ASB

PHOTO: ASB – Housing Report | October 2020

PRESS RELEASE ASB

  • Investors and first-home buyers have been the most active borrowers recently
  • High-LVR investor borrowing in particular has jumped
  • The central/lower North Island, notably Wellington, are the tightest markets amongst the regions

The turnaround in the fortunes of the housing market since lockdown has been remarkable. In our Home Economics
report last week, we materially lifted our house price inflation forecasts for 2020 and 2021. We now see prices
sustaining their recent momentum, with annual house price inflation tipped at 12% by June of next year.

Given the sheer strength in the market, it seems logical to ask: who’s buying? Where are the hot spots? In this short
note, we peruse the data on offer to try and find out. We look at housing activity across buyer cohorts, regions, price
brackets, and residency.

Overall, we find that first-home buyers and high-LVR investors have been the most active
borrowers.

READ THE FULL REPORT HERE:  ASB -Housing Report October 2020

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