As experienced mortgage advisers, the team at O’Hagans understands that the New Zealand housing market can seem unpredictable! However, we’ve got good news for all the first home buyers out there as recent reports suggest that now is the ideal time to enter the market with fewer investors competing for properties.

According to the MPA Mag, the New Zealand housing market is experiencing a downturn, but experts predict this could be a temporary trend. Translation? You may just be able to snap up your dream home at a more affordable price, if you act soon! And if renowned economist Tony Alexander’s latest report is anything to go by, there are fewer investors in the market, which is fantastic news for first home buyers!

Alexander notes that recent government policies have made property investment less attractive, leading to less investor activity. His advice to first home buyers? “To repeat my main housing point of the past 6-9 months – if I were a young buyer and the bank calculations allowed, I would take advantage of the absence of investors and lower prices to secure a property to raise my family. I would not be trying to pick the bottom of the house price cycle.” 

For first home buyers who are hesitant to enter the market, now may be the time to act. With lower house prices, reduced investor competition, and the assistance of a knowledgeable and trusted mortgage adviser at O’Hagans, purchasing a property could well be within your reach!

We know that navigating the world of home loans can be a bit like trying to read a map in a foreign language! But don’t worry, the team at O’Hagans have been there, done that and we’ve got your back! Our team of mortgage advisers can provide advice and guidance at every step of the way, from assessing your borrowing capacity across a wide range of lenders to securing a loan approval.

So, let’s make 2023 the year you get the keys to your first home! Don’t let the housing market downturn, or higher interest rates, rain on your parade! Contact us today on 07 308 9910 to learn more about how we can help you to take advantage of the current market conditions and finally become a homeowner!

To read more about what the experts are saying, have a look at the links below:

Will the NZ house price downturn end soon? | NZ Adviser (mpamag.com)

https://www.tonyalexander.nz/wp-content/uploads/Tonys-View-20-April-2023.pdf

This post was written by

Simone Hojabri - who has written 2 posts