News articles

Home sales recover in January as listings lag

15 Feb 2012: New Zealand home sales climbed by more than a quarter in January from the same month last year as the market gradually recovers momentum after an extended lull. The number of sales rose 25 percent to 4,073 last month from January 2011, when it recorded its worst month ever, and was down 7.4 percent from December, according to Real Estate Institute data. read more >>

ANZ National bank cuts fixed mortgage rates

14 Feb 2012: ANZ and its sister bank National yesterday cut the rate on their one year mortgage by five basis points to 5.65 per cent, bringing it into line with their 6 month rate of 5.65 per cent, which is unchanged. This rate is slightly below their variable rates of 5.74 per cent. read more >>

Are NZ banks about to raise interest rates?

14 Feb 2012: ANZ and Westpac announced increases in their floating mortgage rates in Australia on Friday, even though there had been no change in the Official Cash Rate. They argued the cost of their foreign borrowings had increased substantially and they needed to pass this cost on to customers. read more >>

Strong property sales but prices lower

7 Feb 2012: Auckland's biggest real estate agency recorded its strongest January in four years but prices were still down on December. read more >>