Category Archives: Mortgages Finance Money

Reserve Bank of New Zealand makes a serious statement…

….and you know what….for once they don’t seem to be happy about the level of the NZD, in its current incantation!

Oh wow seriously guys…..

Anyway if you’re interested the statement is here

26-09-2014 NZRB stmt

and just in case you are wondering what Google are sayin’ (as at 9pm anyway) about this event which was “all over” the NZ media today….

26-09-2014 NZD say what

…actually am slightly stunned by there (“Googles that is”) lack of news about it….maybe the world really is changing and its looking like I can imagine what it feels like to live in China?

Mortgage Rates favouring First Time Buyers..

June 15th 2012

Nice to be able to write a headline like the above one, because its not always been the case, especially so in the Nelson region.

Coincide that with a seemingly more competitive lending environment, along with the ability to use some of your Kiwi-saver savings,  and the continuation of Welcome Home loans,  the decision by Dr Bollard this week to maintain New Zealands 2.5% official cash rate should be welcomed by anyone looking to buy their first home and lock in a reasonably priced mortgage. And dare I say it, good prospects for capital growth in New Zealands sunshine capital.

And just perhaps if a Nelson region property is on your desired list you should read the article (The Nelson Mail June 13th 2012) whose headline I have placed above.

‘‘Now is a good time for two reasons. No 1 because interest rates are so low and No 2 because the upward leg of the house price cycle is only just restarting – meaning in two years’ time, even if interest rates are at the same level, I expect house prices to be higher. Therefore, it’s better to be a first-time home buyer now than it is down the track.’’

The above quote from the article summarises a couple of favourable reasons to consider the move, even a glimpse at recent Paymark figures, indicates Nelsonians are feeling better about themselves.

However to put it plainly, those whom desire to enter the first rung of the property ladder, could do worse than ponder this Business Day article written by Martin Hawes a few weeks back.

New Zealand Housing Affordability under the Spotlight

July 6th, 2011

Kiwis love real estate. If you need any reassurance of that, just look at the amount of media that has surrounded the allegedly proposed “Capital Gains Tax” on rental / investment properties by one of NZ’s political parties over the last few days.

Sure its law in Australia….but as was stated by a talk-back caller to Radio Live this morning, the caller questioned the relevance by trying to draw parallels with Mark Ellis’s Charlies which has been sold for $124m to overseas interests, the caller asking why a capital gains tax wasn’t applicable in that transaction?

Obviously Housing Affordability is uppermost in the minds of any Kiwi when they think of their next move.

Back on 26th March 2011 the terms of reference were posted on the web for the NZ Productivity Commissions Inquiry into NZ Housing Affordability.

The good news.

Each and every Kiwi is invited to visit the site, to click the orange DOWNLOAD button to read (very recommended reading chock full of stats) the 64 page booklet, and then to download submission forms to actively participate themselves. You can register your email address at the site to be kept up to date too.

The above site….here,  is advertised as going live on Friday 8th July 2011.

In due course, it will be very interesting to see/read their findings and/or recommendations.

Related info – Housing Affordability data at Statistics NZ



Private Sale Vs Real Estate Agent Question for you

April 16th, 2011

Here’s the situation.

You have placed your home on the market privately, commonly referred to in overseas markets as a FSBO.

After 5 weeks on the market,  you accept what you consider a satisfactory offer.

It has a couple of conditional clauses, one being bank finance. Unbeknownst to you the LTV on the mortgage required to complete the purchase is quite high.

So because of this, the bank or finance company requests/requires a valuation before you get the final ok.

Fair enough, it comes in, the lender is happy and the sale goes through…………now everyone’s happy……or should….???

The bank/lender was happy because the “sale price = their valuation”…..but what if…???

via Twitter

The above tweet appeared recently, and has to make you wonder about all of the story above, doesn’t it?

The Auckland based writer above mentioned “the highest independent valuation” and I’m wondering therefore if there weren’t more than one valuer involved here?

Would be interesting to know if it was a private sale or one conducted by an agency?

My question questions?

Were the best interests of the seller realised in this case?

What about the buyer, had they of gone to the table with a “pre-approved loan” based on valuations, how would they feel?

Could this happen anywhere in NZ, or is in more applicable to a “moving market” like we are currently seeing in Auckland, Nelson and a couple of other spots around the country?

NZ Realestate gets new iPhone App

Nov 25th, 2010

In association with Westpac Bank (you may have already seen the TV commercials) NZ property portal,, has just released an Augmented Reality iPhone app for NZ Home Buyers.

Check out the video here

I’ve been speaking about the benefits of Augmented Realty for over a year now, so its great to see it here in NZ from the industry leading website.

Further app details here.

Or download it here.

Android users may have to wait a while, although phones like Samsungs new Galaxy do ship with the Layar Augmented Reality layer already built in.

(UPDATE 26th Nov: have just been informed that the App is an iPhone app not an Augmented Realty like I thought, sorry for any confusion)

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