Posted on December 17th, 2013 by Colin Wong Areinz (Waitakere Real Estate Mreinz REAA 2008)
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. […]
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Posted on December 16th, 2013 by Colin Wong Areinz (Waitakere Real Estate Mreinz REAA 2008)
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 […]
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Posted on December 9th, 2013 by Colin Wong Areinz (Waitakere Real Estate Mreinz REAA 2008)
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 […]
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Posted on December 6th, 2013 by Colin Wong Areinz (Waitakere Real Estate Mreinz REAA 2008)
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 […]
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Posted on November 28th, 2013 by Colin Wong Areinz (Waitakere Real Estate Mreinz REAA 2008)
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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Posted on November 28th, 2013 by Colin Wong Areinz (Waitakere Real Estate Mreinz REAA 2008)
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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Posted on November 21st, 2013 by Colin Wong Areinz (Waitakere Real Estate Mreinz REAA 2008)
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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Posted on November 18th, 2013 by Colin Wong Areinz (Waitakere Real Estate Mreinz REAA 2008)
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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Posted on November 18th, 2013 by Colin Wong Areinz (Waitakere Real Estate Mreinz REAA 2008)
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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Posted on November 15th, 2013 by Colin Wong Areinz (Waitakere Real Estate Mreinz REAA 2008)
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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