Thread: Other families/house prices Manawatu
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Old 06-06-2008, 02:10 PM
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Taffy Taffy is offline
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Hi,

Mortgages are usually 3 - 4 times your combined salary, although at the moment some institues are lending more due to high house prices. $150,000 isnt an unobtainable mortgage, but most lenders would want a deposit of somewhere from 5 - 20% of total value.

I don't think anywhere is easy to get on the housing ladder at the moment, if your income is low to moderate. I did hear on the news today that some respected agency is predicting a drop in house prices of up to 22% by this time next year, so that could be worth waiting for!
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