Rising house prices and what they mean for you – Collins & May Law

Friday 18 June 2021, 12:01PM
By Media Giant

House prices have increased by a median of $200,000 across the country during the past year.

Collins & May Law is drawing the attention of both first home and experienced buyers to this increase that is likely to impact the time that several people will be able to afford their dream home. Five regions have hit a record high: Auckland, Taranaki, Canterbury and Waikato, being at the forefront of the growth.

Buyers will need to save up longer, prepare more and have a higher deposit when they wish to purchase a house in the country. Due to some changes made by the government to the bright-line test rule and investors not being able to offset their home loan interest costs against rental income anymore, it will be crucial for individuals to have an experienced property lawyer on hand to get the legal support that they need.

Collins & May Law are expert property lawyers in the Wellington region who have helped several individuals and families get into their dream homes. If you have got any questions about what the house price increases might mean to you, get in contact with us today!

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