New Zealand Summer means Beaches, Sand, BBQs and Great Family Outdoor Adventures. Now is the most hectic time of the year but the most exciting time.
Auckland has grown so fast that there is are very important announcements from the Reserve Bank advising that from 1 October all Auckland "Investment" Properties will only be able to borrow maximum 70% finance and that if an Auckland "Investment" property from 1 October is sold within 2 years then capital gains tax will come into effect. Please note this is Auckland Province only. The rest of NZ will have more chance of borrowing over 80% to help the first home owners.
Also all non residents investors must have a NZ tax file number from 1 October 2015.
GDP has risen 2.5% in the year to July 2015. NZ exports remain high. With high migration there is still a shortage of housing particularly in Auckland.
Job Opportunities - unemployment rate March 2015 quarter was 5.8% (previous year 6.2%).
Property Market - Auckland median house price has increased 17% in the past 12 months up to June 2015 to NZ$840,165, Christchurch house price $474,269 up 3.29%, Tauranga house price $485,561 up 7.3% and the NZ average property $520,585 up 9.3% in past 12 months to June 2015 (QV report July 15).
Many Ex Pat Kiwis are moving back to NZ as well as many migrants.
Remember there is No Stamp Duty and No Land Tax in New Zealand. NZ is so beautiful that many people look at "lifestyle" as well as investment. Refer to my "Case Studies" on my website for Australian residents and Ex Pat Kiwis living in Australia investing or moving to NZ .Contact Mary from New Zealand Mortgage Solutions for a preapproval from a choice of leading New Zealand banks/lenders.
We are mortgage brokers who specialise in providing New Zealand and Australian finance.
We are accredited with 12 New Zealand banks/lenders and accredited with over 35 Australian lenders. This gives us and you an advantage.
Our focus is to help provide mortgage options and creating loan solutions for Australian residents and people around the world wanting a New Zealand mortgage. Our main aim has always been to help people own their own home and to choose with me the best loan to suit them long term.
To read the latest real estate news in New Zealand, checkout our newsletter.
Everything you need to know if you thinking of buying real estate in New Zealand. Updated each month.
We have compiled a handy checklist of you so you can begin to understand the process involved in getting a New Zealand mortgage.
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