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Real estate market wooing investors

31 Jan 2009: Low fixed-term deposit returns from banks and falling house prices might drive investors to consider becoming landlords. read more >>

Real estate market wooing investors

31 Jan 2009: Low fixed-term deposit returns from banks and falling house prices might drive investors to consider becoming landlords. read more >>

Key is locking in tenant to rental deal

31 Jan 2009: With vacancies rising in city offices because of the economic downturn, landlords need to work hard at holding on to their tenants, says Chas Keogh, newly appointed director of office leasing for CB Richard Ellis, who will oversee the management of a 15- member office services team in Auckland. read more >>

Banks hang tough over home loan 'break' fees

30 Jan 2009: Bank chiefs are resisting pressure to be lenient with customers wanting to break fixed-term mortgage agreements. Rapid falls in floating interest rates and new fixed rates have meant many are left locked into higher payments read more >>

Banks move quickly after Bollard drops rate

30 Jan 2009: Plunging interest rates will not stop house prices falling, but they may help some people hold on to their homes, say economists. read more >>

Housing market 'to bounce back in 2010'

30 Jan 2009: A new property information website is predicting a 50 per cent increase in property sales over the next two years. read more >>

Brother in law's guide: Opt for variable mortgages rather than 1 or 2 year fixed rates

30 Jan 2009: Here;s the short version. I see a deep global economic recession in 2009 convincing the Reserve Bank to cut the OCR to 1.5% by mid-2009, meaning it's now sensible for home owners to roll their fixed rate mortgages over to either floating rate mortgages or 6 month mortgages to wait for rates to fall further. The one year rates offered right now look tempting at around 5.7%, but will lock borrowers in to a rate that will seem high in 6 months time. Variable mortgage rates will probably drop below 5% by early June, while fixed rates stay at or above 5%. read more >>

Economists now see OCR trough at 2%

30 Jan 2009: Following the Reserve Bank's largely unexpected 150 basis point (bp) cut in the OCR to 3.5%, bank economists have come out saying they expect the OCR to fall as low as 2% in mid-2009, down from previous estimates of 2.5%-3%. read more >>

Mandatory e-lodgement just around the corner

30 Jan 2009: With only one month to go until mandatory e-lodgement, it's time to shift into top gear and submit all your e-capable conveyancing work by e-dealing. Preparations should be well under way in your firm to ensure everyone is trained and ready for 23 February 2009. read more >>

Building consents slump to 20-year low

30 Jan 2009: The number of new homes being authorised has slumped to the lowest level in more than 20 years. read more >>

Bollard warns against “defeatism”; says “don’t pull down the shutters”

30 Jan 2009: Reserve Bank Governor Alan Bollard has warned New Zealanders against "defeatism" and has called on consumers, businesses and bankers not to "pull down the shutters." read more >>

Westpac cuts 1% off business overdraft and base rates (Update 2)

30 Jan 2009: Westpac announced it would cut 1% off its business overdraft and base business lending rates following cuts in its mortgage rates on Thursday. The Reserve Bank of New Zealand cut the Official Cash Rate by 150 basis points on Thursday to 3.5%, with Governor Alan Bollard urging banks to pass on interest rate cuts. read more >>

PGG Wrightson cuts lending rates by 1.35%-1.4%

30 Jan 2009: Rural lender PGG Wrightson Finance told it would cut most of its lending rates by 1.35% to 1.4% on February 1, following the Reserve Bank of New Zealand’s 150 basis point cut in the Official Cash Rate to 3.5% on Thursday. read more >>

Mega cut means rate could drop to 2pc

30 Jan 2009: Another mega rate cut from the Reserve Bank yesterday has pushed down economists' expectations of how low the official cash rate will finally go to the 2 to 2.5 per cent range from 2.5 to 3 per cent previously. read more >>

OCR has been cut to 3.5%

29 Jan 2009: The Reserve Bank of New Zealand has delivered a bigger than expected 150 basis point cut in the Official Cash Rate to a record low 3.5%, arguing a deteriorating global outlook and easing inflation pressures meant it had to add further stimulation to the economy quickly. read more >>

Couple demolish their rotting home

29 Jan 2009: Thousands of rotting homes are expected to be demolished in the next two years and one North Shore couple have just taken this rare and drastic step. read more >>

Court decision curbs rural subdivisions

29 Jan 2009: The Environment Court has imposed limits on the number of house lots in the Swanson Foothills of the Waitakere Ranges - to the delight of campaigners against suburban sprawl. read more >>

Interest rates cut to 3.5pc -pass it on, says Bollard

29 Jan 2009: New Zealand now has the lowest Official Cash Rate since its introduction in March 1999, as Reserve Bank Governor Alan Bollard announced a 150 basis point cut. read more >>

RBNZ calls on banks again to pass on lower interest rates

29 Jan 2009: Reserve Bank Governor Alan Bollard has called on banks again to pass on lower wholesale interest rates to consumers and businesses to “play their part” in reviving the economy. Bollard issued the call as he cut the Official Cash Rate by a bigger-than-expected 150 basis points to 3.5%. read more >>

Mortgage rates the lowest for five years

28 Jan 2009: Banks are cutting their mortgage rates to the lowest levels in five years in response to the Reserve Bank's official cash rate review tomorrow - and property investors will be making the most of it. read more >>

Crisis shakes foundations of billionaires' row

28 Jan 2009: The financial crisis forged in the American housing market may have spread to every corner of the planet, but there is a single address in New York where the credit crunch, the stock market collapse, the implosion of Wall Street and even the Bernard Madoff affair are being felt more than any other place on earth. read more >>

CBS Canterbury to lead market with 5.75% 1 year mortgage rate

28 Jan 2009: CBS Canterbury told they were introducing a special new one year mortgage rate at 5.75%. The new rate will be the lowest mortgage rate on offer in New Zealand, surpassing BNZ’s previous market leading 5.95% for six-months. read more >>

Govt to tackle housing affordability by increasing land supply

28 Jan 2009: Housing Minister Phil Heatley said the National Government would reform the Resource Management Act and the Building Act in an effort to make housing in New Zealand more affordable by freeing up land supply. read more >>

Court tells leaky-home developers to cough up

27 Jan 2009: The courts are beginning to nail developers personally for the multi-billion-dollar rotting-homes crisis. Landmark rulings have been made against the chiefs of two big Auckland projects. read more >>

Govt looks at easing Maori land rules to help housing

27 Jan 2009: Freeing up restrictions on building on Maori land is one idea being put forward by the Government to make housing more affordable. read more >>

Going down: OCR cut to 4 per cent 'in the bag'

27 Jan 2009: The money markets regard a cut in the official cash rate from 5 to 4 per cent on Thursday as in the bag and see about a 50:50 chance that governor Alan Bollard will drop the rate to 3.5 per cent. read more >>

Govt should step in over mortgage break fees, says Goff

27 Jan 2009: Labour leader Phil Goff is calling on the Government to clamp down on banks charging exorbitant fees to people wanting to break their mortgages due to hardship. read more >>

NZ no longer least-affordable housing market

26 Jan 2009: Falling house prices have prompted New Zealand's housing affordability to improve slightly in the past year, compared with other countries. read more >>

Interest high in rent to buy

25 Jan 2009: Banks' beefed up home equity rules have sparked a surge of interest in rent-to-buy schemes from would-be homeowners who have good cash flow but can't stump up with a 20 per cent deposit for a mortgage. read more >>

Home dream closer for first-time buyers

25 Jan 2009: First-time home buyers are expected to rush into the market at the end of the year as falling interest rates and property prices combine to kick-start the sluggish market. read more >>

This house deal better than bank mortgage

25 Jan 2009:

Kiwibank cuts mortgage rate to five-year low

24 Jan 2009: Kiwibank has cut its one-year fixed rate to 5.99 per cent, the lowest one-year rate it has offered since August 2003. read more >>

Boulgaris in partnership with former Tauranga agent

23 Jan 2009: Real estate agent Michael Boulgaris has sold half his business to Wayne Maguire, formerly of Eve's Realty and Bayleys in Tauranga. read more >>

Home affordability best in four years

22 Jan 2009: Homes are the most affordable they have been in four years but they are still unaffordable for many and credit rationing by banks isn't helping. read more >>

Mortgage rates lowered

22 Jan 2009:

Housing set to be affordable by late 2009, report shows

22 Jan 2009: Plunging mortgage rates and another fall in house prices improved home loan affordability by a record amount in December to its best level in 4 years, the monthly Home Loan Affordability report from shows. At current rates of improvement, housing is likely to be broadly affordable again for most home buyers towards the end of 2009. read more >>

Investors wait for funds to thaw

22 Jan 2009: Investors with millions tied up in frozen mortgage funds look set to receive some of their money back in the next few months but uncertainty remains over when they will be paid in full. read more >>

Internet house auction illegal, Internal Affairs says

21 Jan 2009: Internal Affairs has shot down plans by a Christchurch couple to sell their house on an internet auction. read more >>

US housing picked to hit record low

21 Jan 2009: American builders probably broke ground in December on the fewest houses on record as sales and credit dried up, economists said before reports out this week. read more >>

Mortgage break-fees in the spotlight

20 Jan 2009: A Sunday Star-Times investigation has found startling differences in the fees banks charge customers to break fixed-rate mortgages, when they are supposed to only recover their costs. And now the Commerce Commission and banking ombudsman are investigating whether customers have been over-charged. read more >>

Courts should decide beachfront land row - judge

20 Jan 2009: The dispute over a survey of disputed land at Matapouri is of "significant public interest" that should be heard by the courts, an Associate High Court judge says. read more >>

Big rate cut due as inflation drops to 3.4pc

20 Jan 2009: A big interest rate cut next week is now all but certain, as the latest Consumer Price Index confirms a big slump in inflation. read more >>

Fancy having the PM as your neighbour? Now's the time to buy

19 Jan 2009: Bargain hunters have a golden chance to grab a piece of coastal paradise among the celebrities of Omaha. read more >>

Hawkes Bay remains a high rider

19 Jan 2009: Despite the economic slowdown, good tenant and investor interest in the Hawkes Bay continues to underpin the commercial and industrial property. read more >>

Kiwibank and BNZ slash home loan rates

16 Jan 2009: BNZ and Kiwibank have joined other banks in dropping their mortgage rates as two separate reports reveal the depth of the property price slump. read more >>

December real estate sales very slow; REINZ sees a comeback "not too far off"

16 Jan 2009: "December sales figures confirm what everybody knows: the residential real estate market has slipped back to where it was a few years ago." said REINZ national president Mike Elford. read more >>

Video: House sales down, Kiwi below 53 USc, ECB cuts 50bps

16 Jan 2009: REINZ and QV figures show big drop in house sale volumes. Prices in December fell, and days to sell was up. read more >>

Website gives details of all properties for house-hunters

15 Jan 2009: A property-searching website to start operating tomorrow aims to become the first stop for house-hunters. read more >>

Mortgage rates start falling again

15 Jan 2009: Fixed term mortgage rates are starting to fall again as the cost of wholesale money slides. Today, ANZ and the National Bank announced big cuts, reducing their 5 year fixed rates by up to 0.9% to 7.10%. Reductions in their 2, 3 and 4 year rates were made as well. ANZ-National has a 32% market share of New Zealand’s residential mortgages. read more >>

Mortgage rates keep falling as BNZ, Kiwibank jump aboard

15 Jan 2009: BNZ is dropping its fixed mortgage rates by between 21 and 90 basis points and Kiwibank has joined in, dropping both its fixed and floating rates. read more >>

Property values still falling, but impact of big rate cuts emerge

15 Jan 2009: New property value numbers released today show continued falls through December, but signs are starting to emerge that last year's huge interest rate cuts might be starting to make a difference. read more >>

ANZ National cuts interest rates as big OCR cut tipped

14 Jan 2009: New Zealand's largest bank, the ANZ National bank, has announced sweeping cuts to its home loan interest rates. read more >>

Could house prices fall 80%?

14 Jan 2009: If you thought our prediction that house prices would fall 30% from their peak was bad, get a load of this… read more >>

Park-buyers race to beat developers

13 Jan 2009: Nearly $60 million has been spent in an expansive phase for the Auckland regional parks network, and a falling property market means the ARC cheque book will be kept handy. read more >>

Stamford score - two sold, 147 to go

13 Jan 2009: Only two units of 149 in a $100 million upmarket apartment block on top of Auckland's Stamford Plaza have been sold. read more >>

Barfoot's volumes down 40%, prices down 9%

13 Jan 2009: Auckland’s largest real estate agents Barfoot and Thompson reported a 4.7% decline in their average sale price over 2008, and a 40% decline in average sales per month, compared to 2007. (Updated to include December 2007 figures following comments.) read more >>

Opinion: Housing bubbles and market sense

13 Jan 2009: Recently - Professor Paul Krugman of Princeton University wrote within a brief New York Times article Bubble Blindness – read more >>

Recession woes slow plan for big city centre

12 Jan 2009: Plans for one of the country's newest town centres are likely to be scaled back because of financial pressures of the economic crisis. read more >>

Auckland property prices fall 4.7 pc in 2008

12 Jan 2009: Sales figures released today by Auckland's biggest real estate company show that property prices did indeed fall last year - but not as much as many observers predicted. read more >>

Property slump hits Omaha

11 Jan 2009: It might be a holiday playground for the rich and famous, but Omaha is not immune from the property slump. read more >>

Heritage precincts win court's backing

10 Jan 2009: A four-year battle to preserve a slice of early history in inner-city Auckland has resulted in stronger heritage controls across the wider central business district. read more >>

Average household net worth plummets again

9 Jan 2009: A new report shows the net worth of the average New Zealand household fell by $14,500 in the September quarter. read more >>

Tenancy 'victory' at station

9 Jan 2009: The first tenants moved into the Railway Campus apartments yesterday signalling victory for owners facing financial ruin. read more >>

House prices - how far will they fall?

8 Jan 2009: So just how far will house prices fall this year? read more >>

Suburbs 'best buy' this year for investors

8 Jan 2009: The experts' consensus is to buy in main city suburbs with strong communities, preferably within 3km of a city centre, close to reliable public transport, and areas with population growth, water views and diversified employment. read more >>

NZ's top 10 places for families

6 Jan 2009: It's official. Windy Wellington is absolutely, positively the best place in New Zealand to bring up a family. read more >>

Sliding home values boost property returns

4 Jan 2009: Property investors this year can expect a return to the days of positive cash returns for the first time in more than five years, say market watchers. read more >>

Beauties on beachfront

4 Jan 2009: Beach-Loving Kiwis looking for a bargain slice of paradise have their choice of two jewels being offered for sale in the Bay of Islands next month. read more >>

Variable rate mortgages more popular

3 Jan 2009: All of a sudden, following the sharp drop in the OCR and floating mortgage rates, many more borrowers are converting their fixed rate mortgages to variable rate ones. read more >>

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