WHAT TO EXPECT FROM 2019 PROPERTY MARKET

WHAT TO EXPECT FROM 2019 PROPERTY MARKET 2018 has been an interesting year for New Zealand’s Property market. With steady volumes and values indicating reliable growth across New Zealand, however notably the market interest mostly concentrated on the recent government policy and measures to curb property conjecture. Below mentioned are the summarized key topics on the property and economic outlook for 2019. LVR Modification: Lightening the restrictions of the LVR from January 2019 onwards will be the initial landmark. However, the effects the changes that might have on the market will be watchful as it is expected that the banks

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The Reserve Bank to relax the speed limits on High Loan to Value Ration Lending and additionally ​more loosening of the rules expected in the future.

The Reserve bank has pronounced to lighten the rules about the high loan to value ratio (LVR) housing lending in an expected move that might encourage the housing market. The development was announced on 27thNov as part of the bank’s latest Financial Stability ReportFrom 1 January 2019: Up to 20% (increased from 15%) of new mortgage loans to owner occupiers can have deposits of less than 20%. Up to 5% of new mortgage loans to property investors can have deposits of less than 30% (lowered from 35%). This is the next lightening of the LVRs, first introduced in the year 2013, which the RBNZ has

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