What recession? Herne Bay, Arrowtown ride it out

Arrowtown house prices are up an average of $102,750 in three months. (Image: BusinessDesk)

Thu, 22 Dec 2022

As a rule of thumb, house prices are driven by affordability and tend to react inversely to interest and mortgage rates.In the case of New Zealand, there are other, more recent, barriers thrown in the way of buyers in a deliberate attempt to slow the overheated property market. Those measures have included tighter lending regulations, loan-to-value ratio rules and a bunch more houses on the market in the wake of a record construction cycle. By consensus estimates, this year total sales volumes will be at about 67,000 – the lowes...

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