Personalised mortgage advice: NZ Mortgages

Christmas 2024 brings merry news of lower interest rates.

As 2024 winds down, the property market is navigating a mix of stabilising interest rates and the seasonal dynamics of home buying. The recent reduction in the Official Cash Rate (OCR) to 4.25% down from 4.75% does mean better rates are on the cards from the banks, with some having already reduced their offerings. The decrease has been a positive signal, easing borrowing costs across the board for homebuyers and investors alike.

The lead-up to Christmas is a quieter time in the property market, as buyers and sellers pause for the holiday season. However, this year we have seen an increase in pre-approvals, indicating strong buyer interest. Properties priced under $750,000 remain a competitive price point, with investors and first home buyers coming up against one another. For buyers in this range, acting decisively before 2025 gets underway could be beneficial as house prices will rise, as rates continue to come down.

We here at NZ Mortgages are still in love with Christchurch, due to its relatively affordable property prices compared to other major centres. New builds, townhouses, and family homes remain key segments driving interest. For investors, recent changes like the reduction of the bright-line test from 10 years to 2 years are creating opportunities to re-enter the market.

For those contemplating a move, the festive season offers unique opportunities. Sellers are eager to have properties off their plates prior to Christmas and may be willing to negotiate further. As always, consulting a mortgage adviser from the team at NZ Mortgages will help you to secure the best deal in the market, and make sure your structure suits your financial goals and is tailored to your lifestyle.

If you are interested in personalised advice now or in the new year, don’t hesitate to reach out to our team at hello@nzmortgages.co.nz or call us at 0800 100 300.