Waikato gets set for Auckland home invasion
Source: REINZ
Auckland and Hamilton sales price medians for the year ending April.
New lending rules have thrust Waikato homes front and centre of Auckland property investors - and that could see prices soar here come November.
The Reserve Bank has announced investors north of the Bombay Hills will have to cough up a 30 per cent deposit on homes from October, in a desperate attempt to cool Auckland's piping hot property market.
That will mean finding a $216,000 deposit if the current median house price in Auckland region of $720,000 holds for the next few months.
But just down the road in Waikato, investors will only have to find 15 per cent for a loan. Given our current regional median house price of $350,000, the $52,500 needed could see an influx of homebuyers looking for a better deal.
Numbers like those will make the home of the Chiefs irresistible, say real estate agents.
The general manager of Harcourts Hamilton, Brian King, said the announcement would add more Aucklanders to the mix of those hunting houses here.
"It will certainly help people to feel that maybe Hamilton is a bloody good alternative to where they are in Auckland at the moment.
"We're getting a huge amount of Auckland buyers coming into the market anyway, so we are going to see maybe more come in."
Source: REINZ
Auckland and Hamilton sales price medians for the year ending April.
New lending rules have thrust Waikato homes front and centre of Auckland property investors - and that could see prices soar here come November.
The Reserve Bank has announced investors north of the Bombay Hills will have to cough up a 30 per cent deposit on homes from October, in a desperate attempt to cool Auckland's piping hot property market.
That will mean finding a $216,000 deposit if the current median house price in Auckland region of $720,000 holds for the next few months.
But just down the road in Waikato, investors will only have to find 15 per cent for a loan. Given our current regional median house price of $350,000, the $52,500 needed could see an influx of homebuyers looking for a better deal.
Numbers like those will make the home of the Chiefs irresistible, say real estate agents.
The general manager of Harcourts Hamilton, Brian King, said the announcement would add more Aucklanders to the mix of those hunting houses here.
"It will certainly help people to feel that maybe Hamilton is a bloody good alternative to where they are in Auckland at the moment.
"We're getting a huge amount of Auckland buyers coming into the market anyway, so we are going to see maybe more come in."
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