Posted on November 4th, 2014 by Colin Wong Areinz (Waitakere Real Estate Mreinz REAA 2008)
Home ownership, once an integral part of the Kiwi dream, is one of the hottest topics right now. Limited property listings, relatively low interest rates and a burgeoning population are among the factors driving the bullish market and record high prices, particularly in Auckland. Marry this with what’s been one of the this country’s most […]
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Posted on October 29th, 2014 by Colin Wong Areinz (Waitakere Real Estate Mreinz REAA 2008)
The election has been and gone, we know the result, and it is business as usual with a pro-business Government rather than a ragtag of tax raising parties. Does this matter for the housing market? No capital gains tax is a positive, and the outright majority to National increases the chances of more red tape […]
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Posted on October 16th, 2014 by Colin Wong Areinz (Waitakere Real Estate Mreinz REAA 2008)
A SPRING BOUNCE in the property market may have been delayed this year but it hasn’t been eliminated entirely. That’s the message from commentators who say, despite a marked reduction in turnover in August, better times are likely just around the corner. Real Estate Institute statistics (REINZ) showed 5481 homes were sold in August, down […]
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Posted on September 15th, 2014 by Colin Wong Areinz (Waitakere Real Estate Mreinz REAA 2008)
The Real Estate Institute of New Zealand (REINZ) statistics show that the 5893 homes sold in July was up 2.3% on June this year but down 13% on July last year. The National median price was $416,000 for the month, down $11,250, or 2.6% on June but up $31,000 on July 2013. Chief Executive Officer, […]
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Posted on August 25th, 2014 by Colin Wong Areinz (Waitakere Real Estate Mreinz REAA 2008)
* REINZ House Sales – Down: There were 5763 sales in June,down 6.3% on June 2013 and more than 12% down on May. . * Interest Rates – Up: Fixed mortgage rates have risen sharply over the past few weeks.. * OCR – Down: The OCR is set to increase over coming years. * Immigration […]
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Posted on August 20th, 2014 by Colin Wong Areinz (Waitakere Real Estate Mreinz REAA 2008)
It is a question that I have often heard asked, as well as being a regular explanation made when laying the blame for a period of quieter sales leading up to the general election. Using REINZ property sales statistics covering a total of 7 general elections held over the past 22 years, I found on […]
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Posted on August 15th, 2014 by Colin Wong Areinz (Waitakere Real Estate Mreinz REAA 2008)
Wholesale interest rates have not changed much in the past week but competition between banks for home lending appears to have strengthened. By all means take into account the cash bonuses which lenders may offer if you sign up. But stay focused mainly on the interest rates being offered. I personally would remain willing to […]
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Posted on July 22nd, 2014 by Colin Wong Areinz (Waitakere Real Estate Mreinz REAA 2008)
One of the benefits of KiwiSaver is anyone saving to buy their first home can dip into their KiwiSaver funds to boost their deposit. If you’ve been in KiwiSaver for several years, as you have, there might be a tidy little sum to help you get into your own home more quickly, even after a […]
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Posted on July 21st, 2014 by Colin Wong Areinz (Waitakere Real Estate Mreinz REAA 2008)
Statistics New Zealand state that the median weekly total income for households in 2013 was $1,358 (based upon 1.458 million households). As such we can determine that mortgage repayments need to be below $407.40 per week in order to be classified as affordable. So what does $407.40 per week get you? Westpac’s calculator suggests that […]
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Posted on June 27th, 2014 by Colin Wong Areinz (Waitakere Real Estate Mreinz REAA 2008)
* REINZ House Sales – Down: Sales in February were down 20.2%on the same time a year ago. * Interest Rates –Down: Interest rates are increasing especially for longer fixed terms. * OCR – Down: It’s been suggested the Reserve Bank may slow the rate of those increases because of the effectiveness of the LVR […]
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