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Many homes being passed in with no bids at Barfoot & Thompson's latest auctions
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only difference this time is that not only has the LVR increased again banks are looking to increase mortgage rates as well. what happens after February 2017 will be very interesting.
anyone have any thoughts on what will happen after February 2017 ?
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Originally posted by Gary Lin View PostSame as after 1 Oct 2015, and we all know what happens after Feb 2016.
Central Barfoot auction room is still pretty reasonable, 40-50% success rate on the day
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Auckland market warms again. Supply and demand.
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Originally posted by Bobsyouruncle View PostOr it cools or it goes bananas. Just too many uncertainties really. I can't see any disasters ahead for Auckland economically. In fact part of our best place in the world to live award last week was built on how well governed we are as a nation, which really means Auckland. So go go gadget gary, keep the buying machine rolling I reckon.
The 40% deposit is a major change.
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Also different this time:
- 40% LVR aside, banks generally tightening up on lending
- 2nd tier lenders generally not an option to circumvent the LVR
- mortgage rate outlook is increasing rather than decreasing
- (diminishing) threat of Debt to Income ratios to prevent further increases ie: capital gain
But not to surprising if it bounces back somewhat next year, it just looks like it is less likely than last time.
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