House prices for the past 2 years have been more or less stable, so buying and selling is now a lot more predictable.
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True story… Paul wandered onto a car yard and was just casually looking around when a salesperson came up to him and said “Tell me”, if price wasn’t an issue, what you buy here?” Paul glanced around spying what looked to be a relatively new, red BMW Z4 and pointed to it saying, “The Beemer […]
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Prices are edging up, but only very slowly. The price trends over the last 10 years (1999 to 2009) and the average price of $168,000 in October 1999 has risen to the mid $300,000s, where it has hovered for a few years now.
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Rental demand has increased over the past three months with both vacancy rates and rent drops decreasing. First National Group’s quarterly property management survey of its network offices across NZ shows vacancy rates have decreased from an average of 6.3% to 4.9% in the past three months. First National Group General Manager John Stewart said […]
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All logical, statistical and equity arguments say YES, but political desire to stay in power says NO. Since property investment should be viewed as long term (10 years plus) then even with a cap gains tax, rents would increase to compensate, so just as in other countries, it is still viable to invest albeit with […]
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You will often hear how you should buy in “up and coming” areas. But what does this mean? Well there is a test for this. English firm Virgin One created the “Cappuccino Test” for an area, based on interviews with over 1,100 buyers and real estate agents. The test showed up trends or signs to […]
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Remember that if the value of your house rises, so will the value of the one you want to buy. It’s worth noting that if you sell now for $400,000 and buy for $500,000, that’s a $100,000 shortfall to fund. If prices rise say 20%, then you sell for $480,000 but buy for $600,000, the […]
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It’s a fascinating fact that you go house shopping by initially looking and judging the outside of homes, but once you are in it, you live on the inside and more or less ignore the outside.
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The median house price for all of NZ from September 06 to August 09. In these three years prices have risen and fallen by small amounts as you can see, hovering around $330,000 to $340,000. The bottom line is that prices are very stable right now.
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Typical six month and one year rates are around 5.6% with 5 year rates at 8.6%. At 3% higher, this shows that the lenders expect a rise in mortgage rates over the next few years. But it’s not all bad news. These high rates are there partly because lenders have become very competitive, all trying […]
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