If you’re hunting for a section to build your new home on, be careful. While most of the decisions you make will be based on personal preferences like the location or view, it’s important to also understand what is going on beneath the surface.
After cutting rates at its last two meetings the RBNZ decided to again reduce interest rates by another 0.25 basis points to 2.75%.
After cutting rates last month the RBNZ, decided to reduce interest rates by another 0.25 basis points to 3.00%. Ongoing concerns over falling dairy prices, global economic volatility and an overvalued dollar have all combined to ensure a second consecutive rate cut.
What happened in July?
The Reserve Bank cut the Official Cash Rate from 3.25 to 3 per cent.
Spring is just around the corner, so start planning now.
After holding the cash rate steady for the past six meetings the RBNZ, decided to cut rates by 0.25% to 3.25% in June. With steps being taken to reduce the strong price growth in Auckland’s property market and inflation close to zero, the RBNZ felt the time is right to begin its rate cutting cycle.
Less competition, more leverage
While Spring is a popular time for vendors, the condition of the market at any point in time holds just as much influence.