A big jump in the lower quartile selling price of homes in south Auckland over the last two months more than wiped out the benefits of falling mortgage interest rates for first home buyer households, according to the interest.co.nzHome Loan Affordability Report for July.The report shows that the REINZ's lower quartile selling price of homes in the Auckland region has dropped from $616,500 in May to $602,000 in July, and that combined with recent falls in interest rates has improved affordability for first home buyers in most parts of the region.
Between May and July the average...
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