MARKET REPORT – August 2017

LVR & the upcoming election impact on market

The upcoming general election and the Reserve Bank’s Loan to Value Restrictions (LVRs) have cooled the New Zealand property market with the nationwide average asking price remaining relatively unchanged in the last month, according to the latest Trade Me Property Price Index.

Head of Trade Me Property Nigel Jeffries said New Zealand’s average asking price has stalled at $631,350 - down very slightly from $632,850 in June and falling 2.1 per cent since peaking at $644,000 in April.