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The upcoming period of stability is an excellent time for first-time home buyers to make informed decisions on a home purchase.
While the Reserve Bank of New Zealand might have raised interest rates again recently, experts believe we’re nearing the end of a long period of mortgage rate hikes. The property market is tipped to rebound over the next year as interest rates fall, making now a great time for first-home buyers to get into the market.
After the house price falls of the past 12–18 months, the New Zealand real estate market is well-placed to bounce back between now and the end of 2024. With confidence growing and a period of stability increasingly likely, the next year is poised to present some amazing opportunities for first-time buyers.
Interest rates look close to their peak, and the upcoming period of stability is an excellent time for home buyers to make informed decisions on a home purchase. When interest rates fall, house prices tend to rise, so it’s vital that buyers are ready to make their dream move.
With the real estate market nearing the bottom, house and land packages look an increasingly attractive option for homebuyers. Mortgage rates are expected to stay at current levels or fall over the next 18 months, and calculating mortgage payments is likely to become more predictable as the economy stabilises.
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The Paerata Rise community has visionary plans for a vibrant planned township, offering a range of different housing options at competitive prices.
As it becomes easier to plan for the future, more New Zealanders are looking at the best options for their next move. High-quality new homes built to the best modern standards in new developments are increasingly attractive.
Paerata Rise in Franklin is one such community, offering the Kiwi dream of affordable, beautiful new homes. The progressive lifestyle community has visionary plans for a vibrant planned township, offering a range of different housing options at competitive prices.
Developed by Wesley College Trust and Grafton Downs, a charitable company within the Methodist Church of New Zealand, Paerata Rise is a social enterprise as well as a quality modern housing project.
All profits from development will be vested back into the community, supporting its future growth. Built on these philanthropic foundations, the project has a long-term vision to create 4,500 new family homes by 2035 in partnership with top New Zealand builders.
Nestled into the landscape and natural beauty of the local region, the major new development will offer New Zealanders a foot on the property ladder in a coveted location, close to Paerata Rise railway station and five minutes drive from Pukekohe town centre. The project’s developers will offer a range of freestanding houses, two-storey houses and duplexes across the new community.
Paerata Rise is about more than just beautiful homes – the 300ha project will retain the charm of Franklin’s open spaces and rolling hills, with 5ha devoted to public green spaces, including walkways, cycleways, picnic areas and sporting areas.
The development will have the look and feel of an established country village with all of the benefits of a modern urban environment. With local amenities including schools, trails, playgrounds and shops close by, the community will become the ultimate destination for New Zealanders to live, work and play.
Visit Paerata Rise at paeratarise.co.nz or come for an in-person visit at 16 Jonah Lomu Drive for a free personalised information session about Paerata Rise and the community.
Bring this Stuff article with you and enjoy a coffee on us while we talk about your prospective new community, “Paerata Rise, feels like home”.