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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The Reserve Bank has left the Official Cash Rate (OCR) on hold at 2.5%. The decision to leave the OCR on hold was in line with market expectations. The Reserve Bank has indicated that if the New Zealand dollar remains elevated without other economic settings changing, then it would need to reassess its previous assumptions […]
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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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Check out this new listing: http://www.nz.open2view.com/properties/267398
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