Our Manawatu economy is in good heart with GDP above the national rate, migration to the Manawatu is still growing, job numbers have increased, wages increased significantly last year, and unemployment is low, Manawatu retail is strong, and construction is strong.
The Reserve Bank has eased the loan to value ratios (LVR’s) making it a little easier to borrow for housing, and while our values have risen significantly in the last two and a half years, we remain one of the most affordable parts of New Zealand to buy a home. Interest rates are likely to stay low. We have a relaxed and easy lifestyle that is the envy of many suffering in the big city rat race. Less people are leaving the Manawatu.
My prediction is for a strong year for the Feilding and Manawatu property market in 2018, because we are experiencing business growth and population growth. Demand will fuel the market, and we are still playing “catch up” with a large part of New Zealand.