PHOTO: Bindi Norwell – REINZ
Record low interest rates are providing first home buyers a chance to get onto the property ladder.
That’s according to Real Estate Institute of New Zealand chief executive Bindi Norwell who shared her analysis of the property market on TVNZ 1’s Breakfast today.
“It’s a direct correlation with low interest rates and house prices,” Ms Norwell said.
“Mortgage interest rates are the lowest they’ve ever been in this country.
Ms Norwell is upbeat about the Auckland housing market, saying: “What we’re seeing from our data is there is definitely more confidence in the market particularly in Auckland.