For aspiring first-home buyers, price and income caps will now be reviewed every six months. Housing Minister Megan Woods said Budget 2022 would help more people get first home grants and loans.
Increasing interest rates and tighter lending rules have caused Dunedin’s house prices to take a sharp fall and a mortgage broker is warning worse is yet to come.
One in four South Islanders believe house prices in their area are too high, but despite this, more than a third are confident they could buy a house in the current market.
There are fears thousands of first home buyers will be tipped into financial distress by rising mortgage rates, as the Reserve Bank tries to battle inflation.
A Dunedin woman who became the face of opposition to controversial lending laws says she is "thrilled" to see changes and hopes speaking out made a difference.
When making profits for people no longer interested Kerrie Young, she took a leap of faith into the public sector. Now she is in charge of the lower South Island’s public housing stock.
Approval rates for mortgages in Otago and Southland dropped by 6.5% after the Govt's new lending rules came in, the latest figures reveal. And a financial expert believes the rate could be even higher now.
Median house values in four areas of New Zealand rose by more than $550,000 last year and three of those are in the Queenstown-Lakes District, while in Dunedin, Vauxhall has become the city's third million-dollar suburb.
Minister of Commerce and Consumer Affairs David Clark has called on a planned investigation into new home loan regulations to be brought forward amid concerns banks were adopting too hard a line with the guidelines.