Each week BusinessDesk and the NZ Herald’s Cooking the Books podcast tackles a different money problem. Today, it’s how to handle a falling property market, whether you’re an investor or first home buyer. Hosted by Frances Cook.
Slides at the park might be a bit of fun, but when it comes to the property market, the latest downward slide has probably not left many people laughing.
Real Estate Institute data shows sales are way down, 39% year-on-year, while Auckland house prices have fallen 18% to a new median value of $1.05 million.
The median sale price for New Zealand overall fell over the past year by 12% to $790,000.
Now property always has winners and losers. Frankly, a lot of first-home buyers will be excited to hear this, and feel like now is a great time to be buying. They’re not wrong.
However, I’ve also had lots of messages from people who would like to invest in property at some stage, wondering if that’s still a good idea, or if the best time has been and gone.
You know me, I love to make sure we’re answering your burning questions.
So let’s get into it – what do you need to know if you’re a first home buyer, how is it different if you want to invest, and are there any mortgage tips and tricks to help you out along the way?
For the latest podcast, I talked to Ed McKnight from Opes Partners.
For the interview, listen to the podcast here.
If you have a question about this podcast or a question you'd like answered in the next one, come and talk to me about it. I'm on Facebook here, Instagram here, and Twitter here.
Listen to the full interview on the Cooking the Books podcast. You can subscribe on iHeartRadio, Apple Podcasts, or Spotify.
