity as buyers acquire as many properties as possible under current rules before any other restrictions are introduced.
Some 46% of Auckland home sales were to investors up from 37% in 2012.
The average NZ home rose by 13.5 %.
To find out more about increases in different parts of the country and read more about this crisis please click onto attached link.
It is becoming more and more difficult for our children’s generation to afford housing and this situation we are in unfortunately is doing nothing to ease that crisis. NZ home values rise at the fastest pace in 12 years in June, QV says – Yahoo Finance New Zealand