The Reserve Bank of New Zealand (RBNZ) raised the official cash rate (OCR) from 4.25% to 4.75% earlier this month, and implied that at least one more rate rise is coming. In a statement explaining the decision, the Monetary Policy Committee of the RBNZ gave two main reasons for the rate rise. Inflation is too…
Read more
National property prices declined further in January, meaning prices have contracted more than 8% since peaking in March last year, according to CoreLogic. CoreLogic chief property economist Kelvin Davidson said that after 10 consecutive months of price falls, a case could be made that we’re close to the bottom. But it could also be argued…
Read more
There’s been an increase in the number of new homes approved for construction, according to the latest data from Stats NZ. There were 49,538 new homes consented in the year ended December 2022, which was 1.1% higher than the year before. That number was also very high by historical standards, although below the peak of…
Read more
Digital property tours gained in popularity during Covid lockdowns when buyers and agents had to follow restrictions around inspecting homes for sale. These are a great tool tour to capture the attention of buyers as they are scanning through listings on property portals. A professional will create a quality digital tour, using a 360-degree camera…
Read more
Renovating your home can be a good strategy to improve its value, if you have made the right choices when you purchased. Any upgrade will offer its most significant value the moment it is finished. So, if you’re thinking of moving up the property ladder in the next five years, it’s probably best to start…
Read more
Home buyers have entered 2023 on an optimistic note with the latest national research revealing that homes are becoming increasingly affordable. National values dipped 3.4% in the quarter ending December 31, according to the new OneRoof Valocity House Value Index. And that can be good news, too, for owners looking to upgrade their property. Upsizers…
Read more
A significant challenge facing New Zealand remains the affordability of property for first-time buyers. Even though prices across the country have tapered from the incredible rises we witnessed during the pandemic, purchasing your first home remains a significant financial challenge. Often parents will step in to help their children find their first rung on the…
Read more
Did you know that the kitchen contributes approximately 15% to the value of a home? It is no wonder then that it’s one of the rooms where buyers pay so much attention, checking out storage, making sure the cupboards and drawers open and close smoothly, and inspecting all the appliances. If your kitchen feels like…
Read more
With tennis and cricket still dominating our TVs, it’s hard to get in a headspace to plan beyond summer. But that’s your challenge if you want to sell your home to either upgrade or downsize in the next few months. Many owners will rush their preparations immediately after New Year to try to catch the…
Read more
You hardly have to blink before you realise that summer has almost gone and it’s time to start thinking about preparing your garden for autumn. A wonderful, relaxing garden is a tremendous asset for your home, and it’s one of the features that potential buyers will love most when the time comes to sell the…
Read more
