Most mortgage rates are lower this month compared to last month, with only the floating and six month rate unchanged. With some mortgage rates on offer now at levels not seen in 50 years, there is clearly some value to be had in fixing for short terms such as one year. We do not expect […]
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The group of eight leaders in the United States over the past week have not produced anything positive in relation to the European debt crisis. The debate persists. Greece continues to spend other people’s money with no commitment to repayment. The continued inability of austerity measures being implemented will only prolong the inevitable within Greece’s […]
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Investors and home owners remember the Reserve Bank (2004 -2007) moving the official cash rate from 4.5% to 8.25% however this is unlikely to be repeated. Most economic forecasters see the OCR remaining constant through the year and interest rates remaining low while the near future looks to deliver low inflation.
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Investors are now doing simple maths when comparing term deposits and the equity market, the chances of a share market decline and another mini crash being highly probable with the events in Europe and globally. House prices are now rising. People are comparing the cost of borrowing with possible capital gain and the scope of […]
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It is now clear that the property market is more buoyant. We have evidence of a flood of young buyers entering the market, investors re-entering the property market and prices are rising. Those purchasers hoping to hang out for prices to fall have thrown in the towel and faced the growing evidence that the property […]
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Confidence is returning to the housing market. The recent REINZ release of the March residential statistics shows a 25 per cent increase in the volume of sales, and a reduction in the number of days between listing to contract date. Buyers are viewed to be more strongly motivated than sellers in all parts of Auckland […]
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The recession in Spain and projections of rising unemployment in the Eurozone is resulting in wide spread marches involving thousands of protesters in 55 cities. Spain is the next country looking to require a bail out with a large fiscal deficit (8.5% GDP). France and Greece are facing elections which may prove to be an […]
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New home buyers are entering the housing market, with the continued low interest rates currently available on bank loans; and (some) banks reducing the deposit levels required. A lack of rentals, particularly in Auckland, is also fuelling the return of First Home Buyers – those not wanting to continue tolerating the escalating rents. First National […]
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Auctions are becoming the preferred means of selling homes in many parts of the Auckland region. During the past month, more than three out of four transactions in some suburbs, were being decided by the auctioneer’s cry of “Sold to…”. In total, REINZ data shows almost 30% of sales in the region during March were […]
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As in the current positive real estate market, it is often difficult to determine accurate pricing. This is partly because recent sales of comparable properties may not be the best indicator of what buyers are prepared to pay. Throughout New Zealand, multiple offers being presented on many properties is causing price increases. Some regions are […]
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