Christchurch City councillors have this morning adopted a landmark draft plan for the rebuild of the quake-hit central city and will open it for public consultation. The plan is expected to cost about $2 billion. Light rail, a smaller central business district (CBD) and a new swimming centre are among features of the draft plan adopted…
Category: The Market
rebuildchristchurch.co.nz
I am sorry for the lack of content that I have been posting on this blog for the past 12 months. The reasons for this are a number of things. Firstly I left the real estate and housing industry full time and only kept this blog website up for the pure passion I have for…
Real Estate Bosses Talk About The Real Estate Market
The property market last year left a lot of amateurs and professionals scratching their heads in puzzlement as the expected failed to happen. Real estate agency heads give their reading of the housing market in the first quarter of 2011 – their predictions cautious but optimistic, with rising rental prices seen as a positive indicator…
RBNZ Holds OCR at 3%
Householders such as myself with mortgages partly floating will be happy at the news today that the OCR is unlikely to be jumping up a huge amount over the next two years. This means that we are likely to see maybe .5 – 1% increase this year and maybe the same next year as the…
2010 QV Market Round Up
I wish to say that 2010 has been a challenging year for most people in Christchurch. What is for most people the biggest asset they own the Canterbury Earthquake of September 4th Damaged many to a point where it starts to hurt peoples wealth which makes it hard for anyone to move forward with real…
New Zealand Real Estate Sales Volume at Record Lows.
Real Estate in NZ is very very slow still with both record low sales and the medium price dropping by 1% in the last quarter. The big issues have been the Canterbury Earthquake and the general slow up of the economies recovery. The Real Estate Institute of New Zealand (REINZ) has reported 3903 properties were…
Reserve Bank of New Zealand Hold OCR a 3.0%
The Official Cash Rate has this morning been left on hold by the Reserve Bank at 3 per cent. Such a hold was widely expected, with market economists all but unanimous that Reserve Bank Governor Bollard will not raise the official cash rate again until March next year. The average expectation among 11 forecasters polled…
Christchurch Earthquake Pictures
for the most up to date pictures visit rebuildchristchurch [nggallery id=4] Christchurch after 4 days of cleaning up after New Zealands Largest and most widly destructive earthquake. After day 4 All the best and I hope if your home is destroyed or damaged, like ours, that you get it fixed safely and timely and wish…
Will The Real Estate Market Spring Into Action This Spring?
Spring is typically the key season for real estate but untimely headwinds this year will make for a weak property market. Property prices are expected to track sideways at best this spring, with an expected influx of new listings on the market, allowing buyers plenty of time to smell the roses, according to analysts. The…
Personal Debt Finally Starts To Hit Home!
I have just read an article that I think is very valid to share on my blog. It gives an insight of the state this country is in financially and its not a pretty picture. Recently I have just helped my mom out because of a bad debt and bought half their property. During the…
Tax Cuts For All – A GST Rise & Property Investors Hit Hard With New Tax Laws!
The New Zealand Budget 2010! For most of us this is something that we have been looking to for a while now. There has been plenty of hype running around this years budget and the cat has now been let out of the bag. Property tax has been hit hard with quite an increase and…
this generation will change everything
As you know I really believe in the Generations and their relevance to how and what they purchase. When it comes to Real Estate this is particularly important because you need to identify which property would suit a certain type of person and then from there you need to work out the way that you…
What are the economic factors that affect mortgage rates?
This is an article that is something that will hopefully help you more understand why the dam interest rates go up or down, usually we only complain when they go up, as this directly costs us more money. Although written with a slight US feel, with the words federal, the principles are the same which…
Property Property Property – The Market's Gone Mad
The Breaking News story today is about property again. Seems like lately everything is about property property property. Today’s headline states Property sales plunge in January – January house sales worst in nearly two decades… Sounds terrible doesn’t it! This story is quite a different picture that was being painted last month when the authorities…
New Zealand Real Estate Prices Are Reaching Silly Levels Again
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Financial Planning For A Safer Future
The fact of todays market means we all need to all be careful with all our money. A few years back when I had too much time on my hands I got hold of a good friend of mine and started to produce some material to help people save money and outline steps for buying…
Mortgagee Sales Are Still Up…. Money Is Still Tight… What Does Mortgagee Mean
Mortgagee Sales now account for 4% of all house sales. This is a disturbing statistics. It is horrifying to think that 1 in 25 houses selling on the market today are mortgagee sales. For statistics Regional towns across New Zealand are feeling the squeeze as mortgagee sales hit another historic high in September, according to…
Do You Need To Sell Your House Now?
Selling your house in a market where there is a very stiff competition with other properties is incredibly a tough thing to do. You need to ask yourself the question. Why am I selling? If you want to sell then prepare for it and if you need to sell then prepare for that as well….
New Zealands Housing Market – It Could Be In For A Shock!
Why is the Real Estate market showing signs of recovery? The simple answer is there must more buyers out their buying up property. Consumer confidence has jumped to a four-year high, business confidence to a 10-year high. House prices have been rising since February. So are happy days here again? I feel this optimism is built…
Christchurch Real Estate Market pdate From August 2009
Christhchurch Property Trends Property values in Christchurch declined by 1.9% over the past year (calculated over the three months ending August 2009 in comparison to the same period last year), a substantial improvement on the 5.5% annual decline reported in July. The average sale price for the city increased slightly from to $342,993 to $344,401….
The Dilemmas Of An Aging Population
We all know how the Baby Boomers Generation those people born post WW2 1956-1964) have affected everything they touch as they have moved up the age pyramid (the pig in the python!) creating markets for products that previously didn’t exist and bringing much wealth to the smart marketers and service providers who could read the trends….
Cant Pay The Mortgage – You Will Lose Your Home!
New Zealand is in a terrible position in terms of the real estate market. People have been over spending in the last few years as explained in the previous post. But this is about to come to head. The financial hard times are starting to catch up with us and this will be starting to hurt…
New Zealanders Are Struggling To Hold Onto Their Investment Properties.
‘Buy a few investment properties. The rent will pay the mortgage, then later you can enjoy the capital gain’. Well – it seemed a good idea at the time. But the current recession is bringing things home to roost for many who speculated on property in the years leading up to 2007. Unprecedented numbers of…
New Zealand June Property Review
PROPERTY VALUES INCREASE AS THE MARKET seems STABILISES FURTHER The QV national residential property indices for June released today show a 7.1 per cent decline in property values over the last year. This is a further improvement on the 8.1 per cent annual decline reported last month, and reflects continued stabilisation of the property market….
New Zealand Housing And What May Be To Come
A snapshot of what is and what may be to come. A looming demand for new dwellings and a predicted spring sales recovery are just some of the hopeful signs emerging for the housing sector this week. The sector, picked by some to be hammered by a 30 per cent chop, is giving off mixed…
Increased Population + Less Housing = A Ahousing Shortage
This is yet more signs from the media and agents telling of a housing recovery. A housing shortage looms as migration leaps and house-building halves. Property experts say increased demand is likely to boost house prices, especially in Christchurch. The real estate slump, the credit crunch and the recession have pushed home-building to 54 per…
Mortgagee Sales In New Zealand Are Steadily High
Aucklanders hit hardest as forced property sales quadruple Mortgagee sales in Auckland are the highest in New Zealand, with more than four times as many forced sales than a year ago. The sheer volume of residential housing in the city, high median house prices and people being laid off are being cited as factors in…
New Zealands Economy Still Shrinking Deeper Into A Recession
New Zealand’s economy shrank for a fifth consecutive quarter in the three months to March and recorded its first annual decline in economic activity since 1992. Figures published by Statistics New Zealand (SNZ) today show gross domestic product fell 1 per cent in the March quarter, following a revised fall of 1 per cent in…
The Wave Of The Real Estate Cycle
The real estate market has been rising nationally the last few years and the media went hog wild over the frenzy and everywhere you looked there was someone or something telling you that real estate was HOT HOT HOT! Prices were going through the roof and there was unprecedented growth and people were becoming multi-millionaires…
June an July Real Estate Market Thoughts
June and July are usually very quiet months but what a difference in levels of stock this year compared with last! Here’s my take on it from a buyers and sellers point of view and then my own summary of what I think will happen – would appreciate everyone elses thoughts on what the future…