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Mortgage rules mean fewer homes selling at auction

The number of homes selling at auction has fallen from 80 percent in September to 48 percent. 

Fewer first home buyers contributed to this according to Barfoot and Thompson’s Peter Thompson.  There is also more choice for buyers, and agents are reporting that auctions are now not necessarily the best way to sell a property at the moment.

Source: NZ Herald

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Too soon to see effect of home loan restrictions

The Reserve Bank says it’s too early to decide whether the restrictions on low equity home loans has had the desired effect.

Real Estate institute figures show house sale prices continue to rise although indications are that sales volumes have slowed. However, volumes change more quickly than prices with volumes lower than expected for this time of year.

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