- CCCFA Changes: The government is implementing changes to the Credit Contracts and Consumer Finance Act (CCCFA) to simplify lending processes and enhance consumer protections. Proposed reforms include simplifying home loan applications, improving dispute resolution, and transferring oversight responsibilities to the Financial Markets Authority.
- Tony Alexander Monthly Survey Insights: Recent trends in the New Zealand residential real estate market indicate ongoing buyer interest but with a cautious approach. Banks are gradually relaxing lending criteria, with a preference among borrowers for short-term fixed interest rates. Positive shifts include increased lending support for first-home buyers and rising refinancing activity due to cost-of-living pressures. Market participants are adapting to economic challenges, with projections suggesting another year before significant recovery.
- REINZ’s New Zealand Property Report - March 2024: The March 2024 figures show the market is more active compared to a year ago, with high listings numbers, increased stock levels, higher sales counts, and higher median sale prices.
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