PHOTO: NZ property. FILE
According to STUFF the chance of snapping up a property bargain in 2022 will be higher than it has been in years, according to the chief executive of a nation-wide mortgage brokerage.
The market’s biggest players remain at odds about what the market will do in 2022, and with headwinds and tailwinds alike gathering force, there’s no consensus over whether they will send prices heading north or south.
However, Mortgage Lab chief executive Rupert Gough says a combination of new lending rules that he estimates reduced the number of eligible buyers by about 30 per cent, and mounting pressure on investors from rising interest rates and larger tax bills, added up to a greater chance for deals.
”I would be surprised if you see a sudden flurry of them, but it will feel like it, because there have been none for the past couple of years,” he says.
Gough expects the lion’s share of bargains to start appearing from July, when investors file tax returns and realise the impact that being unable to deduct mortgage interest from rental earnings will have on their IRD bill.
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