New Zealand Winter means beautiful picturesque snow in the skifields, "evergreen" New Zealand with the clean sheep and picturesque landscape colours.
From a Financial, Residential and economic situation, NZ has been growing so strongly that the Reserve Bank announced an increase of .25% cash rate to 2.75% for the first time since July 2010.
As a result Variable interest rates have increased as well as fixed rates, but recently the banks have been competitive and NZ borrowers have been locking in their fixed rates (contact Mary for refixing your NZ loan).
GDP has risen 3.3% in the year to March 14. NZ exports remain high. With high migration, shortage of housing particularly in Auckland and Christchurch, there will still be strong demand for these locations.
Real Estate Institute of NZ April data shows numbers of house sales were 21% down from 1 year earlier.
This is mainly due to the Budget Announcement in May, less first home buyers cause of the Reserve Bank restriction on 20% deposit for property plus an Election in September. Job Opportunities - unemployment rate April 2014 quarter was 6% (previous year 6.2%) and economists see it falling further. This quarter was the strongest annual pace of jobs growth since 2004. Skills shortage is prevalent.
Property Market - Auckland median house price has increased 13.9% in the past 12 months up to April 2014 to NZ$705,867, Christchurch house price $451,794 up 7.9% and the NZ average property $468,383 up 8.4% in past 12 months to April 2014 (QV report May 14). 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.
Many people these days are also looking at "lifestyle" investment and have invested in beautiful locations in NZ e.g. Queenstown. Mary has written (refer to Mary's Media Releases on website) a special magazine writeup on UK, Irish and other nationalities moving to New Zealand called "Live The Kiwi Dream" in Australia New Zealand Magazine UK June 14 - New Zealand is a great place to live!!
Remember New Zealand is so beautiful that many people look at lifestyle as well as investment. Many Australians have invested in New Zealand Read our “Case Studies” and now Read our latest newsletter below.
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.
Click here to read more media releases.
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