The Reserve Bank has cut the Official Cash Rate (OCR) by 50 basis points to 2.5 percent.
Several economists and market commentators had anticipated a drop of 50 basis points, while others predicted a smaller 25-point cut.
Falling house prices, cautious buyer sentiment, and recent policy changes are reshaping the property landscape — creating both opportunities and challenges for first-home buyers and seasoned investors.
Nathan Miglani from Squirrel Mortgages described the development as a “golden period” for first-home buyers, encouraging them to “seriously think about buying their first home as soon as possible.”
“My advice is to get all your ducks in a row because property investors are coming to the market aggressively,” Miglani said.
He noted that many investors who had been holding off for the past four years are now preparing to buy properties again.
“For those investing in properties, proper advice is crucial during
“The purpose of investment properties is to become mortgage-free, so it is crucial for investors to seek advice to understand the structure of banks and the purpose of investment,” Miglani explained.
Calling it a “great opportunity,” he said there is now strong competition in the market.
Last month, Miglani said that after years of subdued activity, New Zealand’s property market is showing signs of revival, with investors returning as interest rates decline and cash flow improves.