So you’ve fallen in love with your first dream home! Now it’s time for a reality check; and I’m not talking about the price or even whether one or more buyers are trying to beat you to the same property. No, it’s time to call in the experts: a builder, roofer and pest inspector to…
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Prices are rising fast for many goods and services, so it’s never been more important to economise. With that in mind, here are seven things you can do to save money without seriously affecting your quality of life. New Zealand’s inflation rate has reached 7.3%, the highest level in 32 years, according to the most…
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Property prices may have declined in New Zealand as a whole during the first half of 2022, but some towns and regions actually experienced growth. Two major cities recorded price growth between January and May, along with a collection of smaller communities. Property prices may have declined in New Zealand as a whole during the…
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The government has introduced a new regulatory regime to govern conduct in the financial sector. Under the new regime, the authorities will be able to ban or regulate certain sales incentives. Also, banks will have to maintain effective policies to ensure customers are treated fairly. The government has introduced a new regulatory regime to govern…
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After the property market boomed in 2021 and started cooling in the first half of 2022, it now appears to have stabilised, according to realestate.co.nz. The data is also telling a much more positive story than the doom-and-gloom headlines might suggest. After the property market boomed in 2021 and started cooling in the first half…
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National residential construction costs increased 10.0% over the 12 months to June 2022, according to CoreLogic’s Cordell Construction Cost Index. That’s the highest annual growth rate on record, apart from a 10.2% result in 2001, when the GST was introduced. CoreLogic construction cost estimation manager John Bennett said that as fuel, freight and electricity costs…
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Two key statistics from a recent CoreLogic report show why now could be a great time to be a property investor. First, the national vacancy rate (which is the share of untenanted rental properties) fell to just 1.2%, which is the lowest in recorded history. Second, the median weekly rent for an Australian rental property…
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Australia has recently experienced “significant and unprecedented” rises in electricity prices, according to the Australian Competition & Consumer Commission, which actively monitors the energy sector. As of July 1, regulated price caps have jumped by up to 18.3% for households, compared to the previous financial year. The ACCC attributed the recent price increases to several…
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As of July 1, the federal government has made another 40,000 places available in its Home Guarantee Scheme (HGS) for first home buyers and single parents. Under the HGS, eligible buyers can purchase a residential property with a very small deposit, without having to pay lender’s mortgage insurance. Income caps and property price caps apply.…
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It’s exciting yet testing times if you’re in the market and seeking your first home. Your radar will be finely tuned for price reductions while watching the interest rate picture. The old cliché about swings and roundabouts comes to mind in this situation. What you may lose in higher mortgage payments, you’ll likely gain in…
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