OCR Cut 29th January 2009 to 3.5%

This cut in the Official Cash Rate has been very much anticipated by most. We all should be aware of the huge hurt the global economy is in and the huge effect this is having on almost every single market we know. This rate drop is hoped to bring back some business confidence which is at a 30 year low which has caused our dollar to drop to approx .52 USD. Instantly after the OCR cut as you can see by this image the New Zealand dollar dropped 1 whole cent of the American Dollar and will most likely drop another 1 cent before it may rallay.

Its hard out there and with fuel prices creeping back up, Fonterras payout drop, house sales declining there isn’t alot to be optimistic about right now. But todays OCR drop of 150 bias points will hopefully go some way in helping that.

Here are the facts.

OCR before today was at 5.0% now it has dropped by 1.5% to 3.5%. The lowest in New Zealand history.

The OCR was at its peak at 8.25% which was in June last year.

On the flip side of this rate cut we will see our New Zealand Dollar drop slightly which is good for the exporters. The NZ OCR is still well higher than most of the western nations. With most of the western nations having official cash rates around 0 – 1%. Does this mean we still have a way to go before the activity in the economy picks up again. I feel there is still a way to go before the economy picks up and people feel comfortable to buy things.

Should soon be able to buy property at cash flow positive with interest rates creeping down to these levels.

January 29 2009 | The Market | 8 Comments »

Going Green – Are You Going to Keep Up With What Society Wants?

Generation Y have been bought up with an awareness of the environment and have become more inclined to use and purchase items that are deemed eco friendly. As a result eco-friendly properties are growing to be more well-liked. For a sellers best interest if your house is eco it’s useful for your buyers to be able to identify sustainable home building resources for themselves. When it comes to buying a home if you know the details of its build you can make vital decisions between one property and another based on just how careful the construction has been with taking into account the impact of protecting the environment. You can also identify which properties will save you funds when it comes to running costs and making repairs. And if you plan to put up additional buildings or extensions to your property, you’ll know how to go about it in a responsible way.

Here is a quote taken from a book I have been reading on sustainable living. It says sustainable material can come in many forms. Preferably it should be offered locally to lessen the environmental impact on transportation. The materials should originate from renewable sources, such as sustainable forest plantations, and the processing and manufacturing involved in preparing them for construction use should be efficient and non-hazardous. They should also be intended to last for a long time, reducing the need for repairs and replacements. It sounds like a lot of hog wash but the practical use and the impact

Sustainable building materials are not only excellent for the environment, they’re good for your health. In order to take full advantage of their staying power, they should be water resistant, which will also go well in stopping the growth of mould and rot, which can harm your health in many ways. Using natural materials such as wood or stone means you won’t have to be concerned about toxic and carcinogenic emissions such as those emitted by some petroleum-based building materials and asbestos. If builders used recycled or reclaimed materials in the construction of a property, you can use air-monitoring equipment to check the interior air quality and make certain no problems have arisen as a result. For many construction businesses, such tests are standard on eco-friendly homes, making them a better bet than ordinary properties. And most sustainable materials are designed for easy cleaning so that you won’t have to use to use strong chemical cleaning products which can potentially harm both you and the environment.

Once you begin looking into sustainable building materials, you’ll find that there are all sorts of intriguing options out there, including traditional cedar or stone, lightweight but unexpectedly strong bamboo or cork with wool-based cavity filling providing a tremendously efficient substitute to standard insulating materials, and linoleum or terracotta tiling perfect for floors. Materials such as these can be used to craft a home that is good for the environment, good for you, cheap to run and truly individual. You really can’t lose.

But for a start here are a few things you can do in your house today.

Start with Just a Bulb

Start with small changes that make a big difference in your own energy use and the pollution we generate. If every homeowner replaced their five most frequently used light fixtures or the bulbs in them with ones that have a low energy rating then you can save 10% of your power bill straight away. The initial cost can seem high but the long term rewards are good.

• Kitchen ceiling lights
• Living/Family room table and floor lamps
• Outdoor porch or post lamps

Facts

Energy saver lighting uses about 75% less energy than standard lighting, produces 75% less heat and lasts up to 10 times longer.

The energy used in the average home can be responsible for more than twice the greenhouse gas emissions of the average car. Helping with global climate change starts right at home with easy changes like light bulbs and fixtures.

Heart of the Home

Close to 50% of the energy used in your home goes to heating and cooling. It makes sense to ensure your systems are operating efficiently.

Air Filters & Obstructions

Change the air filter on your heaters or air conditioning modules at least every 3 months to run it at its maximum efficiency. Clogged, dirty filters really reduce efficiency of your system and the air quality in your home.

Keep your vents and registers unobstructed. Move drapes, rugs and furniture away from heat registers and return-air vents. Free-flowing air through the units provides more comfort and will save you money.

Save Money with Regular Maintenance

Get a tune-up for your HRV equipment yearly. Airflow and other problems can reduce your system’s energy efficiency by 15%.

Install a Programmable Thermostat

A programmable thermostat can save you  hundreds a year in energy costs! It will give you the flexibility to turn down the heat or air conditioning during the day and when you are away for extended periods of time.

Save 25 to 40% on Energy Costs

Seal your leaky heating and cooling ducts and increase their efficiency by as much as 20%, while increasing the comfort in your home. Much of your heating and cooling goes out through leaky ductwork.

Close to 75% of installed cooling equipment has the incorrect amount of refrigerant. This can lower efficiency from 5-20% and cause premature failure. Work with your contractor to verify the level is correct.

Going Tankless

Infinity hot water heating (tankless) have an advantage over tank water heaters because they provide significant energy savings. The tank water heaters must constantly heat the tank’s water waiting for the demand, where the tankless provides the hot water on demand. Installing tankless water heaters in new homes makes a lot of sense. When replacing a tank water heater in an existing home, the cost of the tankless, plus installation will generally be 2-3 times higher.

If you are replacing an electric or liquid propane tank water heater with a tankless, the savings can be up to 50% on water heating costs. The cost of heating hot water in a home is about 14% of your energy bill, so it is a significant expense.

There are both electric and natural gas tankless hot water heaters. The natural gas units are more expensive than the electric, but they cost about 10-15% less to operate. A good plumbing contractor can help you calculate your potential savings and payback period, plus discuss which is better for your home.

Front Load vs. Top Load

When you need a new clothes washer, there are quite a few choices, but the primary choice is between a front or top loading machine design.

Front loading machines use about 38% less water and 56% less energy, and they are also easier on clothing because there’s no agitator. They require less detergent too. Big families can fit more clothes in a load, saving even more energy and some time doing laundry too. Front loading machines also extract more water, reducing drying times for additional energy savings.

Front loading machines do cost more upfront, but can pay for themselves fairly quickly. A family of four can save around $100 annually just on water and energy costs alone. The cost of top loading machines ranges from $400-$1200 and front loading machines from $700-$1500. A front loading machine can pay for itself in 2-3 years, depending upon the model you choose.

Remember to always look for ENERGY STAR!

ENERGY STAR Savings

Products with the ENERGY STAR rating use 10-50% less energy and water than standard models. The money you save on energy will more than make up for any additional cost. Look for the EN ERGY STAR label on clothes washers, refrigerators, dishwashers and many other household systems and appliances.

January 25 2009 | Buyers and Sellers | 2 Comments »

Christchurch Weather – Random and Extreme

A little over a week ago I wrote about Christchurch and its sweltering heat with temperatures reaching the 40 degree mark. But today it seems christchurch has turned another leaf with one of the most wild and powerful hail storm I have ever seen in this country. It was absolutely amazing to say the least. During the morning I was enjoying reading my book in the sun over in Governers Bay and at 10am I could start to hear the continuous thunder over the hills.

In the early afternoon I had to go out down to South Canterbury to visit some friends which was a disaster. I drove right into the storm at probably what was its peak. The hail stones probably the size of 50c pieces in diameter were pounding the windscreen and I was very sure that it was hard enough to break the glass or dent the metal so I sought shelter in the BP gas station in Rolleston while filling up and shocked at the power of how the water and hail was coming down.

After about 10 minutes the weather had cleared but it was evident at how powerful the storm was by the amount of water running down the roads. Continuing south it was amazing how thick the hail was. It looked like what the middle of winter would look like. In places the hail was at least 30cm thick on the ground and complete while out. Espessialy around Burnham.

Further down in Rakaia my car stopped. Typical BMW’s. The worst thing was it would start again. My only guess is that the extremely heavy and powerful rain and hail has got into the electrics somewhere and shorted something. The diagnostic is yet to be made.

From reports that I have been hearing in our Harcourts office this morning is that the storm was relatively isolated to the western and southern sides of the city People could see the lightning from the city but didnt experience the torential downpours. Areas in Lower Cashmare and around there were very badly hit by heavy rain with one of our staff reporting that they had been completely flooded out and that hail stones went through her roof. It will be interesting to hear what the total scale of damage has been. Further south when I was parked at the fuel station there were a number of cars with shattered windscreens and a few minutes before I got there the place was stuck by lightning.

When I get the camera out of my car I will upload a few photos here so you can see the extent of the hail from the service station and when I continued to drive. To say the least the weather was a freak of nature most probaly caused by convection updrafts but what ever it was it left its mark over southern Christchurch and Canterbury.

To see an article in the press click this link.

January 18 2009 | Uncategorized | 1 Comment »

Kitchens And Bathrooms Sell Houses

What are the two areas that we spend the most time in during any one day? The answers is the kitchen and bathroom. These areas are the business areas of anyones home and can easily set your home apart from the others. In previous posts I have spoken about the need, espessially in this current market to set youself apart from your competition. People spend a large part of their day in their kitchen and bathroom and this goes hand in hand with all the research I have looked at that has shown these two rooms to be at the top of the list of selling features when it comes to real estate sales.

Todays trend is to have an open plan kitchen. A big open plan kitchen can be good for watching the kids while making dinner, but not only growing families are looking for a larger kitchen. Open plan kitchens are also great for those who enjoy cooking and entertaining. When it comes to selling your house take care to make sure your kitchen is showing its true counter and cupboard space by clearing the bench clutter and removing excess decorative items from the tops of cupboards and in glass door cabinets. Also, make sure there are no additional carts, bookshelves or tables hindering the traffic flow.

When showing the house make sure the kitchen looks bright and clean. This area is generally the ladies area. In the kitchen you need to be thinking “how am I going to get the ladies to like this area.” This isn’t fact but generally the lady in the family will have more say when it comes to the buying process and the kitchen is a great place to start winning her over.

Today’s image of the ideal bathroom is that of a spa-like getaway inspiring a sense of relaxation and freshness. No matter the size or style of your bathroom, you can make it a more restful place to escape. The bathroom is a family area and generally a private area where parents are looking after their younger children or the rest of the family are cleaning and preparing themselves for the day or night. It’s very important.

Here is a list of things you can do to improve these two key areas in your home:

* Start with the paint colour. Pick a neutral colour that will flow nicely with the rest of the home. Paint the ceiling a tint of that colour and the trim a lighter colour. White trim can give a clean feeling to a room.
* Fix damaged tiles or replace unattractive flooring. Old vinyl tile with mold and mildew stains will really diminish the value of your home. Update with current flooring to make the room look more appealing and larger. Take the time to line up new tiles properly, crooked tiles or inconsistent patterns are not an improvement.
* In showers, sinks, tubs, or toilet repair damaged caulking and get rid of mildew stains. Wash fabric shower curtains to remove mold and mildew or purchase new shower curtain liners.
* Shine hardware. Make your faucet, taps, and showerhead sparkle. Use a toothbrush around faucets where it is difficult to clean. Turn your shower curtain bar, so that the shiniest part is facing outward. The eye is attracted by shiny things and it will make any hardware look new again.
* Sinks should be clean and stain free.
* Tighten or replace loose cabinet handles. Updating cupboard hardware can be a really quick update and change the whole feel of the kitchen or a bathroom vanity.
* Leaky faucets should be repaired.
* Old kitchen and bathroom cabinets should be painted or refinished. Do not be afraid to paint wood.
* Bench tops that are old and scratched should be replaced; an updated bench top will make a big difference in the offers that you receive.
* Remove garbage for a clean look and smell. Make it smell pleasantly clean but be careful not to over-scent with products that may be offensive to some.
* Allow natural light to come in. Tie back curtains and reevaluate window treatments. Window treatments should highlight the window, not conceal or distract from it. Clean mirrors, lighting fixtures and bulbs as well as, windows inside and out.
* Remove things that make the house and these areas personal to you. As they are family orientated areas people will want to try and imagine themselves in there.

By doing these things and possibly spending a little more time fixing or cleaning these areas can have a great effect on the selling of your home. I am not going to say that it will increase the value of your home – unless you totally renovate. But what I will say is that it will give your house that edge to stand out in the crowd. With sales volume the lowest in 17 years you need to have an edge and a reason for people to want to buy your house. I believe if you follow the steps outlined above you will be well on the way to having a better competitive edge than your competition.

January 18 2009 | Sellers | No Comments »

The Property Market in 2008

This is an excert from QV in their montly reports.

2008 has been a pivotal year for the NZ property market with a sustained drop in property values for the first time since 1998.  QV’s December Residential Price Movement report shows property values fell by 7.4% during the year.

“Property values held reasonably flat through the first three months of the year, but the decline kicked in through the autumn and winter months, during which time values dropped 6%.  With the significant drops in interest rates over the past three months, there has been an increase in market activity and values appear to be flattening again” said Mark Dow of QV Valuations.

“To keep 2008 in perspective it’s useful to look back at the activity of the past two decades.  Property values grew by 120% between 2002 and mid 2007. By way of comparison, the last period of sustained growth occurred between late 1992 and the end of 1997 when property values increased by 54%” said Dow.  “After such a period of sustained growth it’s inevitable that we will see a correction.  The question remains how long this period of falling property values will continue.”

“It’s also interesting to look at the types of properties selling at the different stages of the property cycle. Between 2000 and 2003 the number of house sales more than doubled, with a dramatic increase in the proportion of lower value property selling.  In the years 2004 to 2007, the number of house sales remained fairly steady, as did the proportion of low, medium and high value sales.  During 2008, the number of house sales fell dramatically and the proportion of lower value properties selling significantly decreased.  This pattern reflects the wider drivers of the property cycle.  When the economy is strong; job prospects are good and immigration is increasing, then demand for houses, particularly first homes, pushes prices up.  As the economy weakens and affordability becomes a real issue, first home buyers are usually the first to suffer; sales volumes drop and activity in the market moves back to mid to higher end properties as we saw through 2008″ said Dow.

Our December report showed a 7.4% decline over the past year (calculated over the three months ending December 2008 in comparison to the same period last year) while the average New Zealand sale price for December increased slightly to $378,605.

All the main centres showed further declines in property values.  In the Auckland Area values dropped back to -8.0% from the -7.4% reported in November.  Hamilton values fell to -9.3% from -8.5%, Tauranga to -9.0% from -8.4%, and the Wellington Area to -6.9% from the -6.0%.  Christchurch and Dunedin followed the same trend dropping to  8.0% and -7.7% respectively.

Most of the main provincial cities followed the national trend with property values easing further. Whangarei dropped  8.6%, Napier  8.1%, Nelson  7.6%, and Invercargill  9.1%.  However, a number of areas bucked the trend most notably popular summer destinations like Queenstown whose property values dropped to  10.6% from the -12.5% reported in November, and Gisborne to  5.8% from  9.6% last month.
What’s happening in Christchurch?

I dont need to go on any further from this brilliant report that sums up 2008 in a very very good way. The bottom line is if you are selling you need to realise that your house is worth less than it was 1 to 2 years ago. Its a shame but it had to happen. Property prices got to high and you will not see them increase again till a few factors are measured and fixed. These been income levels coming up so that debt can be serviced on mortgage payments and also not until household debt falls.

This year will not be an easy one.

January 15 2009 | The Market | No Comments »

Bloggers, Social Networkers and Marketing Stratergies. Help Is Here.

As you are probably aware by now I am very interesting in Social Networking and online marketing. This interest is leading me to some awesome contacts around the globe and opening my eyes to many different stratergies when it comes to marketing online and also in the offline world. If you look at my post about where 2009 is taking us and also if you look at my post about marketing real estate in 2009 you will see my opinion on the topic.

I will keep this post short and swet but I am asking for your help. This medium isnt the best source to ask on but I will try it anyway.

what I want is to create some small tutorials via web and video and blogs. Just to assist you hopefully. This is mainly targeted at the many agents that view this blog but also the sellers and buyers. This is a little project I am working on so please ask any question you like.

The more questons the better really – dont worry how silly they may seem. One topic is on how to embed a picture to a blog page. I will not be selling the stuff I do. It will be made avaliable freely through youtube and this blog. The things I am looking at pointed towards the online marketing world, but as I have said the online marketing is very much able to be used in the offline world. I thankyou in advance.

January 13 2009 | Uncategorized | 3 Comments »

Christchurch Turns Up The Heat

Just as we all go back to work the weather turns on some spectacular temperatures. Yesterday the temperatures reached in the mid to high 30’s but today Christchurch peaked 40 Degrees C in parts. Officially according to the metservice the max temp was 37.4 . Today’s maximum temperature of 40 Degrees C almost blew the old record out of the water which was  41.8 °C at: 14:39 on: 19 Feb 1973 some 35 years ago.

The metservice are predicting that this years summer will be hotter and drier than usual and will most likely last until mid March.

So what do you do in this heat?

January 08 2009 | Uncategorized | No Comments »

Selling your house in 2009

Marketing, price, presentation

Christmas and New Year is over. We are pretty much now beginning the 2009 year off back into work. I was back at work today to a bombardment of paperwork to be completed. The joys of life. As I said in my previous posts I said 2009 will be a year for change and opportunity. In terms of the change I believe that it will be more important than ever to be at the front edge of what’s happening so you don’t get lost in old ways of technology so that you’re not left behind which could cost you money.

There will be in 2009 a very big change in focus when it comes to marketing. As the credit crunch and the recession take full effect during the early parts of the year there will be a focus to finding more effective ways to market products to reach the audience. And Real Estate will be no different. This to me will be a vitally important key component that is going to become more and more important this year than ever before. Where and How you market your property will be the defining point in the result you achieve when you try selling. Obviously there are other things and I will cover them here as well.

The medians to advertise your property are going to change. In my opinion the need for print media is going to become less and less effective. The cost vs. the result isn’t stacking up any more. Don’t get me wrong that if you put a good sized ad in the news paper you are going to get a lot of local views that day in the paper but it’s a one shot. With the time taking to sell increasing and the attention span of the reader gets smaller due to increased pressures at work and with the family. (Our lives aren’t getting any slower). I think the way to go moving on in the future will be for longer term and specific advertising. This will be online and longer term print media.

When I Say longer term print media I am talking about the local Real Estate book that gets published by either the company or a collective of companies. But I feel that if the company isn’t big enough and doesn’t hold enough listings that if it tries to make a publication of its own for the area it will not get as much coverage. This is only because people these days and I think more towards the future don’t want to have to look all over the place to look at their complete choices. The one stop shop type of model is going to please the consumer of tomorrow.

Realestate.co.nz which is now New Zealand’s leading online Real Estate portal has a dominating effect on Real Estate adverting online. But this is a good thing for the way we as a society want to go. This will enable the public to have the greatest and a more comprehensive search. The reason I say that these sites and publications are going to become more important to your marketing is that people will want to compare your property with what else is on the market. I know people have been doing this for ever but the thing that I think is going to change is that people don’t want to be searching around all over the place to find comparisons. Also with our ever fast passed world you need to be out in the spotlight for longer. This is the reason for the publication with a longer shelf life to be more important in your marketing.

Along with where you market your property in 2009 Price is going to be ever so important. The slow down and recession which started in 2008 and that is now coming with us in 2009 is going to make pricing harder than ever but more important than ever. The thing is that some people will price to the market and some wont. If you are one that hasn’t our going to help the ones who have sell their property.

During the comparing process the buyer goes through your property will simply be eliminated because it’s a higher price compared to what they could buy down the road. I can’t stress this enough. You MUST price the property competitively in today’s market if you want to sell. And you need to advertise that. Be firm on that price but make it known. If you’re going down the track of no priced marketing Auction is the best way to go but make sure you at least have a guideline and listen to the buyers feedback on where they believe the price could be. But be firm on a reasonable value because buyers in a buyer’s market are tough but do listen.

One thing I want to mention on this point is that I know of agents out there actively in the field who are buying listings. Telling the vendor at the point of sale that the property is X amount which is a little more than any other agent you had in has said. This tactic is going to kill your chances of selling and what’s more frustrating is its going become more stressful for you when it seems like your dropping your price constantly because your agent you have chosen says you need to meet the market. 2009 will not be a time to test the market. It’s a time to listen, be aggressive and achieve results.

Presentation is going to be important. When marketing your property online the only guide the buyer has to go by when in the comparison stage is the pictures. Which make having good quality photographs very very important. There are plenty of places to go to have photography done and there will be more I think coming soon to give you a good choice of photographs. But it’s also about the photos that you take. Some agents and people swear by having less photos so that a person enquiring will ring the agent for the enquiry. This is wrong. And even more wrong for a generation Y person. Generally what will happen is that people just want to see everything so that they fully know what to expect. Then they can compare and either eliminate or shortlist the property.

Once the property is shortlisted you then will find the buyer will contact the agent and find out more meaningful and maybe more specific information for their needs. If they don’t contact the agent directly they will go to the open home.  If all the preparation work and everything is done right then you will hopefully get a contract on your property. But everything has to be right. In 2009 there will still be sales and probably more than in 2008 but the properties that sell will be priced right, marketed right and well presented. The combination of these factors and doing them right, especially been proactive about the marketing will ensure that you have a successful sale in 2009.

January 05 2009 | Sellers and The Market | 5 Comments »

Grants That Are Avaliable To Christchurch Home Owners

January 05 2009 | Uncategorized | No Comments »

Cocaine Energy Drink

I just stumbled across something that made my head turn and me walk back to the shop. This was a red Can of Cocaine Energy Drink. Something I thought was a bit of a laugh at the time. Just the name Cocaine Energy Drink is catchy. I noticed two drinks in the store, a blue can and a red can. Both 250ml cans of energy drink. So I bought a can each and tried them when I got home. I was pleasantly surprised. The blue can was a smooth fruity kind of flavour that went down extremely well. This would go very well in a cocktail drink as the flavour would complement most cocktails I have ever tried.

The red can one was wicked. The flavour was powerful and has a kind of bite to it that leaves you wanting more. The spice is very unique and is unlike any other energy drink I have tried before and would go very well with Vodka. The best part of it all is that unlike when I drink V or other energy drink I actually felt rather refreshed.

Later on I did some research on this product and found out that it is made in New Zealand. This is the words they use to advertise the product.

Here it is people, Cocaine Energy Drink is now in New Zealand and being distributed all over the country right now!

Limit (1) Can a day! Wooo! Yes this drink is hardcore.

Warning! You are about to experience the highest energy content of ANY energy drink on the market today! Cocaine Energy Drink is not just a re-hash of existing drinks: It is a completely unique new formula – it tastes like a fireball, a carbonated atomic fireball!

From what I can see the drink has a good approval from the Australia New Zealand Food Safety Authority and they have endorsed the product as a safe and enriching energy drink because of the added vitamins and almost half the amount sugar than the other energy drinks on the market.

This Cocaine Energy Drink seems to be an interesting product and seems to be new in New Zealand. But I think will do pretty well just because of the unique name it has. But also the drinks are really good. Here is the website to Cocaine Energy Drink. It will be interesting to watch how this product goes.

January 04 2009 | Uncategorized | 3 Comments »

Time To Stand Up And Speak Out – Let Your View Be Heard

A while back I spoke about the types of people in the world and this has been a very popular post with visitors. To sum up it talked about the person who will watch what happens, the person who waits for it to happen and then the person who makes it happen. 2008 was a perfect example of this with all the bad news doom and gloom there were clear examples of people sitting on the sideline, people wondering what was happening and then people actually making things of the situation and doing very well.

2009 in my view will not be any different. There will be many difficulties and challenges that we all have to face, but again there will be a few of us that watch or wait and wonder what’s happened and there will be others that take heed of the situation and make the most of it. It’s up to your own personality and your attitude which person you will be.

Today I want answers. Answers from you… Obviously I am a real estate sales person. I really enjoy my job, if I didn’t I wouldn’t be here. But this job takes a lot of hits from the general public and the like. There is a very negative perception in New Zealand about Real Estate and its agents. This has by no doubt stemmed from the bad experiences and gossip. Let’s try and change this. From 2009 I have decided to make a stand and start what I hope to be a better Real Estate experience. This is not intended to be a sappy BS sob story. I just want answers in order to start making it right.

If you’re a real estate agent reading this I hope you are striving for the same thing. While the entire world is changing I think it is important for us to keep up with the times of change and change the outdated system we have in place at the moment to something better. Something that helps the public better and something that gives them better security in their Real Estate Transactions.

If you’re a member of the public I ask you please leave a comment below, If you don’t want to put your name put anonymous. But it is important to me to get as many responses I can so me and all the other agents that may read this can get a better understanding from where your views are.

What I would like to know is a few simple things…. What is your perception of a real estate person and how could this be changed for the better? If you have had a good or bad Real Estate experience tell us. Lastly in your opinion how can the Real Estate system be changed or improved.

Again this will only work if you participate and comment so if you have landed to this page have your say. I want to make things happen and this is going to be the start. We have all heard the moaning and groaning that goes on and I believe we are now in a perfect situation to be able to make a difference and deal to it face on. So let’s just do it. 

January 03 2009 | Uncategorized | 9 Comments »

New Zealands Household Debt Falls For First Time in 17 Years

Lets start 2009 with a little less bad news from the economys point of view. We are now starting to see some of the effects on the credit crunch and how it is affecting the spending habbits of New Zealanders. In November New Zealand household borrowing fell for the first time in 17 years. This is a direct result of the recession and global market turmoil.

The Reserve Bank of New Zealand said seasonally adjusted total household borrowing fell 0.1 percent to NZ$174.3 billion last month, after a 0.2 percent rise in October. It was the first monthly decrease since the records began in 1991.

This year has seen a marked slowdown with consumer spending falling sharply due to the high interest rates, food and petrol costs increases and a slowing housing market. We have been in a recession since the beginning of the 2008, and many forecasters believe the downturn will continue until the middle of 2009. But all is not bad news from all this slow down. In 2008 alone the Reserve Bank cut the OCR by 325 basis points. And is likely to fall further on January 29th when the RBNZ meet again.

It is interesting to see this data and look at the bigger picture. There is no doubt that 2009 if looking at these statistics will be a slow year for the economy as consumers spend less and have less to spend. 

January 01 2009 | The Market | 1 Comment »