Rising rates will cool market: ANZ
In their latest Property Focus report, they say that affordability is declining because of rising interest rates, which are a key driver of the property cycle.
This was likely to continue, which would slow the housing market, they said.
As a proportion of income, mortgage repayments are back to a four-year high and are approaching the 50% level.
Of the ten gauges they use to determine the likely direction of the housing market, only migration is pointing purely up. It is currently at a 10-year high and climbing, as fewer New Zealanders leave and more people move to this country from overseas.
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