The housing market is a hot topic of conversation at the moment, well around here anyway.
There is a lot of talk about how the prices of houses are plummeting. The national median dropped $10,000 in the last month. This is equivalent to $322 a day! While this sounds extremely depressing for homeowners, in actual fact it is great news for first-home buyers.
People are still needing to sell their homes for whatever reason, but in the last 6 months, the amount of houses on the market outweighs the number of buyers. When the market is flat like now, prices are always up for negotiation. Investors are holding back a bit at the moment, opening up more opportunity for first-home buyers.
Being a first-home buyer often puts you in a good position as you don’t have a condition to sell your current house. To a vendor, this can be very appealing. You have saved hard for your deposit, you have been paying into your KiwiSaver for over three years to boost that deposit, now it’s time to get your foot on the property ladder.
The best time to get into the market is when you are in the right financial position to do so. Markets can turn as quickly upwards as they can downwards. No one can predict it.
Why not come and talk to one of our Mortgage Advisers.
Being prepared with a pre-approval or having an application in process, gives you the confidence to negotiate on your first home.
Getting an application together can not only be time-consuming, but also confusing. Don’t leave it to the last minute. Our advisers can guide you through this process and be with you every step of the way. You may even be settled in your new home for summer.
We have advisers based in:
Give us a call now!
