Things looking up for property investors

A survey of more than 550 property investors, run by Mike Pero Mortgages and Landlords.co.nz, found falling interest rates are making residential property investment more attractive. The survey takes place quarterly to track how investors feel about the residential property market.

Mike Pero Mortgages chief executive Shaun Riley says the latest rate cut has certainly helped home affordability.

“It is a good time to buy, both for investors and for private buyers. House prices are cheaper than they have been for a number of years and with falling interest rates, home affordability has improved considerably over the past year.”

Nearly two-thirds of survey respondents (64%) said rate cuts were making property investment more attractive. The survey results also showed very few investors had sold properties in the past six months (5.1%), however a much bigger percentage were now looking to buy.