PHOTO: The Reserve Bank released data this week which showed the highest lending month since 2014. Photo credit: Getty
The property market is “as good as it’s ever been” if you’re a mortgage broker – but high demand means it’s not great news for everyone.
Mark Collins, the chief executive officer of Mike Pero Mortgages, told Magic Talk the market is heating up.
“[There’s been] years of underinvestment, no matter what Government has been in power they haven’t been able to build enough homes fast enough,” he told host Peter Williams.
“And now you’ve got COVID, so a bunch of cashed-up Kiwis are coming back and that will heat the market for sure”.
The Reserve Bank released data this week which showed the highest lending month since 2014 with more than 7.3 billion being lent for mortgages. As well as this loan-to-value (LVR) restrictions and record-low mortgage rates mean first home buyers are in a good position.
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