In this week’s Overview we take a look at the main factors which determine the level of activity in the residential real estate market. This will be highly relevant to folk like real estate agents, mortgage brokers, bankers, conveyancing lawyers and moving companies.
On interest rates there is nothing new to say this week with the Reserve Bank delivering no surprises to ourselves this morning when it left the cash rate unchanged at 1.75%. The currency meantime continues to have good support on the back of the strong NZ economy, anticipation of a tightening of monetary policy next year, and worries about what is happening in many other economies and societies. But because this morning’s comments from the Reserve Bank were slightly more dovish than others had thought the NZD has retreated from over US 73 cents back to 72.0.