House Prices Rise Again – Roost Report

Home loan affordability worsened nationally in October because of a rise in median house prices, but an improving outlook for lower interest rates is boosting turnover and borrower demand.

The Roost Home Loan Affordability report for October showed a slight deterioration from September, largely due to a rise in the median house price to NZ$359,000 from NZ$350,000.

Floating mortgage rates were steady and fixed mortgage rates edged lower, moving in line with financial market expectations for a fall in the Official Cash Rate over the next year. Last month economists and markets had expected the next move to be a rise in the rate from midway through next year

Read commentary on the report here:

http://www.interest.co.nz/property/56844/roost-home-loan-affordability-report-october-shows-deterioration-nationally-falling-n

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