TALK TO US

0800 539 346

cart Shopping Cart    You have 0 items   

What's Hot

Email me when new posts are made to this blog

A very Merry Christmas and a Prosperous New Year

Written by Stuart Hawes on December 16th, 2015.      34 comments

From the Team at Real Mortgages 

We will be open all over the holidays to help you with your dream home 

Please call     Michael    021 676321  or
                      Stuart       021808880


“Auckland Cooling as Summer Arrives” 

 
Finally, after years of double-digit price increases, Auckland's house price inflation began to cool through October and November and is expected to remain cool through the summer, unlike much of the rest of the country.
 
The twin-pronged attack on Auckland announced by the Reserve Bank and Government in May took more than six months to take effect, but the first statistical evidence emerged in early December of a slowdown in housing market activity.
 
Auckland house sales fell 13% in November in seasonally adjusted terms after a 17% fall in October, while prices fell 1.4% in November after a 4.4% fall in October, REINZ figures showed. The Government's introduction of a two year 'bright line' test for taxing the capital gains of speculators from October 1 and the Reserve Bank's introduction of tougher borrowing limits for Auckland rental property investors from November 1 had the desired effect.
 
Real estate agents also cited tougher capital controls in China after a currency slump there in August and the destabilizing effects of new IRD reporting rules on non-residents as factors in the slowdown in activity and a drop in auction clearance rates from over 80% to under 50%.
 
But the warmth is still radiating in housing markets outside of Auckland, in part due to the new Reserve Bank measures that took effect in November. The restriction on loaning more than 70% of a property's value to Auckland rental property investors encouraged many to look further afield and leverage up their Auckland gains in other cities. The Reserve Bank's less-publicised decision to loosen its 'speed limit' on high LVR borrowing outside of Auckland to 15% from 10% has perked up activity in the likes of Hamilton, Tauranga, Wellington and Dunedin.
 
But the jury is still out on whether Auckland's slowdown in house sales and the apparent plateauing of prices will last deep into 2016. The Reserve Bank has said it wants to wait until seeing the figures for February before making a judgement, and many real estate agents and solicitors are saying it's too early to say if the cooling will extend beyond the summer. They say overseas buyers will adjust their arrangements to comply with the new reporting rules and they also point out the new housing supply being built in Auckland is still less than two thirds of that needed to match new migration.
 
Over 120 new migrants arrived in Auckland every day in the second half of 2015, while new houses were only being built to house around 80 a day, and that's before reducing the existing shortfall of 25,000 houses.
 
Meanwhile, interest rates remain low and big bank advertised rates could fall below 4% early next year if the Reserve Bank is forced to cut the Official Cash Rate again. The Reserve Bank forecast in its December 10 Monetary Policy Statement the OCR would stay at 2.5% until at least the end of 2018, which is extraordinary when you consider that would mean it has been there for almost all of a decade since it was cut to that level in June 2009.
 
The Reserve Bank was criticized for not forecasting lower rates, given inflation remains well below its 1-3% target band and it actually further lowered its inflation forecast track in its December 10 statement. ASB and Westpac are forecasting it will have to cut the OCR to 2% in 2016 to account for lower domestic and global inflation pressures as real GDP growth per capita remains very weak, the New Zealand dollar remains stubbornly higher than expected and oil prices have crashed to fresh nine-year lows.
 
However, the economy is not falling in a hole. Tourism spending is expected to hit record highs over the summer as new direct flights arrive from Asia and America, record numbers of cruise ships visit and the currency is substantially lower than it was through most of 2014 and early 2015. Education exports and the local services sectors also remain robust. The dairy industry remains in the doldrums, but wine, horticulture and the sheep and beef sectors are in fine fettle as demand from the Asia Pacific is solid with a more fairly valued currency.
 
The bottom line:
 
    •    Auckland's housing market cooled in October and November and is set for a subdued summer. Markets outside of Auckland are heating up as Auckland investors spread their wings and interest rates remain low.
    •    The Reserve Bank cut the Official Cash Rate to 2.5% on December 10 and expects it to remain there until 2019, although some economists expect it will be forced to cut again next year, which would drive fixed mortgage rates under 4%.
    •    The economy is growing at an annual rate of around 2%, due to strong net migration, tourism spending and construction spending in Auckland. Inflation is weak and is not expected to rise much in 2016 and 2017.
 

34 Comments

sohail khatri says ...
thanks to your recommendation, it was in truth totally helpfull..ladders for sale
sohail khatri says ...
that is my first instances i go to right here. i discovered hence many appealing stuff on your weblog specifically its outing. From the lots of feedback getting in parable to to your articles, I wager i am not the by yourself one having all the leisure right here! keep inside the works the exciting behave infervour
sohail khatri says ...
thanks for a in your liking publicize. .io games
sohail khatri says ...
thanks for the make recognized and pleasing tips..even I after that assume that tough take effect is the maximum essential thing of getting realization voyance gratuite telephone
sohail khatri says ...
high-quality Article it its in reality informative and protester save us posted thinking of totaling updates. its changed into in truth important. thank you loads. <a href="https://advertisingsolutions.co.za/web-design/e-commerce-website-design-packages/">eCommerce Website Design</a>
sohail khatri says ...
first-rate website you have here, as a end result lots cool tell!.. <a href="https://goo.gl/bgYkpS">w888 top</a>
Anna Sally says ...
I am thankful to you for sharing this plethora of useful information. I found this resource utmost beneficial for me. Thanks a lot for hard work. thankyou
asd says ...
thanks to your recommendation, it was in truth totally helpfull..Moving and Shipping Company Maryland

Anna Sally says ...
I went over this website and I believe you have a lot of wonderful information, saved to my bookmarks
voyance amour
Anna Sally says ...
Keep up the good work , I read few posts on this web site and I conceive that your blog is very interesting and has sets of fantastic information. Click Tracking

Anna Sally says ...
I wanted to thank you for this great read!! I definitely enjoying every little bit of it I have you bookmarked to check out new stuff you post.
Marketing
Steven Angelina says ...
Kudos to your place together with terrific hints.. quite possibly That i at the same time are convinced labor is certainly a very powerful aspect of becoming results. Tax Advice
charlos john says ...
Great write-up, I am a big believer in commenting on blogs to inform the blog writers know that they’ve added something worthwhile to the world wide web!.. excavator dental
Saqib 12 says ...
Nice knowledge gaining article. This post is really the best on this valuable topic. jiofi.local.html
Anna Sally says ...
Thank you very much for this useful article. I like it. smartwatches for kids
charlos john says ...
Thanks for taking the time to discuss this, I feel strongly about it and love learning more on this topic. Music
charlos john says ...
This is very interesting content! I have thoroughly enjoyed reading your points and have come to the conclusion that you are right about many of them. You are great. chase routing number washington
charlos john says ...
This is very interesting content! I have thoroughly enjoyed reading your points and have come to the conclusion that you are right about many of them. You are great. chase routing number washington
Anna Sally says ...
Thank you for taking the time to publish this information very useful! www.centrales-vapeur.fr
charlos john says ...
I got too much interesting stuff on your blog. I guess I am not the only one having all the enjoyment here! Keep up the good work. adore hair dye blue
Anna Sally says ...
Thanks for your insight for your fantastic posting. I’m exhilarated I have taken the time to see this. It is not enough; I will visit your site every day. etisalat speed test
Anna Sally says ...
This blog website is pretty cool! How was it made ! 토토사이트

Anna Sally says ...
I wanted to thank you for this great read!! I definitely enjoying every little bit of it I have you bookmarked to check out new stuff you post.
look these up
Mark says ...
Our academic pursuits, along with a range of extracurricular activities, help in honing a child's skills and ensuring that he/she grows to be a mature and responsible citizen.
top cbse school in greater noida
premium school in greater noida
selfie says ...
Our journey started as frontrunner to bring Apple technology to the Indian subcontinent. Today, SRSG has emerged as one of the leading full-service player offering an array of products and services for system integration, broadcast consultancy, IT infrastructure services, maintenance services and digital archiving services for the broadcast industry.
Apple reseller in Mumbai
ipad reseller bhubaneswar
Dejero mobile news
ipad air reseller in Ahmedabad
MacBook pro reseller in Mumbai
iMac reseller delhi

selfie says ...
Our journey started as frontrunner to bring Apple technology to the Indian subcontinent. Today, SRSG has emerged as one of the leading full-service player offering an array of products and services for system integration, broadcast consultancy, IT infrastructure services, maintenance services and digital archiving services for the broadcast industry.
newsroom automation
Apple reseller in Ahmedabad
Audio mixers dealers in india
ipad service center in Guwahati
MacBook air reseller in Mumbai
MacBook pro reseller in kolkata
saadkhatri says ...
I wanted to thank you for this great read!! I definitely enjoying every little bit of it I have you bookmarked to check out new stuff you post.
latestvalentinesdaywishes
charlos john says ...
I wanted to thank you for this great read!! I definitely enjoying every little bit of it I have you bookmarked to check out new stuff you post. Idee Aperitivo

selfie says ...
CGC Jhanjeri is one of the best colleges in the North India and we are providing the best quality of education in various courses
top 10 college in chandigarh
top 10 engineering college in punjab
Online admission cgc
top MBA college in chandigarh
BBA college in punjab
BCA college in chandigarh
ninjadeden says ...

jual baja h beam
jual pipa boiler
jual plat abrex 400
jual plat asme516 grade70
jual plat astm a285 c
jual plat astm516 70
Steven Angelina says ...
Well yes merry christams to you all and i hope that these greetings were also posted on http://thealmostdone.com/2018/05/31/how-to-write-a-persuasive-essay/ as well, that would make you guys look and seem even way better than this !
Annie Joe says ...
HOW I BECAME A VICTOR AFTER SO MANY FAILED ATTEMPT OF GETTING A LOAN.

I feel so blessed and fulfilled. I've been reluctant in applying for a loan i heard about online because everything seems too good to be true, but i was convinced & shocked when my friend at my place of work got a loan from Progresive Loan INC. & we both confirmed it and i also went ahead to apply, today am a proud owner of my company and making money for my family and a happy mom. Well i'm Annie Joe by name from Pauls Valley, Oklahoma. As a single mom with three kids it was hard to get a job that could take care of me and my kids and I had so much bills to pay and to make it worst I had bad credit so i couldn't obtain a loan from any bank. I had an ideal to start a business as an hair stylist but had no capital to start, Tried all type of banks but didn't work out until I was referred by my co-worker to a godsent lender advertising to give a loan at 2% interest rate. I sent them a mail using their official email address (progresiveloan@yahoo.com) and I got a reply immediately and my loan was approved, and I was directed to the Bank site where I withdrawed my loan directly to my account. To cut the story short am proud of my hair stylist company and promise to testify to the world how my life was transformed.. If you are in need of any kind of loan, i advise you contact Progresive Loan INC and be financially lifted Email: progresiveloan@yahoo.com OR Call/Text +1(603) 786-7565



Alexis Ohanian says ...
BETTERMENT FUNDING INC... {bettermentfunding@gmail.com}
Hi everyone, i am Alexis Ohanian am so glade coming back to this great forum to testify about the help i received from Chester Brian. I was in desperate need of a loan in other to be free from debt and financial bondage that was place on me by my ex husband. It was really bad that i have to seek for help from Friends,family and even my bank but on one could assist me because my credit score was really bad. So i was browsing with my computer and saw some testimonies from people Chester Brian assisted with a loan, then i decided to contact him on his email {bettermentfunding@gmail.com}, then i received a mail from them and i did all that was asked from me. To my greatest surprise they transferred to my account the loan i requested and now i am so happy clearing my debt and have also started a business with the remaining amount to take care of myself and family. If you need a loan do contact the best loan lender of all time Chester Brian on his email: {bettermentfunding@gmail.com}
Gabriel Snowden says ...
VICTIM OF SCAMS BUT NOW A VICTOR THROUGH FRANCISCO LOANS.
EMAIL: Franciscoloansinvestment@gmail.com

Gabriel Snowden is my name from 1731 Hilltop Haven Drive, Red Bank, NJ 07701 USA. It lifts my heart to actually use this medium to save innocent people who would have fallen into the wrong hands in quest to obtain an online loan. With all humility I want to personally warn all online loan seekers to be very careful while trying to get a loan, because it is no news that scammers are rampant everywhere all over the internet claiming to offer loan. I was a victim before now and I solemnly hope that you are a victor if you care to take my word of advise. Few months ago I was financially strained, and due to my desperation I was scammed by several online lenders. All hope was nearly lost until a co-employee suggested 'FRANCISCO LOANS INVESTMENT ' an online reliable and trustworthy lender for me, as I was almost at the edge of taking my life considering a loss of about $83,000; As God would have it, I applied for a loan from 'FRANCISCO LOANS INVESTMENT ' under Cynthia's (co-employee) recommendation and WOW in less than 72 working hours I got a credit alert confirming that my account has been credited with the loan fund of $220,000.00 which i originally requested. If after loosing much God has shown me light with the help of 'FRANCISCO LOANS INVESTMENT ', you too without doubt can as well obtain a loan from this reputable lending institution. IN ALL, if you, your relation or any closed person desperately need a loan, DO CONTACT or help that soul to communicate with FRANCISCO LOANS INVESTMENT via email on (franciscoloansinvestment@gmail.com)

A WORD IS ENOUGH FOR THE WISE..
thanks.

About Us

With 23 years experience in the mortgage brokerage industry I am committed to providing you with the highest quality professional service. 

With a reputation of offering a personalised, honest, ethical and comprehensive service I will work hard to ensure you receive the best lending package possible.  You can be confident that you will always be treated with respect, courtesy and professionalism throughout the loan process.

Contact Us

54 Wellesley Street, Office B, Level 3
Auckland 1010
New Zealand

Facebook Follow us on Twiitter  social google box(copy)