04/04/2022
An interesting take on home buyers 'purchasing power', this article argues that Kiwis likely to have more purchase power if they set their sights on new builds. Do you agree?
A lot has been made of the new mortgage lending rules in the past six months. Changes as a result of the CCCFA have made it more difficult for homebuyers to borrow, with the anecdotal evidence pointing to applicants losing about 20% of their borrowing power.
That means a borrower who had a pre-approval for $1 million six months ago might be looking at around $800,000 now.
Kiwis likely to have more purchase power if they set their sights on new builds.