Time running out for Auckland investors

Over the past few weeks the Reserve Bank has both helped and hurt investors looking to purchase in the greater Auckland area. On the one hand the reduction in the official Cash Rate of 0.25% has seen an immediate reduction in floating interest rates – with a potential ripple out to longer-term rates. On the other hand, they have also directed that from the 1st of October of this year investors will only be able to borrow a maximum of 70% against rental properties.

Over the past few weeks the Reserve Bank has both helped and hurt investors looking to purchase in the greater Auckland area. On the one hand the reduction in the official Cash Rate of 0.25% has seen an immediate reduction in floating interest rates – with a potential ripple out to longer-term rates. On the other hand, they have also directed that from the 1st of October of this year investors will only be able to borrow a maximum of 70% against rental properties.

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