The Elections And Your Property | Auckland House Buyers
The Elections And Your Property
In 3 months time New Zealand will have our Elections on the 23rd September 2017. For a lot of New Zealander’s that are looking to buy property or sell their house this can be a difficult time. We’re currently in a state of limo as a result of the market softening. We believe this is because New Zealanders are waiting until the outcome this years election.
Currently we have 40% deposit requirements for investors under National’s regime. As a result of this increase to 40% in 2016 this has locked out many investors out of the market. If after elections this increases beyond 40%, this will only further add to the strain investors are feeling when getting lending.
For first home buyers this could be a great opportunity to purchase property. When there are more sellers opposed to buyers in the market this is what is known as a buyers market. In a buyers market, selling your property can often be difficult. This is because there is a lack of demand vs supply.
After the elections if the government eases on lending restrictions there will be an opportunity for buyers to re-enter the market.
Auckland House Buyers buys houses giving our vendors certainty with a fair offer.