Is it coming – if it is when or is it here now?

The Property Market Crash – has been predicted by some as inevitable. At www.propertynoise.co.nz we have been saying for sometime a market correction is overdue.

 

 

The reality is we are amidst of the correction now – and in terms of the above property clock, we are a 1 o’clock in our humble opinion.

 

The Key FACTS are:

1/ Volume of sales are down – because of less demand

2/ Banks are restricting access to finance – as they know we are in for a correction

3/ Mortgage rates will rise and some (perhaps many) will be left high and dry. Ok to have a $700,000 mortgage at 5% – try 8% – OUCH!

4/ LVR and Landlord restrictions are here to stay

5/ A Labour led government will STOP foreign ownership on NZ land, something the National Government turned a blind eye too because it favoured their followers/constituents more than others

Written by: www.propertynoise.co.nz