Property Property Property!
Property Property Property!
In this month’s monthly recap, we cannot avoid the elephant in the room – the property Market. House Prices around the country continue to trend upward, the average house price across New Zealand in November was $753,038 up 8% on the previous year* Auckland House prices are closing in on $1.1 Million, up 6% on the previous year, and First home buyer properties seem to be few and far between, given the First home buyer caps. December is generally a slower period in Real estate, so the market may see a cooling off period in the coming month.
Lending rates were relatively stable over November with no changes to OCR, the Reserve banks funding for lending program should allow some lower rates, while its now generally accepted that we will not see negative interest rates here in New Zealand.
It does seem however that house prices are very much on the radar of the both the Government and The Reserve Bank, with the recent letter by finance minister Grant Roberts letter to change the mandate of the RBNZ to include housing prices, however Reserve Bank Governor Adrian Orr, pushed back citing other government controls that could be used. Seemingly Taxation. While nothing has been released confirming any changes in Tax, we can only assume something is in the pipeline.
Note from our Lending Team:
As the banks continue to close branches, direct contact with bank staff is going to get harder and brokers are more sort after now then ever before,
Property Investors, we are still able to secure 80% lending. But this is changing daily so get in touch while you still can.
Christmas is right around the corner, and we will be available throughout, so get in touch now if you would like to get a pre approval in place to hit the ground running next year or whil everyone is on holiday. We still continue to get loans through that have been declined by the major banks, just ask we can help you on the right track and get a plan in place that works for you.
Harmoney Corp Limited, successfully listed on both the NZX (HMY.NZX) and ASX (HMY.ASX), primary listing in Australia with a foreign exempt listing here in New Zealand. The company opened at $3.70 NZD a share on the 19th of November and is now trading at $3.23
About Harmoney: Harmoney is one of the leading online direct personal lenders that operates across Australia and New Zealand, providing customers with unsecured personal loans that are easy to access, competitively priced (using risk-adjusted interest rates) and accessed 100% online.
Sky Network (SKT.nz/SKT.asx) announced it was losing its CEO this week, Martin Stewart is stepping down from the role citing Covid and continuing border restrictions, current chief commercial officer, Sophie Moloney, will step into the role with Stewart available for a 3 month period to assist with the transition.
Share price held relatively stable trading now at $0.166, continuing its predominantly flat line trend for the period from March 2020
*Housing data sourced through propertyvalue.co.nz powered by Corelogic
Disclaimer: This publication has been prepared for your general information. While all care has been taken in the preparation of this publication, no warranty is given as to the accuracy of the information and no responsibility is taken for any errors or omissions. This publication does not constitute financial or insurance product advice. It may not be relevant to individual circumstances. Nothing in this publication is, or should be taken as, an offer, invitation, or recommendation to buy, sell, or retain any investment in or make any deposit with any person. You should seek professional advice before taking any action in relation to the matters dealt within this publication. Disclosure statements relating to the financial advisers associated with this newsletter are available on request and free of charge.