|
|
Mortgage Rates Daily Commentary
Wednesday 5 June 2024
Non-performing housing loans up, monthly mortgage arrears down; Which bank is winning the lending race The Reserve Bank April figures show non-performing housing loans rising by $137 million to $1.9 billion. [READ ON]
Jenny Ruth digs into the latest Reserve Bank data to find how which banks are writing the most home loans. [See here]
[PROMO] Join the Strong in Six EOS Workshop for Financial Service Businesses!
Throughout this program, we will address the key challenges prevalent in your industry, delve into the concept of 'hitting the ceiling,' and provide strategies to effectively overcome these limitations, thereby facilitating the attainment of your desired success.
In today's fast-paced and ever-changing business landscape, it's crucial to stay ahead of the curve and proactively position your organization for success.
Learn how to use EOS in your business to get Strong in Six and get what you want from your business! [Check out the details]
Buoyant Auckland market leads house prices up
The housing market remained remarkably buoyant in July, usually a slow month, with strong volumes and the median house price notching up a new record, the latest Real Estate Institute sales figures show.
Wednesday, August 20th 2003, 10:32PM
by Jenny Ruth
The housing market remained remarkably buoyant in July, usually a slow month, with strong volumes and the median house price notching up a new record, the latest Real Estate Institute sales figures show.
They also suggest a ratcheting up in house price inflation.
The national median house price rose from $210,000 in June to $211,250 in July which was a 14.2% increase from the $185,000 median price in July last year.
There were 10,138 houses sold in July, up from 9,790 in June and 7,795 in July last year.
"These strong volumes tend to underwrite the national median sales price growth and tell us that the overall market is growing as a result of strong recent immigration and new dwelling construction, says real Estate Institute president Graeme Woodley.
"Clearly, there is still a gap between demand and supply which goes back to economic and population growth."
The median price rose in July from June in all regions but Nelson/Marlborough and Southland and the median price in all 11 regions was up from July last year.
Compared with June, activity rose in all regions but Auckland, Taranaki and Nelson and, compared with July last year, Nelson was the only region to see a fall off in sales.
In the key Auckland region, while the number of sales eased slightly from 3,579 in June to 3,570 in July, the median price climbed from $289,000 in June to $298,000 in July and was 15.1% higher than in July last year.
"Auckland continues to be something of a barometer of the economy and there are certainly pockets within the overall Auckland figures which indicate the growth in values and volumes is unabated," Woodley says. In Auckland City, the median price was up 34.3% on a year ago.
While the median price in Nelson/Marlborough slipped from $219,000 in June to $212,500 in July, that was still 36.2% higher than in July last year.
"We continue to have a low interest rate environment and although there are signs that rates could begin to firm, this is giving homeowners the confidence to buy," Woodley says.
-
REINZ PROPERTY MARKET
REPORT
-
TOTAL DWELLINGS MEDIAN PRICE
COMPARISONS FOR JULY 2002-2003
REGION |
JULY 02 |
JUNE 03 |
JULY 03 |
Northland |
141,500 |
168,000 |
175,000 |
Auckland |
259,000 |
289,000 |
298,000 |
Waikato/BOP/Gisborne |
167,000 |
176,000 |
177,000 |
Hawkes
Bay |
138,000 |
150,000 |
158,000 |
Manawatu/Wanganui |
99,000 |
107,750 |
111,000 |
Taranaki |
111,000 |
125,000 |
130,000 |
Wellington |
205,000 |
220,500 |
237,000 |
Nelson/Marlborough |
156,000 |
219,000 |
212,500 |
Canterbury/Westland |
141,000 |
159,500 |
165,000 |
Otago |
106,750 |
124,000 |
132,750 |
Southland |
76,000 |
108,000 |
98,000 |
NZ
Total |
$185,000 |
210,000 |
211,250 |
Commenting is closed
|
|
Mortgage Rates Table
Full Rates Table | Compare Rates
Lender |
Flt |
1yr |
2yr |
3yr |
AIA - Back My Build |
6.19 |
- |
- |
- |
AIA - Go Home Loans |
8.74 |
7.14 |
6.75 |
6.39 |
ANZ |
8.64 |
7.74 |
7.39 |
7.25 |
ANZ Blueprint to Build |
7.39 |
- |
- |
- |
ANZ Good Energy |
- |
- |
- |
1.00 |
ANZ Special |
- |
7.14 |
6.79 |
6.65 |
ASB Bank |
8.64 |
7.14 |
6.75 |
6.39 |
ASB Better Homes Top Up |
- |
- |
- |
1.00 |
Avanti Finance |
9.15 |
- |
- |
- |
Basecorp Finance |
9.60 |
- |
- |
- |
Bluestone |
9.24 |
- |
- |
- |
Lender |
Flt |
1yr |
2yr |
3yr |
BNZ - Classic |
- |
7.14 |
6.79 |
6.65 |
BNZ - Green Home Loan top-ups |
- |
- |
- |
1.00 |
BNZ - Mortgage One |
8.69 |
- |
- |
- |
BNZ - Rapid Repay |
8.69 |
- |
- |
- |
BNZ - Std, FlyBuys |
8.69 |
7.74 |
7.39 |
7.25 |
BNZ - TotalMoney |
8.69 |
- |
- |
- |
CFML Loans |
9.45 |
- |
- |
- |
China Construction Bank |
- |
7.09 |
6.75 |
6.49 |
China Construction Bank Special |
- |
- |
- |
- |
Co-operative Bank - First Home Special |
- |
6.79 |
- |
- |
Co-operative Bank - Owner Occ |
8.40 |
6.99 |
6.79 |
6.65 |
Lender |
Flt |
1yr |
2yr |
3yr |
Co-operative Bank - Standard |
8.40 |
7.49 |
7.29 |
7.15 |
Credit Union Auckland |
7.70 |
- |
- |
- |
First Credit Union Special |
- |
7.45 |
7.35 |
- |
First Credit Union Standard |
8.50 |
7.99 |
7.85 |
- |
Heartland Bank - Online |
7.99 |
6.89 |
6.55 |
6.35 |
Heartland Bank - Reverse Mortgage |
- |
- |
- |
- |
Heretaunga Building Society |
8.90 |
7.60 |
7.40 |
- |
HSBC Premier |
8.59 |
- |
- |
- |
HSBC Premier LVR > 80% |
- |
- |
- |
- |
HSBC Special |
- |
- |
- |
- |
ICBC |
7.85 |
7.05 |
6.69 |
6.59 |
Lender |
Flt |
1yr |
2yr |
3yr |
Kainga Ora |
8.64 |
▼7.74 |
▼7.35 |
▼6.99 |
Kainga Ora - First Home Buyer Special |
- |
- |
- |
- |
Kiwibank |
8.50 |
7.99 |
7.79 |
7.55 |
Kiwibank - Offset |
8.50 |
- |
- |
- |
Kiwibank Special |
- |
6.99 |
6.79 |
6.65 |
Liberty |
8.59 |
8.69 |
8.79 |
8.94 |
Nelson Building Society |
9.00 |
7.65 |
7.25 |
- |
Pepper Money Advantage |
10.49 |
- |
- |
- |
Pepper Money Easy |
8.69 |
- |
- |
- |
Pepper Money Essential |
8.29 |
- |
- |
- |
Resimac - LVR < 80% |
8.84 |
8.09 |
7.59 |
7.29 |
Lender |
Flt |
1yr |
2yr |
3yr |
Resimac - LVR < 90% |
9.84 |
9.09 |
8.59 |
8.29 |
Resimac - Specialist Clear (Alt Doc) |
- |
- |
8.99 |
- |
Resimac - Specialist Clear (Full Doc) |
- |
- |
9.49 |
- |
SBS Bank |
8.74 |
7.74 |
7.29 |
6.59 |
SBS Bank Special |
- |
7.14 |
6.69 |
5.99 |
SBS Construction lending for FHB |
- |
- |
- |
- |
SBS FirstHome Combo |
6.19 |
6.14 |
- |
- |
SBS FirstHome Combo |
- |
- |
- |
- |
SBS Unwind reverse equity |
9.95 |
- |
- |
- |
Select Home Loans |
9.24 |
- |
- |
- |
TSB Bank |
9.44 |
7.79 |
7.55 |
7.45 |
Lender |
Flt |
1yr |
2yr |
3yr |
TSB Special |
8.64 |
6.99 |
6.75 |
6.65 |
Unity |
8.64 |
6.99 |
6.79 |
- |
Unity First Home Buyer special |
- |
6.55 |
6.45 |
- |
Wairarapa Building Society |
8.60 |
6.95 |
6.85 |
- |
Westpac |
8.64 |
7.84 |
7.35 |
6.99 |
Westpac Choices Everyday |
8.74 |
- |
- |
- |
Westpac Offset |
8.64 |
- |
- |
- |
Westpac Special |
- |
7.24 |
6.75 |
6.39 |
Median |
8.64 |
7.19 |
7.27 |
6.65 |
Last updated: 6 June 2024 9:31am Previous News
-
Thursday, September 28th, 9:00AM
RBNZ announces OCR decision
-
Tuesday, August 1st, 11:19AM
SBS eyes partnership with mortgage advisers
-
Thursday, June 22nd, 9:00AM
OCR held again - here's what RBNZ had to say
-
Thursday, May 11th, 10:26AM
Surprise at RBNZ’s OCR outlook
-
Thursday, May 11th, 9:00AM
No change to OCR: What RB said today
-
Monday, May 8th, 6:00AM
Focus on tone, not content, of OCR call this week
-
Tuesday, May 2nd, 11:10AM
ANZ half-year profit jumps
-
Monday, April 24th, 10:23AM
Local flavour makes for bank winners
MORE NEWS»
News Bites
Compare Mortgage Rates
Find a Mortgage Broker
|
|
|