March 12, 2024
Australia News

Auctions are in a declining trend, driving house prices lower.

House prices are in a downward cycle, and sellers who need a sale are becoming more flexible on price. However, motivated sellers represent a more significant proportion of the market as prices fall. Many homeowners who are not in a hurry to sell are postponing their campaigns until next year. At the same time, this spring’s sellers are mainly cognisant that they should not anticipate prices comparable to those during the housing bubble. Rising interest rates have reduced the amount of money that purchasers can borrow and spend at auctions, and some sellers had sold for somewhat less than their

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March 12, 2024 No Comments
New Zealand News

New Zealand becomes the ‘kiwi in the coalmine’ as property values fall and mortgage repayments increase.

Homeowners in New Zealand who made their purchases during the height of the country’s inflated property market have been cautioned by analysts that sharply rising interest rates might put an enormous financial strain on them. Rising interest rates and decreasing house values have put some borrowers at risk of negative equity, where they owe more on their mortgage than their home is worth. This has become New Zealand the “kiwi in the coalmine” for the world’s property markets. “If you map our rent-to-house prices and income-to-house prices, New Zealand is in a world of its own,” said Dr. Michael Rehm,

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March 12, 2024 No Comments