New Zealand Summer means Beaches, Sand, BBQs and Great Family Outdoor Adventures. More important, everyone is looking forward to their annual Christmas Holidays (normally 3 to 4 weeks from Chirstmas). Now is the most hectic time of the year but the most exciting time.
It is also the busiest time of the year for purchasing a New Zealand property to shift into before Chirstmas. The banks are very competitve right now. Fixed rates have increased over the past few weeks but the Reserve Bank has kept Official Cash Rate on hold (reflecting in the Variable Rate) for such a long period and forecasters recently predict a Cash Rate may increase in 2014.
As of 1 October the NZ Reserve Bank restricted lending from NZ banks to 80%, requiring 20% deposit. So far since this announcement the property market has continued to be active (particularly Auckland and Christchurch). Realestate.co.nz has announced a surge of houses coming on market (up 10% of last year). Rental demand will continue in these locations due to more young people not purchasing a property, increased people into New Zealand (many ex pats returning) and increase in immigration. Job Opportunities - unemployment rate in September quarter was 6.4% (previous year 7.3%) and economists forecast it to fall further.
Auckland median house price has increased 13.6% in the past 12 months up to 30 September 2013 to NZ$662,976 (QV report Sept 13) and the NZ average property has risen in the 12 months up to September 2013 8.4% to $452,535 (QV report Sept 13).
Remember there is No Stamp Duty and No Land Tax in New Zealand. NZ is so beautiful that many people look at "lifestyle" investment also.
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.
New Zealand Mortgage Solutions has been in the news recently. Please click on one of the articles below to learn more about us.
Mary O’Brien was also on Sky Business Channel 6.30pm Prime “Your Money On Demand” 1 August 2011 for a 5 minute interview re Australians Investing In New Zealand - small deposit and no stamp duty. Viewers found it great.
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