So, it was hard to miss the news of National’s election victory but what does this political shake-up mean for the real estate market? Let's look into the details.
Positive News for Property Investors
Great news, property investors! National's win brings a promise that will brighten your day. Their commitment to reversing interest deductibility for investment properties indicates potential relief for landlords. It's a silver lining for those in the property game.
Now, here’s your chance, first-time buyers! Currently, interest rates are a bit high for property investors, making it unlikely we’ll see a flood of investors entering the market right away. This means there's a window of time where you won’t face fierce competition from investors. How long will the window remain open is a tough question but we think it could be until end of 2024 into 2025.
FHB 's - It's Your Time to Shine
Yes, rates are relatively high at the moment, but the good news is they seem to have reached their peak. If you can afford the current rates, things are only expected to improve from here. House prices are expected to rise, and interest rates are projected to decrease in the next 12-18 months, albeit not reaching the crazy lows of the Covid era 😊. Also, market prices appear to have stabilized which should give you confidence that house values will not continue to fall.
Seek Expert Guidance
Exciting prospects, right? But before you jump in, pause for a bit. Remember, everyone’s financial situation is different. That’s why it’s crucial to seek personalised advice. Connect with us to offer tailored insights based on your unique circumstances. Our expertise will guide you in making wise decisions in this ever-evolving real estate landscape.
Reach out here or below to make a time to for a quick chat about your property journey.