Archive: 2007
Residential values slow enough to stay stableResidential property values have slowed just gradually enough this year to avoid eroding values the Real Estate Institute of New Zealand (REINZ) says. Can't afford to buy in Ak? Look southOne of NZ's property hot spots is one of its coldest, with one expert predicting big things for Invercargill next year. President of NZPIF to address Commerce Select Commiitte in Feb 2008Legislation affecting property investors has either been introduced to the house this month or will be early next year. Rates higher for longerGiven that the Reserve Bank held the Official Cash Rate (OCR) at 8.25% following its final rate review of the year last week, it is not surprising that there have been few movements in home loan rates since then. Present is only the past repeating itselfCliff Seque, President of the Otago Property Investors' Association, looks at the trends in the property market. QV statistics confirm slowing property marketQV's October statistics released today report growth in national property values of 12.7% over the past year. 3000 first home buyers take up Welcome Home LoansThe government's major initiative to help first-time buyers, Welcome Home Loans, into their own home has reached 3000 loans. Landlords react to compulsory insulationResponding to the Government's energy efficient plans announced yesterday, the NZ Property Investors' Federation (NZPIF) President Martin Evans said the Federation was opposed to any measures to make its members compulsorily insulate their homes. Cooling house pricesJames Weir reports in the Dominion Post today that house prices are likely to increase by just 5 percent this year. Some relief on 2yr ratesAfter a succession of increases in mortgage rates over recent weeks several lenders have now cut two year fixed rates. US house prices in freefall, recession likelyThose who believe that the NZ economy is destined to follow North American trends have plenty of cause for concern in the latest housing data out of the US today. State tenant upset over space issueIn the “unbelievable” file, a Christchurch Housing NZ tenant expects a bigger house because her two sons will stay with her for one night every two weeks. “I don't ask for much, but I feel the kids need more space -- it's not good for them.” German landlord paints a poor image of our industryGerman police have arrested a 60-year-old landlord after discovering he used cameras and microphones to spy on his tenants for a decade while they bathed and slept. Delivery of Insolvency Information from VedaOn 3 December 2007 the Insolvency and Trustee Service goes live with the new website to show NAPs and SIOs. Veda Advantage will be ready to start providing their Clients with any new NAPs and SIO information captured on the Insolvency register. Pensioner's win could slash state rentsThousands of state house tenants could be eligible for cheaper rents thanks to the dogged determination of a pensioner and a community law office. REAL ESTATE INDUSTRY BILL - Details finalisedThe Government announced (6 November) a raft of proposed changes to the way the real estate industry operates in New Zealand. The only way is upThe news for homeowners only seems to get gloomier at the moment. Right now mortgage rates are high across the whole market and they don't look like getting cheaper for anytime soon. 6% pa rental increases predictedA report from Westpac has predicted stagnant house prices but large increases in rental prices. How will the broadbased slowdown in housing be achieved?The feature article in the November ANZ Property Focus says that the devil is in the detail. Looking at the composition behind the real estate data suggests that the market is very dichotomised and house prices are falling. Have pet, can't rentPet owners struggling to find animal-friendly homes in a tight rental market are using novel techniques to impress potential landlords. More rate increases flow throughMortgage rates are continuing to increase even though wholesale rates fell slightly at the end of last week. Housing market still hotDespite the Reserve Bank's best efforts to cool the property market, house values are still rising. Short term rates up, long term rates stableAll the major lenders have now put their floating rate loans up to 10.05% following the latest increase in the official cash rate (OCR) to 7.75%. RESIDENTIAL TENANCIES ACT - ReformsAt the Property Investors Federation's annual conference, held earlier this month, the Minister of Building Issues, Clayton Cosgrove outlined some key reforms to the Residential Tenancies Act. Diana Clement: Blue Chip hard sell left me coldInvestors in hard-sell property investment company Blue Chip Financial Solutions Ltd may be wondering if they made the right investment decision. Results: 1-25 of 107 |