TL;DR: Agents and brokers say rental property investors have surged back into the market in the days since National’s election win, confident of more advantageous tax rules and hopeful interest rates won’t rise because of lower inflation and less Government borrowing.
That means higher house prices for longer, although interest rates may stay high for longer as global investors get nervous about funding US deficit spending for electrificaiton subsidies and as many as two wars.
Elsewhere in the news today:
Caretaker PM Chris Hipkins says he has plenty of fight left in him and he’ll stay on as Labour Leader, at least until a caucus leadership vote due within 90 days of the special vote count due on November 3;
Former Labour Leader and current list MP Andrew Little is retiring from politics to go back into lawyering, allowing the next list candidate into Parliament; and,
US long-term interest rates jumped back to near 16-year highs overnight after stronger-than-forecast US retail sales and on concerns the US Government is gearing up to pay for wars in Ukraine and the Middle East with borrowed money.
Paying subscribers can see more detail below the paywall fold and hear more of my analysis in the podcast above.
‘Right, National won, so let’s go and buy something.’
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