REINZ House Sales – Up: Sales lifted 2.6% in September after a 3.3% drop in August Interest Rates – Up: Short term rates are cheap but anything longer than 3 years is becoming more expensive. OCR – Up: No sign of a OCR increase yet. It’s widely predicted for March 2014. Immigration – Up: The […]
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NZ population has grown by 5.3% to 4,242,048 according to the NZ Statistics. Some regions had surprising gains while others reduced. Auckland is the fastest growing region with a population in 2012 of 1,425,550, an increase of 110,592, since the last census in 2006. Nelson took out second fastes growing region with a 8.35 increase […]
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Business and consumer confidence is driving heightened activity this spring, which is already out performing previous years figures. October saw a significant rise with 14 new property listings. This is a 27% increase from the previous month (September). And an increase of 8% compared to October last year. The Central North Island recorded the biggest […]
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Unemployment dropped to 6.2% in the last quarter from 6.4%. Part of the drop could be attributed to more people reporting they are actively job hunting. The number of jobs rose by 1.2% during September, which is an increase of 2.4% for the year. The job increases support evidence of renewed business confidence. Predictions are […]
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The Reserve Bank met expectations last week when they left the cash rate unchanged at 2.5%. The RB won’t now tighten monetary policy until mid-2014 rather than early in the year. So we have shifted our forecast timing for the first OCR increase to June from March. Then cahnge highlights the key point that predicting […]
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Loan to value limits were introduced at the beginning of October by the Reserve Bank. All banks must now lend no more than 10% of their new home loans to people with deposits of less than 20%. First national’s survey was released to the media on Friday, October 8. This reserch was commissioned by First […]
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The National asking price hits a new high of $466,526; this is driven by the seller’s confidence. The market still favours the sellers in most regions of New Zealand. Marlborough recorded an 18% increase; Canterbury up 3.2% increases compared to the prior months asking prices. (Realestate.co.nz) Record high asking prices were across 14 regions, Waikato […]
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The banks are moving to limit lending to people with less than 10% and have the ability to limit their risk to borrowers with 20% and above deposit. The Reserve Bank’s limit on LVR (high–loan–to-value) lending has affected some purchasers in the bigger cities, (some real estate agents are reporting), where 20% deposits are very […]
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