Otago Property Investors Association Inc
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Reserve Bank Governor Graeme Wheeler has confirmed he expects to raise the benchmark interest rate to about 4.5 percent in the next two years to curb inflation.
There’s a mixed outlook for the property market, if ANZ’s latest Property Focus is anything to go by. The bank’s economists have issued their monthly Property Focus, reporting pressure from both directions on house prices.
A new system designed to cut the time it takes to resolve tenancy disputes will only be available to big property management firms and Housing New Zealand at first. Housing Minister Nick Smith has revealed details of the new “Fasttrack” process for the Tenancy Tribunal.
Statement issued by Reserve Bank Governor Graeme Wheeler
New Zealand landlords are becoming more likely to leave their property management in the hands of the professionals, one industry participant says. David Faulkner, of Property Brokers, said a comparison of listing websites TradeMe and Realestate.co.nz showed that up to half of all rental properties were now being looked after by a manager, rather than a DIY owner.
Economists aren’t expecting an increase in the official cash rate this week but it’s not can impossibility, a new survey has shown. The latest CPI data, which showed much stronger inflation than expected, had prompted some to question whether the Reserve Bank might move sooner rather than later on the rate.
Many landlords are choosing to sell their properties because of bad experiences with tenants, says the president of the New Zealand Property Investors Federation.
Loan-to-value restrictions have the potential to affect the lifestyle property market but there is no sign of them doing so yet, the Real Estate Institute’s rural spokesman says.
There is no way of knowing how long loan-to-value restrictions might affect the housing market throughout this year, BNZ chief economist Tony Alexander says. He said house prices would continue to rise as the imbalance between demand and supply at current prices showed no sign of letting up.
There has been a clear move towards owner-occupied apartments in Auckland, says Martin Dunn, of City Sales. The apartment-specialist real estate agency has been operating for 16 years. Dunn said its apartment sales had traditionally been split at 30% to owner-occupiers and 70% to investors. But in October, November, December, that had changed to 37%, 48% and 44% owner-occupiers, respectively.
Banks are willing to turn a blind eye to borrowers who use personal loans from other lenders to pull together their deposits, says Harcourts chief executive Hayden Duncan.
Demographia's latest survey of housing affordability paints a depressing picture for New Zealand. But is it as bad as Deographia make it out to be?
Andrew King was interviewed on RadioLive Monday 20th January regarding a house in Auckland which had been trashed by tenants
Criteria used to describe New Zealand’s housing as unaffordable are too simplistic and do not take into account the cost of borrowing, the New Zealand Property Investors Federation says. The Demographia survey compares housing costs in nine countries.
Sales numbers are falling, especially in the cheaper price brackets, the latest data from the Real Estate Institute shows. In December, there were 5688 residential sales, down 1.1% on the same time in 2012 and a drop of 18.3% compared to November.
Aucklanders spend significantly more of their incomes on housing than people in any other part of the country, Crockers research shows.
Over the month, there have been some noteworthy policy and regulatory developments potentially affecting New Zealand’s housing/rental property landscape. In this report, we outline these recent developments and flag other changes or developments that can be expected over the coming months.
It is the start of a new year and you may well be on your break from work commitments as you read this. With a bit more time on your hands and hopefully in a rested and less stressed environment, this is a wonderful opportunity to think about the higher aspects of your investments. Just why are you investing in property and are you on track to meet your goals?
Wellington is probably the best place in New Zealand to be a landlord at present, Trade Me says. It has released its analysis of the final quarter of last year. Christchurch again reported strong growth in listings and Auckland’s were stable but Wellington showed a sharp decline.
The first sign of the impact of loan-to-value restrictions has been a drop in the number of listings, Quotable Value says.
Northland baches were the most popular rentals over the Christmas and New Year period, figures from Bookabach show.
Things are looking up for borrowers with small deposits, as mainstream banks indicate they are getting back into the market.
The number of properties being listed for sale dropped dramatically in December, the latest report from realestate.co.nz shows.
Houses in the cheapest price brackets were not sold as frequently as more expensive homes in December, continuing a trend spotted in November.
A two-tier interest rate system, with higher rates for investors, would be a better option than loan-to-value restrictions, one commentator says.
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