Budget 2023 has lurched many property owners and investors back on tenter-hooks as many economists now predict higher interest rates are well and truly back-on-the-table as the budget adds inflationary pressures in the short-term.
We shall continue, in-turn, to ensure we are maximising the value of our landlord clients rental investments.
On a more positive front, it was pleasing to read on the 1st of May 2023 from OneRoof-Valocity, “a likely end to the house price slump, with the nationwide rate of decline slowing from a peak of almost 5% in September to 2% in April.” While the slowdown in the rate of decline varies from region to region and suggests there are further value declines to come for some, much of the gains made during the boom have survived. New Zealand house prices are still well above pre-pandemic levels, even after the sharpest housing market decline since the GFC. The article went on to say, “Even homeowners in the two regions worst affected by the slump are ahead on paper. According to the OneRoof-Valocity figures, Auckland property values are almost 17% ($187,000) higher than in March 2020, while Wellington values are 13.6% ($105,000) higher. Both regions have seen values declines of around 20% since market peak last year.
Our commitment remains that we will continue to seek out and study expert perspectives. We understand that staying ahead in the property management industry requires not only timely information but also the ability to adapt to changing market dynamics.
Our team of experienced professionals shall continue to diligently research and compile the most relevant content for your benefit. And, as always, our dedicated team remains committed to providing you with exceptional service and support, tailored to your unique requirements.