REAA Handles Complaints about Agents

Since the REAA was formed in November 2009, close to 3000 complaints have been lodged against agents. The REAA regulates Real Estate agents, branch managers and salespeople, under the REAA Act 2008. Incompetency, negligence and misleading behaviour make up the highest number of complaints followed by failing to disclose information and trading without a license. […]

Quality is Sought After by First Home Buyers.

Lower priced properties are being targeted by investors not first home buyer, who are prepared to spend a little more for a quality, but a modest home. The investor is more prepared for a property that has maintenance issues and may only need a little spent on it to make it presentable for the rental […]

Less Homes Selling at Auction as LVR Bites

New LVR rule cools the market with just a third of 150 home sold over a 3 day period via Auction, when 80% were selling just 2 months ago. The new LVR rules mean less first home buyers and vendors high expectations has meant more homes on the market. Only 36% sold with the other […]

Reality of Market burst Bubble of Housing Policy.

Annual REINZ figures show inflation of house prices are 10% nationally and in Auckland they are 16%. The Reserve Bank’s LVR is not achieving what they want, first home buyers have simply left the market, making way for property investors. Banks had less high LVR lending, but there was no evidence of it slowing house […]

FACTORS DRIVING HOUSE PRICES

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 […]

NZ POPULATION INCREASES.

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 […]

HOUSING MARKET UPDATE (REALESTATE.CO.NZ)

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 […]

LABOUR MARKET NEWS

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 […]

If I WERE A BORROWER, WHAT WOULD I DO? Tony Alexander (BNZ)

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 […]

A DECLINE AS LOAN-TO-VALUE RATIO (LVR) RESTRICTIONS IMPACT THE FIRST HOME BUYER MARKET

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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