One of the big reasons to use mortgage advisers, rather than go direct-to-lender, is because they give you more choice. And one big way in which advisers offer more choice is by including non-bank lending institutions on their home loan panel. As the name suggests, non-bank lending institutions do offer loans but don’t have a…
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New and existing build-to-rent developments will now be exempt from the interest limitation rules that recently came into force. Since 1 October 2021, it has no longer been possible to claim interest for residential property acquired on or after 27 March 2021. For properties acquired before 27 March 2021, the ability to deduct interest is…
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As interest rates rise, it’s possible New Zealand will experience an increase in ‘mortgagee sales’, which presents both opportunities and risks for buyers. A mortgage sale is when a borrower defaults on their mortgage, causing the lender (i.e. the mortgagee) to seize and sell the property. For buyers, the big upside to acquiring a home…
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Property investors throughout most parts of New Zealand are enjoying gains in their rental income, but those increases are occurring at decreasing rates. Rents rose by 4.0% (as per the flow measure) in the year to July 2022, according to the most recent data from Stats NZ. That was down from 4.9% year-on-year growth in…
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Has the property market boom ended? It’s possible with the latest property data showing signs that some of the rocket fuel is out of the market, and concerns about inflation and higher mortgage rates could be having an impact. According to researcher CoreLogic NZ, quarterly property price growth was 3.6% across New Zealand to the…
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Confidence in the future of the property market remains at record levels after two years of world-leading growth in property values, despite a fourth successive mortgage hike. According to Statistics New Zealand, more building consents have been granted in the 12 months to February than ever before. Dwelling consents are up 25% year-on-year with 49,733…
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If you’re worried about the future of our economy and wondering if this is the right time to buy a property, look no further than the skyline for your answer. We have a record 150 cranes erected across New Zealand – a true sign of long-term confidence in the economy and the property sector. More…
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The Reserve Bank of New Zealand (RBNZ) has introduced its fourth consecutive interest rate rise in a dramatic attempt to rein in rapidly rising inflation. The 0.5% increase is designed to try to stop inflation breaking the 7% barrier and potentially stalling the economy. It was the biggest increase in 22 years, taking the Official…
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Recent data shows only 21% of our Pacific Peoples in New Zealand own their own home. In response to this alarmingly low rate, the government has committed to spending $2.64 million over the next three years on improving finance and property education. It aims to improve the housing outcome of Pacific people in Aotearoa through…
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Selling your house has never been more profitable with most owners collecting a windfall of more than $400,000, according to the latest data from CoreLogic. Owners achieved a median average resale profit of $420,000 in the December quarter, according to the data provider in its latest Pain & Gain report. It is almost twice the…
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