So, what have we got to look forward to in 2018?! More of the same?
Whilst the real estate market has taken a slightly different path with fewer listings than this time last year and perhaps a little uncertainty over values, the financial world has continued on a trend of increasingly selective lending by banks, with more business flowing to the smaller banks and finance companies.
Interest rates look to remain steady at their current levels for most of the year, so about the only change we might see is the impact of the reduction in deposit requirements for investment properties from 40% to 35% of the purchase price. What that change might mean for the property market and the availability and pricing of rental property, is yet to be seen. In the latter part of 2017 the Canterbury market experienced a slight easing in rental pricing, but this is unlikely to continue at least until there is some movement in the development of inner city housing.
Good loan applications will continue to be approved, but more challenging deals will continue to experience difficulty particularly in obtaining competitive interest rates.
For more up to date advice around your own situation, do give us a call.