Westpac report says the good times in the residential property market will "end very soon".
The housing market is facing a looming slowdown, according to Westpac's chief economist Dominick Stephens.
In a Home Truths Report on the housing market Stephens said although the market was positive for now, it will soon slow.
"In our view the good times for the market are going to end very soon," he said.
"We are forecasting a small decline in house prices in the second half of 2018.
The report pointed to six factors that would likely cause a market slowdown:
- Foreign buyers will be banned from buying existing residential properties, probably by the middle of this year.
- Ring fencing tax losses on residential investment properties, which means investors won't be able to offset any tax losses from a property against other income.
- The Tax Working Group will probably recommend a Capital Gains Tax, although the family home will likely be exempted.
- Mortgage rates are more likely to rise than fall
- Net migration is expected to keep slowing while home construction will keep rising.
"This is a prodigious set of negative factors, but for a few reasons we are forecasting only a slight house price decline, rather than anything dramatic," the report said.
Poll: Should drivers retake the theory test every 10 years?
Drivers get where they need to go, but sometimes it seems that we are all abiding by different road rules (for example, the varying ways drivers indicate around a roundabout).
Do you think drivers should be required to take a quick driving theory test every 10 years?
Vote in the poll and share any road rules that you've seen bent! 😱
-
49.7% Yes
-
48.4% No
-
1.9% Other - I'll share below
Tai Chi October - December 2024
Hi, I'm Andrew Hardwick, Tai Chi Instructor and member of NZ National Tai Chi Chuan Association Incorporated (NZNTCCA). The name of my wellness-focussed Tai Chi class is Not Strictly Tai Chi. The quirky name is a humorous twist on the name of shows like "Strictly Come Dancing", and from the fact that (a) I'm not strict and (b) If I see an exercise I think would provide a health benefit to my Tai Chi students, I will add it to my class offerings.
My Upper Hutt venue is Te Kupenga o Rongomai - Maidstone Sports Hub. Classes are in school term times only, and are open to all ages.
So far in 2024 we've had ages ranging from Mums attending while their kids are at school, through to retired people looking for healthy exercise.
No experience necessary. Experienced and beginners equally welcome
School Term 4 classes will be on the following dates
Wednesday evenings, from 7pm - 8pm
October 16th
October 23rd
October 30th
November 6th
November 13th
November 20th
November 27th
December 4th
December 11th
December 18th
Thursday mornings, from 10am - 11am
October 17th
October 24th
October 31st
November 7th
November 14th
November 21st
November 28th
December 5th
December 12th
December 19th
Enquiries welcome on 021 153 2508
Andrew Hardwick - Tai Chi Instructor
Here's Thursday's thinker!
I am lighter than air, but a hundred people cannot lift me. What am I?
Do you think you know the answer to our daily riddle? Don't spoil it for your neighbours! Simply 'Like' this post and we'll post the answer in the comments below at 2pm.
Want to stop seeing riddles in your newsfeed?
Head here and hover on the Following button on the top right of the page (and it will show Unfollow) and then click it. If it is giving you the option to Follow, then you've successfully unfollowed the Riddles page.
Loading…
