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Some relief for home buyers

There seems to be some relief for home buyers happening at the moment.

The latest average house prices for New Zealand are down from $310,000 in December to $302,500 in January . This combined with low interest rates is increasing affordability for New Zealanders.

The big news in interest rates for the last week is that HSBC have announced a 18 month fixed interest rate of 3.95% for its premier customers (lending of $500,000 and investment with them of $100,000 or more). This is the lowest interest since the 3% State Advance loans of the 50s and the early 60s.

Let's hope other banks jump on the bandwagon.

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