Could this summer boom?
A look at the House Price Index from the Real Estate Institute New Zealand, reveals some interesting patterns. Historically it seems there has been flat periods of growth in Auckland lasting about three to four years. Early 2000s, the big GFC in 2008 and then the latest starting around 2017.
A word of caution, history does not repeat itself exactly.
The super low Interest Rates
Having the lowest OCR ever at this point in the housing cycle is interesting to watch. A bigger impact might be from the banks loosening their criteria, which is starting to happen now. This is after many years of the banks tightening rules.
