Posted on August 24th, 2012 by Colin Wong Areinz (Waitakere Real Estate Mreinz REAA 2008)
The New Zealand economy is performing well compared to Europe, which is mired in a deepening recession and there is nothing on the horizon to change that picture. Economic activity indicators are equal in importance to political developments in August as the former adds pressure to the latter. With economic activity slowing globally, this trend […]
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Posted on August 20th, 2012 by Colin Wong Areinz (Waitakere Real Estate Mreinz REAA 2008)
It’s now much harder for single people on high incomes and middle-income couples to buy homes than it was ten years ago. A study by the Productivity Commission and Treasury shows that by the end of the last property boom, only 31% of those who did not own a house could afford to, compared to […]
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Posted on August 15th, 2012 by Colin Wong Areinz (Waitakere Real Estate Mreinz REAA 2008)
I have met many young couples and investors who are waiting for the market conditions to improve. Interest rates have never been more affordable and the potential for capital gain is still evident in the price comparisons from 2003. Medium House Prices 2003 2012 Auckland $289,000 $500,000 Waikato/ BOP $176,000 $319,000 Manawatu/ Wanganui $107,000 $226,050 […]
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Posted on August 15th, 2012 by Colin Wong Areinz (Waitakere Real Estate Mreinz REAA 2008)
Sales are up once again for June, 17.3% year on year (REINZ), with record median prices of $372,000 up $3,000, a new record high with Auckland reaching $500,000 record median prices in June. The prices for June have increased across the country, not just in the previously reported regions of Auckland and Christchurch. Central Otago […]
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Posted on July 23rd, 2012 by Colin Wong Areinz (Waitakere Real Estate Mreinz REAA 2008)
Many banking economists believe that the RBNZ will leave the OCR unchanged for an extended period. Borrowers continue to have time on their side, with interest rates expected to stay lower for longer. A recommended strategy is to cover risk by placing some funding with banks on fixed terms and leaving the flexibility of floating […]
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Posted on July 16th, 2012 by Colin Wong Areinz (Waitakere Real Estate Mreinz REAA 2008)
With no details yet emerging from the EU summit, markets remain wary. With Greece in its fifth year of recession and the unemployment rate at 23%, Greece has asked for some modifications to the austerity program. Elsewhere, EU leaders are focused on immediate help for Spain and Italy, which will help chart a path out […]
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Posted on July 14th, 2012 by Colin Wong Areinz (Waitakere Real Estate Mreinz REAA 2008)
What is the impact of migration on the housing market? At the moment, migration is a drag on the normal state of affairs because the net flow in the year to May was a loss of 3,653 and because the average flow over the past ten years has been a gain of 15,000 p.a. However, […]
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Posted on July 10th, 2012 by Colin Wong Areinz (Waitakere Real Estate Mreinz REAA 2008)
As many Baby Boomers are considering their options for retirement (and whether they have sufficient funding to protect and maintain their life style) they find themselves in exactly the same position as the previous generation, i.e. those approaching or already in retirement in the early 1990s. Back then, inflation fell from an average of 11% […]
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Posted on July 6th, 2012 by Colin Wong Areinz (Waitakere Real Estate Mreinz REAA 2008)
The rental property shortage is heading to a crisis. It continues to be a National trend which is fuelled by lack of construction of new homes and investment by developers. The cost of new builds and the costs of consents (due to stringent council requirements because of the leaky home issue) are also contributing to […]
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Posted on July 4th, 2012 by Colin Wong Areinz (Waitakere Real Estate Mreinz REAA 2008)
It is the sellers who hold the power as the market returns. For the first time in more than four years, the June BNZ-REINZ Residential Market Survey provides solid evidence that conditions are shifting more towards being a sellers’ market. A recorded net of 15% of those responding claim that buyers are now more motivated […]
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