NATIONAL ASKING PRICE- HITS NEW RECORD HIGH

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 […]

FEELING THE CHILL- FIRST HOME BUYERS

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 […]

WHY WE RECOMMEND A PROPERTY MANAGER

What do they do for you? A rental appraisal which covers potential rent, recommend changes when required Initial inspection and photos of your property documented and detailed notes Arrange tenancy insurance, connections or other services if required Organise the marketing of your property Field all calls from potential tenants, show tenants the property, take applications […]

LVR RULE CHANGE – OCTOBER

The banks will be restricted to having no more than 10% of the value of their new home mortgages lending at loan to value ratios above 80%. The question has been whether this will have the desired effect of slowing the rising house prices. The LVR will definitely slow down first home buyers and investors […]

RESIDENTIAL REAL ESTATE SALES REPORT FOR JULY

Confirmed house sales price lifts, are reported to have eased. Median prices in Otago; Auckland and Canterbury have lessened. The median fell back $9,000 compared to June to $385,000. However, house sales have surged through July to achieve a six year high for the month of REINZ data for the real estate market in New […]

FACTORS DRIVING HOUSE PRICES

REINZ HOUSE SALES: NEUTRAL Housing turnover has slowed but that should not necessarily be taken as a sign that house prices may follow. The likely cause is a listings shortage. INTEREST RATES: UP Interest rates have started to move up but are still low. OCR: UP Still on hold, the OCR is unlinkely to move […]

New Zealand News Week

News of the week has clearly been Fonterra’s dirty pipe in processing their whey back in May last year and the global fall out from this recall. The on flowing damage to New Zealand’s “clean and green” image is clear, and will take some time for us to regain confidence in the market. Further news […]

Gap Widens between Auckland and Regional New Zealand Property Prices

The NZ Herald (Monday 4th June) printed significant data and statistics which reveals that Auckland property boom is causing a widening gap from the rest of the country. They go on to state that many provincial towns have not fully recovered from the national housing boom in 2007, before the global financial crisis hit. This […]

Never a better time to sell

Don’t wait for spring, because you will be competing with many other sellers who are also waiting to bring their property onto the market. List your property ‘now’ when the stock of unsold homes on the market tightened to an all-time low of 25 weeks, based on the rate of sales, well down on the […]

Offshore

In Australia the whole mood is one of woe is us. Informed commentators are writing articles about appalling fiscal mismanagement involving continually soaring spending and overly optimistic assumptions about revenue, poor productivity growth previously covered by the boom but now revealed as a major structural weakness, and chooks coming home to roost for a protected […]

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