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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This comment is from Westpac’s chief economist Brendan O’Donovan Building new houses is going to be the result of there not being enough existing housing for sale to meet the huge demand. Net permanent/long term migration to New Zealand rose to a five year high in the year to August 2009 as departures from New […]
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