Hints of market resurgence

The real estate website saw over one million unique browsers hit their site in August and this was a 24.0% increase from August last year.

Realestate.co.nz spokesperson Vanessa Taylor says this coincided with banks lowering home loan interest rates after the Reserve Bank cut the OCR to a record low of 1.0% earlier in the month.

“Buyers can look at the property market with fresh eyes in terms of affordability, either for a first home, or for those looking to move up the property ladder with a higher level of equity.”

“When it comes to buying a home, affordability has always been the primary consideration for most people. The interest rate drop will be a game changer when it comes to the range of choice.”