Gain an advantage by keeping your ears to the ground.
Featured articlePullback from the war shock continues Each month we invite mortgage advisors around the country to give insights into developments in the residential real estate market from their unique perspective. Our latest survey has attracted 57 responses. The main themes to come through from the statistical and anecdotal responses include the following. While investors remain
Read More »Pullback from the war shock continues Each month we invite mortgage advisors around the country to give insights into developments in the residential real estate market from their unique perspective. Our latest survey has attracted 57 responses. The main themes to come through from the statistical and anecdotal responses include the following. While investors remain
Read More »Finance Demand is still relatively quiet Each month we invite mortgage advisors around the country to give insights into developments in the residential real estate market from their unique perspective. Our latest survey has attracted 58 responses. The main themes to come through from the statistical and anecdotal responses include the following. Overall demand for
Read More »Market quietens down amidst Middle East concerns Each month we invite mortgage advisors around the country to give insights into developments in the residential real estate market from their unique perspective. Our latest survey has attracted 41 responses. The main themes to come through from the statistical and anecdotal responses include the following. Many first
Read More »Banks open the doors some more Each month we invite mortgage advisors around the country to give insights into developments in the residential real estate market from their unique perspective. Our latest survey has attracted 59 responses. The main themes to come through from the statistical and anecdotal responses include the following. Banks have reignited
Read More »Fixing two years strongly preferred Each month we invite mortgage advisors around the country to give insights into developments in the residential real estate market from their unique perspective. Our latest survey has attracted 44 responses. The main themes to come through from the statistical and anecdotal responses include the following. Some slight easing of
Read More »Buyer’s market remains in force Each month we invite mortgage advisors around the country to give insights into developments in the residential real estate market from their unique perspective. Our latest survey has attracted 49 responses. The main themes to come through from the statistical and anecdotal responses include the following. There are few major
Read More »Healthy start to the year Each month we invite mortgage advisors around the country to give insights into developments in the residential real estate market from their unique perspective. Our latest survey has attracted 54 responses. The main themes to come through from the statistical and anecdotal responses include the following. First home buyers are
Read More »1.5% cashback deals blow out processing times Each month we invite mortgage advisors around the country to give insights into developments in the residential real estate market from their unique perspective. Our latest survey has attracted 51 responses. The main themes to come through from the statistical and anecdotal responses include the following. Brokers are
Read More »More buyers stepping forward Each month we invite mortgage advisors around the country to give insights into developments in the residential real estate market from their unique perspective. Our latest survey has attracted 49 responses. The main themes to come through from the statistical and anecdotal responses include the following. Brokers note seeing more first
Read More »Young buyers still dominate the market Each month we invite mortgage advisors around the country to give insights into developments in the residential real estate market from their unique perspective. Our latest survey has attracted 58 responses. The main themes to come through from the statistical and anecdotal responses include the following. First home buyers
Read More »Borrowers favour one-year fixed rates Each month we invite mortgage advisors around the country to give insights into developments in the residential real estate market from their unique perspective. Our latest survey has attracted 52 responses. The main themes to come through from the statistical and anecdotal responses include the following. Falling test rates are
Read More »Quiet mortgage market conditions Each month we invite mortgage advisors around the country to give insights into developments in the residential real estate market from their unique perspective. Our latest survey has attracted 63 responses. The main themes to come through from the statistical and anecdotal responses include the following. Brokers continue to report slow
Read More »Young buyers and investors still seeking advice Each month we invite mortgage advisors around the country to give insights into developments in the residential real estate market from their unique perspective. Our latest survey has attracted 52 responses. The main themes to come through from the statistical and anecdotal responses include the following. There continues
Read More »Caution returns to the mortgage market Each month we invite mortgage advisors around the country to give insights into developments in the residential real estate market from their unique perspective. Our latest survey has attracted 52 responses. The main themes to come through from the statistical and anecdotal responses include the following. There is some
Read More »Caution returns to the mortgage market Each month we invite mortgage advisors around the country to give insights into developments in the residential real estate market from their unique perspective. Our latest survey has attracted 56 responses. The main themes to come through from the statistical and anecdotal responses include the following. Brokers are very
Read More »Caution returns to the mortgage market Each month we invite mortgage advisors around the country to give insights into developments in the residential real estate market from their unique perspective. Our latest survey has attracted 52 responses. The main themes to come through from the statistical and anecdotal responses include the following. Bank turnaround times
Read More »Activity levels picking up Each month we invite mortgage advisors around the country to give insights into developments in the residential real estate market from their unique perspective. Our latest survey has attracted 70 responses. The main themes to come through from the statistical and anecdotal responses include the following. Activity levels have picked up
Read More »Banks opening the lending window Each month we invite mortgage advisors around the country to give insights into developments in the residential real estate market from their unique perspective. Our latest survey has attracted 69 responses. The main themes to come through from the statistical and anecdotal responses include the following. Banks have cleared mortgage
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After successive reductions to the Official Cash Rate in New Zealand, many banks have started reducing home loan interest rates. This has included floating (or variable) rates, which some customers prefer for the flexibility they can offer.
Read More »High frustration at bank delays Each month we invite mortgage advisors around the country to give insights into developments in the residential real estate market from their unique perspective. Our latest survey has attracted 58 responses. The main themes to come through from the statistical and anecdotal responses include these. Brokers are more and more
Read More »Spring bounce in demand Each month we invite mortgage advisors around the country to give insights into developments in the residential real estate market from their unique perspective. Our latest survey has attracted 75 responses. The main themes to come through from the statistical and anecdotal responses include these. Brokers have become very frustrated about
Read More »Strong buyer demand evident Each month we invite mortgage advisers around the country to give insights into developments in the residential real estate market from their unique perspective. Our latest survey, undertaken this week, attracted 59 responses. The main themes to come through from the statistical and anecdotal responses include these. Bank turnaround times for
Read More »More buyers making enquiries Each month we invite mortgage advisers around the country to give insights into developments in the residential real estate market from their unique perspective. Our latest survey, undertaken this week, attracted 51 responses. The main themes to come through from the statistical and anecdotal responses include these. Lenders are becoming more
Read More »Buyers return Each month we invite mortgage advisers around the country to give insights into developments in the residential real estate market from their unique perspective. Our latest survey, undertaken this week, attracted 65 responses. The main themes to come through from the statistical and anecdotal responses include these. Buyers are returning to the residential
Read More »Buyers still cautious Each month we invite mortgage advisers around the country to give insights into developments in the residential real estate market from their unique perspective. Our latest survey, undertaken this week, attracted 58 responses. The main themes to come through from the statistical and anecdotal responses include these. A few more investor buyers
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A lot of New Zealand homeowners will be coming to the end of their fixed terms this winter. One of the reasons for this was mortgage holders choosing shorter terms last year. By choosing a shorter term, they may have hoped rates would go down, and they’d be able to re-fix sooner than the average term length of 12-24 months. But seeing your term come to an end can still be a stressful time, especially if the rate you’re being offered is higher than you expected. The high cost of living is continuing to put pressure on many households.
Read More »Buyers more cautious Each month we invite mortgage advisers around the country to give insights into developments in the residential real estate market from their unique perspective. Our latest survey, undertaken this week, attracted 54 responses. The main themes to come through from the statistical and anecdotal responses include these. First home buyers are backing
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If you’re sitting on a 30-year loan, being mortgage-free can seem like a long way off. But small changes to how you live and structure your home loan could have an impact on the size of your loan and how long it could take you to pay it off.
Read More »Buyers still cautious Each month we invite mortgage advisers around the country to give insights into developments in the residential real estate market from their unique perspective. Our latest survey, undertaken this week, attracted 46 responses. The main themes to come through from the statistical and anecdotal responses include these. Amidst deepening concerns about job
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The Co-operative Bank is proud to have helped more than 370 customers get the keys to their first homes over the past year. While getting onto the property ladder might feel like a far-off dream for many New Zealanders, first home buyers made up 30% of new home loans drawn down by customers of The Co-operative Bank in the past 12 months.
Read More »Buyers more cautious Each month we invite mortgage advisers around the country to give insights into developments in the residential real estate market from their unique perspective. Our latest survey, undertaken this week, attracted 51 responses. The main themes to come through from the statistical and anecdotal responses include these. Buyer interest in residential property
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Purchasing a home as a first-time buyer has only gotten harder as the years have gone on. In 1985, the average price for a house was $56,500, while the average salary was around $17,100. Meaning the average home cost around 3.3 times the average wage.
Read More »Buyers edge back Each month we invite mortgage advisers around the country to give insights into developments in the residential real estate market from their unique perspective. Our latest survey, undertaken this week, attracted 54 responses. The main themes to come through from the statistical and anecdotal responses include these. Buyer interest in residential property
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Saving for a deposit to buy your first home is potentially one of the toughest, and longest, roads on your journey to home ownership. But once you’ve saved for it, what do you do next? Buying a home is a big investment, so you’ll likely want to be clear on all the stages that go into it.
Read More »First home buyers back Each month we invite mortgage advisers around the country to give insights into developments in the residential real estate market from their unique perspective. Our latest survey, undertaken this week, attracted 53 responses. The main themes to come through from the statistical and anecdotal responses include these. While first home buyers
Read More »First home buyers back Each month we invite mortgage advisers around the country to give insights into developments in the residential real estate market from their unique perspective. Our latest survey, undertaken this week, attracted 56 responses. The main themes to come through from the statistical and anecdotal responses include these. Banks are slightly easing
Read More »Investors increasingly present Each month we invite mortgage advisers around the country to give insights into developments in the residential real estate market from their unique perspective. Our latest survey, undertaken this week, attracted 57 responses. The main themes to come through from the statistical and anecdotal responses include these. The extent to which advisers
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The Christmas period can be a busy time, with gifts to buy, food to prepare, loved ones to visit or who are coming to stay, and summer holidays to take. But if you’re also looking to buy or sell a home during this period, there will be a lot more on your plate you may need to consider.
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After the decision to buy a home, the next big decision is where to go for your home loan. In the current interest rate environment, looking for the best price on your home loan is one factor, but there are other important considerations for new homeowners to think about too.
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Policy change to boost housing market The coalition government has now been formed and we have some new insights into the operating environment which people in the housing sector will face in the next few years. Specifically, the restoration of interest expense deductibility for property investors at an 80% level will return from April 1
Read More »Investors slowly returning. Each month we invite mortgage advisers around the country to give insights into developments in the residential real estate market from their unique perspective. Our latest survey, undertaken last week, attracted 75 responses. The main themes to come through from the statistical and anecdotal responses include these. First home buyers remain actively
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Buying a home is a significant life milestone—one that comes with many questions and concerns, especially in the current market conditions. At BNZ, we often hear these concerns from our customers. Here’s a snapshot of the current market, some helpful tips for first home buyers, and how BNZ can support you on your property journey.
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Loan Check is free to use and lets you quickly check your chances of getting pre-approval for a mortgage. It also lets you adjust your figures and immediately see the effect on your mortgage potential. If your Loan Check results look positive, we match you with a selection of trusted mortgage brokers from our hand-picked panel.
Read More »Strong first home buyer interest Each month we invite mortgage advisers around the country to give insights into developments in the residential real estate market from their unique perspective. Our latest survey, undertaken last week, attracted 75 responses. The main themes to come through from the statistical and anecdotal responses include these. First home buyers
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Self employed or have irregular income? Here’s how you could still get your home loan application approved. Traditional lenders like traditional income. But in real life, people earn money in different ways: from the self-employed, shift work, casual work, and more. You’ve got a subset of Kiwis who are very successful on their own merits, but they could be shut out of ‘prime’ or ‘bank’ loans simply because they don’t fit the credit criteria.
Read More »Interest rate falls still not imminent In my last column two months ago I rather cheekily wrote at the start “Maybe we’ll be right this time.” I was referring to the way in which all of our expectations regarding inflation and the levels to which interest rates would go have been wrong for the past
Read More »Investors return Each month we invite mortgage advisers around the country to give insights into developments in the residential real estate market from their unique perspective. Our latest survey, undertaken last week, attracted 85 responses. The main themes to come through from the statistical and anecdotal responses include these. The largest net proportion of brokers
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For many the time to refix their home loan is drawing near. As the clock ticks on your current interest rate term it can be scary pondering what your next move may look like as you search the web far and wide for that perfect rate. The truth? There is no ‘best deal’ or ‘perfect rate’. When it comes to choosing a new term there’s no one size fits all. Only you can determine what works best for you and often it’s better to assess your life situation and what rate will give you the most stability and reassurance both right now and over the life of your mortgage.
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In the current economic climate, where home loan rates have been changing frequently, many Kiwis are carefully considering their finance options. Core Logic have estimated between 50-60% of existing home loans (by value) are due to be repriced in the next 12 months or so and are likely to see a rise in their interest rates.
Read More »First home buyers dominant Each month we invite mortgage advisers around the country to give insights into developments in the residential real estate market from their unique perspective. Our latest survey, undertaken last week, attracted 60 responses. The main themes to come through from the statistical and anecdotal responses include these. First home buyers remain
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Kiwibank Co-own is another way of getting on the property ladder and is achieved by teaming up with friends or whānau, pooling your savings to get a deposit and together borrowing the amount that’s needed to buy the property you’re all after, taking that exciting leap onto the property ladder.
Read More »Mortgage rates up – again. Maybe we’ll be right this time. That is probably the best way us analysts could start our reports regarding interest rates at the moment because our optimism these past few months regarding interest rates for home buyers peaking has been unfortunately misplaced. When I last wrote this column towards the
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Home ownership – it’s the Kiwi dream. That feeling of elation when you first get told “it’s yours”, the first glimpse as you unlock the door, the first time you arrive home. Your home. All those years of hard work have finally paid off.
Read More »Strength remains Each month we invite mortgage advisers around the country to give insights into developments in the residential real estate market from their unique perspective. Our latest survey, undertaken last week, attracted 55 responses. The main themes to come through from the statistical and anecdotal responses include these. First home buyers remain active in
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Want to achieve the age-old dream of home ownership? There’s something special about money well spent on that slice of land that’s now yours. But sometimes that dream can feel like just that – a dream. But Kiwibank wants to turn this into reality by supporting people to team up
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While the general thinking may be that spring or summer is the best time to sell your home, think again. If you talk to seasoned agents, they will argue emphatically that winter is their busiest time of the year. And, in 2023, when there’s an election in October that will interrupt the traditional spring selling
Read More »Strengthening signs grow Each month we invite mortgage advisers around the country to give insights into developments in the residential real estate market from their unique perspective. Our latest survey, undertaken last week, attracted 53 responses. The main themes to come through from the statistical and anecdotal responses include these. First home buyers are solidly
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When it comes to getting a new home loan or refinancing a property, many high-income households face a choice of working with a personal banker through private banking or engaging a mortgage broker. If you have a personal banker (also known as a private banker), your initial instinct may be to contact them regarding your
Read More »Mortgage rates have probably peaked Back on April 5 when the Reserve Bank surprised the financial markets by increasing the official cash rate 0.5% rather than the expected 0.25%, a lot of optimism about the rate peaking at the 5.5% level predicted by the Reserve Bank started to disappear. This loss of optimism accelerated in
Read More »Signs of a bottoming out Each month we invite mortgage advisers around the country to give insights into developments in the residential real estate market from their unique perspective. Our latest survey, undertaken last week, attracted 74 responses. The main themes to come through from the statistical and anecdotal responses include these. More first home
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As the property market continues slow progress, the Government and Reserve Bank (RBNZ), content that there is more financial stability after restrictions, are making moves that will likely encourage more buyers into the market. This month’s HomesEstimate report shows that change could be afoot, with both Auckland and Wellington showing slight price increases compared with
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Debt-to-income (DTI) rules restrict a borrower’s debt to a set multiple of their income. Various countries have employed DTIs for mortgage applications, because they can be an effective tool for ensuring loan affordability. Recently, the Reserve Bank has been gearing up to introduce DTIs in New Zealand. This article covers the Reserve Bank’s recent announcements
Read More »Banks more willing to lend Each month we invite mortgage advisers around the country to give insights into developments in the residential real estate market from their unique perspective. Our latest survey, undertaken last week, attracted 55 responses. The main themes to come through from the statistical and anecdotal responses include these. First home buyers
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Trade Me has released its annual State of the Nation report surveying 2,198 Kiwi who searched for a property, job or vehicle on Trade Me in 2022. The report produced some encouraging results that contrast with the current, somewhat pessimistic, view of the property market voiced in the media. 1. People still want to buy
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Many home owners are getting ready for a substantial rise in their mortgage payments, as their one and two-year fixed interest rate deals conclude. While every household’s circumstances differ, it’s safe to assume that the extra interest expense will pose a challenge for the majority of borrowers. If you’re concerned about how to handle this
Read More »Most NZ interest rates have peaked In my last column two months ago I noted that the factors affecting interest rates in New Zealand were starting to change and the potential for further increases in fixed mortgage rates was disappearing quite rapidly. I ventured the opinion that some buyers would start to return to the
Read More »First home buyers present Each month we invite mortgage advisers around the country to give insights into developments in the residential real estate market from their unique perspective. Our latest survey, undertaken last week, attracted 52 responses. The main themes to come through from the statistical and anecdotal responses include these. Borrowers are evenly split
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During the Covid-19 pandemic, we saw the Reserve Bank lower the OCR to help alleviate some of the inevitable pain felt by homeowners and businesses struggling to service their debt. During this time, we saw interest rates plunge to record lows of around 2% – and this had a knock on effect that saw more
Read More »First home buyers return Each month we invite mortgage advisers around the country to give insights into developments in the residential real estate market from their unique perspective. Our latest survey, undertaken last week, attracted 61 responses. The main themes to come through from the statistical and anecdotal responses include these. First home buyers are
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Property experts and agency heads give insight into the 2023 market, and it’s a more positive outlook than you might expect. If you are looking to sell this year though, there are many macro factors at play, so we’ve gathered advice on the best time to hit the market. What can we expect to see
Read More »Peak pessimism passed. Back on October 18 when the annual inflation rate came out for New Zealand the number was a lot worse than expectations. At 7.2% the annual increase in the cost of living was well above market expectations for a 6.6% result. Expectations of tightening monetary policy led to a 0.5% round of
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Summer is well and truly upon us, and if you’re thinking about putting your house on the market in 2023- we’re here to help set the wheels in motion. To start you off, here are six simple steps to get your house sale-ready: Make necessary repairs – Before putting your house on the market, address
Read More »Buyer drought for summer persists Each month we invite mortgage advisers around the country to give insights into developments in the residential real estate market from their unique perspective. Our latest survey, undertaken last week, attracted 45 responses. This is lower than normal but understandable given the time of year. The main themes to come
Read More »More buyers withdraw Each month we invite mortgage advisers around the country to give insights into developments in the residential real estate market from their unique perspective. Our latest survey, undertaken last week, attracted 52 responses. The main themes to come through from the statistical and anecdotal responses include these. For the second month in
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Renovating vs relocating. It’s an extremely common quandary for homeowners. Do you stay put and renovate or do you move on, and find something new that will better to your needs in the coming years? Points to ponder when choosing between renovating or relocating: How much do I love my current location? How long do
Read More »Mixing the fixing. These are the last words I wrote in my previous column two months ago. “For most people fixing one year will be optimal. But it would pay to recognise the huge uncertain factors in play by considering fixing some portion of one’s debt also for two years – or even longer for
Read More »Rate rise impact evident Each month we invite mortgage advisers around the country to give insights into developments in the residential real estate market from their unique perspective. Our latest survey, undertaken last week, attracted 62 responses. The main themes to come through from the statistical and anecdotal responses include these. The recent round of
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Our quarterly Property Pulse Report reveals how confident Kiwi buyers and homeowners are in the property market, their main concerns as well as their intentions for the future. Together with Trade Me, we surveyed over 5,000 homeowners and 900 buyers across New Zealand. Here are the key insights for Q3: Most homeowners and buyers think
Read More »First home buyers active Each month we invite mortgage advisers around the country to give insights into developments in the residential real estate market from their unique perspective. Our latest survey, undertaken last week, attracted 56 responses. The main themes to come through from the statistical and anecdotal responses include these. First home buyers are
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House prices are down and supply is starting to surge across much of the country. If you’re looking to get into a property or to upsize, now could be a great time to do so. But, it would be wise to first ensure you are mortgage-savvy. We’ve enlisted the help of mortgage expert Murray Joiner,
Read More »Things have changed somewhat in the interest rates space since the start of August. Between the middle of June when wholesale interest rates hit peaks and the start of August the prevalent view globally was that rate rises to date and those expected to come would be enough to safely get the inflation genie back
Read More »First home buyers back Each month we invite mortgage advisers around the country to give insights into developments in the residential real estate market from their unique perspective. Our latest survey, undertaken last week, attracted 68 responses. The main themes to come through from the statistical and anecdotal responses include these. First home buyers have
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Not so long ago, ‘millionaires’ were few and far between. Now, here in 2022, it’s a concept common among the middle class – and it’s causing a growing divide. Dot Loves Data used homes.co.nz figures to analyse the sales price estimate of 1.64m New Zealand homes. Of these, 800,000 were shown to be worth over
Read More »Turning of the tide Each month we invite mortgage advisers around the country to give insights into developments in the residential real estate market from their unique perspective. Our latest survey, undertaken last week, attracted 68 responses. The main themes to come through from the statistical and anecdotal responses include these. Advisers report that first
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The property market is in a different phase to what many of us are used to with prices decreasing across much of the country. Decreasing property values are eroding homeowners’ capital gains (although the capital gains for many are in excess of 100%) and this is evident in Wellington where the median HomesEstimate is down
Read More »Early last year I noted the strength in the economy and how the Reserve Bank should be reacting to that by pulling back from their excessively loose monetary conditions. But with a focus on pushing the unemployment rate down to unsustainably low levels, excess reliance on economic models which don’t work, non-economic pursuits in areas
Read More »Conditions still tough Each month we invite mortgage advisers around the country to give insights into developments in the residential real estate market from their unique perspective. Our latest survey, undertaken last week, attracted 68 responses. The main themes to come through from the statistical and anecdotal responses include these. We passed the peak credit
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Last month, the team at homes.co.nz tried to put recent property price decreases into perspective by comparing any price drops to the average capital gains generated across the country. Although most kiwi homeowners have owned their home for an extended period of time and are able to withstand price fluctuations, we do acknowledge that there
Read More »Conditions tough Each month we invite mortgage advisers around the country to give insights into developments in the residential real estate market from their unique perspective. Our latest survey, undertaken last week, attracted a lower than usual number of responses at 42. Perhaps the sense of despair among some respondents is to blame. The survey
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2022 has seen a change in the New Zealand property market. Prices are softening across most of the country, sales volumes are decreasing and those properties that are on the market are taking longer to sell. There are a number of underlying reasons for the changes (increasing interest rates being one) and this change has
Read More »The Reserve Bank started raising its official cash rate in October last year and following the 0.5% rise on May 25 the rate now sits at 2.0%. This is the level at which many of us economists think the Reserve Bank is neither stimulating the economy nor restricting it. That is, 2% is considered to
Read More »Credit crunch slowly easing Each month we invite mortgage advisers around the country to give insights into developments in the residential real estate market from their unique perspective. Our latest survey, undertaken last week and yielding 50 responses shows first home buyers are still wary but becoming slightly less so, lenders are becoming slowly more
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Non-bank lending is booming in New Zealand. According to the latest release of Reserve Bank lending figures in April 2022, non-bank lending in New Zealand has skyrocketed over the last few years, outpacing the major banks’ growth by a significant margin. Is it COVID? Is it the major banks interpretation of the CCCFA?
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Many homeowners around the country have recently received the updated Capital Value of their home, which in some cases has shown a massive increase in value. For some, the increase will feel like an eyewatering amount (close to winning lotto), and while this may be greeted with joy, there is one downside: higher valuations typically
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Sustainability is an increasing concern for many Kiwi’s and is starting to be more front of mind for those in the property market. For current (and prospective) homeowners, being more sustainable means reducing their carbon footprint throughout the building lifecycle including building and construction; living in the home day-to-day; and during renovation and deconstruction. Many
Read More »Credit availability improves Each month we invite mortgage advisers around the country to give insights into developments in the residential real estate market from their unique perspective. Our latest survey, undertaken last week and yielding 49 responses, (lower than usual because of Easter) shows bank willingness to lend has solidly improved over the past two
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