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What happened in July?
The Reserve Bank cut the Official Cash Rate from 3.25 to 3 per cent.
Making that leap from renting to home ownership is never easy, but new research by LJ Hooker shows Generation Y is finding innovative ways to get it’s foot on the property ladder.
Spring is just around the corner, so start planning now.
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.
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.
Whether home ownership is on your horizon or not, budgeting helps.
Everyone has a Different Lifestyle
The continuous focus on interest rates is a timely reminder for homeowners with a mortgage to remain disciplined in managing their finances.