With 2022 almost over, it’s time to start thinking about what the next year might hold for New Zealand’s housing market. Will values continue to rise? Will there be more first-time buyers entering the market? Here’s a look at what experts are predicting for New Zealand housing values in 2023.
One of the most common predictions is that housing values in 2023 will continue to grow, albeit at a slower rate than recent years. This is in line with long-term trends; since 1995, house prices have more than quadrupled. While a cooling off period was expected after such strong growth, the pandemic caused this to be greater than anticipated. However, now restrictions are beginning to ease and vaccines are readily available, it’s expected for the market to rebound in 2023.
Another trend expected to continue into 2023 is an increase in first-time buyers entering the market. This is thanks to the growing number of millennials who are ready to purchase first homes. First-time buyers have access to government initiatives such as KiwiSaver and Welcome Home Loans, making it easier to save for a deposit and get on the property ladder.
While there has been strong demand for all types of housing over the past few years, affordable housing demand is at the top. Population growth and low interest rates have made it cheaper to service a mortgage and, in response to this demand, we’re likely to see an increase in new property developments targeting first-time buyers, and lower income individuals. These will likely be in areas with good transport links and access to amenities.
The TL;DR
We hope that this blog post has given you a better understanding of what’s involved so that you can make informed decisions about your next investment!
Your Outside Team
Need a bit of assistance with your business? Contact an Outside Accounting team member today and learn more about our fixed fees. You won’t regret it.
Aside from business consultation, we are business accountants Wellington who offer accounting, bookkeeping, payroll services designed to help you achieve greater financial success.
You can click here to speak to a business, accounting and bookkeeping firm. We will give you a call to know more about your needs. We will explain to you how we can improve your business.
Address: Level 2, 182 Vivian Street,
Te Aro, Wellington 6011, New Zealand
Mail: PO Box 24-457, Wellington 6142
Phone: 04 889 2975
As a business owner, reviewing your financial reports each month is essential for maintaining control and steering your business in the right direction. Here are six key reasons why you should prioritize this important task.
Starting your own business is exciting, but handling all the financial details can be overwhelming. Instead of spending your time managing the books, you could focus on growing your business. This is where expert accounting firms like Outside Accounting step in.
Choosing the right accounting software is crucial for your small business, and with so many options available, it can be challenging to decide which one is best. Xero Accounting Software stands out as a popular choice, but what makes it so special? In this article, we’ll explore six key benefits of using Xero for your small business. If you’re looking for a skilled, cost-effective accountant in Wellington to assist with your small business bookkeeping, reach out to the friendly team at Outside Accounting today.
Bookkeeping fraud, including embezzlement and theft from company accounts, can quietly drain your business’s resources for years before being discovered. The consequences can be devastating. This guide will explore how bookkeeping fraud happens and provide five effective strategies to protect your business from it.
Taking control of your small business’s financial operations is a critical step toward long-term success. With accurate financial planning and expert assistance, you can create a roadmap for expansion and growth within your industry. While managing small business finances may seem daunting, following the right steps can make the process both enjoyable and highly profitable.
As a small business owner, keeping a close eye on expenses is essential, and that includes accounting costs. You might wonder if your accountant’s fees are worth it or if you could handle it yourself using online accounting software.
ALL POSTS
NEWSLETTER SUBSCRIPTION