Kiwis make no attempt to pay off their mortgages

As many as one in four homeowners are treading water on their mortgage repayments, making no attempt to repay the debt.

It is easy to see the appeal of an interest-only loan. Borrowers save money by only paying off the interest, rather than worrying about the actual principal. However, it can be a risky product.

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House price’s rate of growth slowing

The housing market had eased slightly but valuers say home buyers are likely to come back in force now that that spring is here and the election is over.

New Zealand’s largest valuation and property services company, Quotable Value’s (QV) latest monthly figures show national house values are up 6.4 per cent in September compared to last year. House values increased 1.1 per cent over the past three months and the national average house price was now $481,497.

QV’s index showed house prices continued to improve although the rate of growth was slowing, says national spokeswoman Andrea Rush.  “Following a lull in sales activity and low listings in the lead-up to the election, the election result coupled with the coming of spring and stable interest rates is bringing renewed interest and activity to the market,” she said.

How do New Zealand’s regions compare?

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