Mortgage interest rates are set to stay low for the foreseeable future but I think they are very much now at their lowest point.
With incredibly loose monetary policy implemented around the world we are going through uncertain economic times.
In the Auckland region we have a shortage of properties for sale, high immigration, and money coming in from China. All of these factors along with low interest rates and increased rating valuations will fuel further house price appreciation through the first half of 2015.
The property searching process has often been likened to a filter funnel. In some ways no different from the decision process of buying a car or a piece of white ware.
The property market is well recognised as having distinct cycles. However, I think there is also a kind of wave-like nature to property markets.
The short answer is yes. However as ever something as significant and life-changing should not be acted upon based on one piece of advice without a good degree of supporting facts.
Auckland is a vast and fast growing city; it is fair to say it is a city with sufficient scale to be considered a property market in its own right.
We had a Monty Python moment this week with the first OCR change in almost four years.
From what I see, the market is softening quickly. Listings are up, auction clearance rates are down, the "bullish" stories are not as fervent.
No government has lost an election because house prices increased. This goes to the heart of why we have seen decades of government in-action.
2013 looks like it is shaping up to be another big year for Auckland property. Prices look like they could go higher in the growth suburbs, fuelled by the media, general population growth, and lots of investors late to the party.
Lenders are becoming smarter when it comes to credit policy and this is set to benefit investors and first home buyers.