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Mortgage Rates Daily Commentary
Thursday 13 March 2025
How Heartland wants to help people buy a retirement village unit Heartland Bank is extending its reverse mortgage offering to include a kind of bridging finance for those wishing to buy a unit in a retirement village. [READ ON]
Keen demand for holiday homes
The days of the old-style Kiwi bach are numbered, with holiday homes now going for astronomical prices.
Tuesday, November 2nd 1999, 12:00AM
by Paul McBeth
Fancy a holiday home in Taupo? An English couple did and they've just paid $950,000 for a place they'll maybe visit twice a year.
The days of the old-style Kiwi bach are numbered, at least according to the latest special report from the Real Estate Institute. For those of us who remember childhood summers at the beach and hanker for our own little bach, crib or beachhouse, the report makes sobering reading. A quick tour of the country shows:
- In Taupo, the little old bach in native bush and by the waterfront will set you back $200,000 plus. The top end of the market is $600,000 to $800,000 for a holiday home and luxury properties go for at least $1.5 million.
- The Kaiteriteri beach area, near Nelson, is being carved up into subdivisions with some sections valued at $250,000 for 700 square metres.
- There are few bargains left in the Marlborough Sounds, with little going for under $100,000 in the 'Golden Mile' (Picton through to the Queen Charlotte Sound). Some don't have power and can only be reached by a 50 minute boat trip.
- In Queenstown, there's a two-tier market with mainly international buyers going for the luxury spots. Top homes here range from $1 million to $3 million, as direct flights from Sydney help push up waterfront values. However, if $120,000 is more your price range, you'll get a small apartment in central Queenstown or, if you're lucky, an older-style suburban bach.
Paul is a staff writer for Good Returns based in Wellington.
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Mortgage Rates Table
Full Rates Table | Compare Rates
Lender |
Flt |
1yr |
2yr |
3yr |
AIA - Back My Build |
4.44 |
- |
- |
- |
AIA - Go Home Loans |
6.89 |
5.25 |
4.99 |
5.35 |
ANZ |
6.89 |
5.89 |
5.59 |
5.89 |
ANZ Blueprint to Build |
7.39 |
- |
- |
- |
ANZ Good Energy |
- |
- |
- |
1.00 |
ANZ Special |
- |
5.29 |
4.99 |
5.29 |
ASB Bank |
6.89 |
5.25 |
4.99 |
5.35 |
ASB Better Homes Top Up |
- |
- |
- |
1.00 |
Avanti Finance |
7.40 |
- |
- |
- |
Basecorp Finance |
7.85 |
- |
- |
- |
BNZ - Classic |
- |
5.99 |
5.69 |
5.69 |
Lender |
Flt |
1yr |
2yr |
3yr |
BNZ - Mortgage One |
7.04 |
- |
- |
- |
BNZ - Rapid Repay |
7.04 |
- |
- |
- |
BNZ - Std |
6.94 |
5.55 |
5.29 |
5.59 |
BNZ - TotalMoney |
7.04 |
- |
- |
- |
CFML 321 Loans |
▼5.25 |
- |
- |
- |
CFML Home Loans |
▲6.95 |
- |
- |
- |
CFML Prime Loans |
▼7.45 |
- |
- |
- |
CFML Standard Loans |
▼8.25 |
- |
- |
- |
China Construction Bank |
- |
7.09 |
6.75 |
6.49 |
China Construction Bank Special |
- |
- |
- |
- |
Co-operative Bank - First Home Special |
- |
▼5.09 |
- |
- |
Lender |
Flt |
1yr |
2yr |
3yr |
Co-operative Bank - Owner Occ |
6.45 |
▼5.19 |
5.19 |
5.49 |
Co-operative Bank - Standard |
6.45 |
▼5.69 |
5.69 |
5.99 |
Credit Union Auckland |
7.70 |
- |
- |
- |
First Credit Union Special |
- |
5.49 |
5.39 |
- |
First Credit Union Standard |
7.19 |
5.99 |
5.69 |
- |
Heartland Bank - Online |
6.49 |
5.25 |
5.19 |
5.35 |
Heartland Bank - Reverse Mortgage |
- |
- |
- |
- |
Heretaunga Building Society |
8.15 |
6.35 |
6.00 |
- |
ICBC |
6.95 |
5.29 |
4.99 |
5.39 |
Kainga Ora |
6.89 |
5.29 |
4.99 |
5.35 |
Kainga Ora - First Home Buyer Special |
- |
- |
- |
- |
Lender |
Flt |
1yr |
2yr |
3yr |
Kiwibank |
6.75 |
6.09 |
6.09 |
6.39 |
Kiwibank - Offset |
6.75 |
- |
- |
- |
Kiwibank Special |
6.75 |
5.19 |
5.19 |
5.59 |
Liberty |
8.59 |
8.69 |
8.79 |
8.94 |
Nelson Building Society |
7.44 |
5.24 |
5.24 |
- |
Pepper Money Advantage |
10.49 |
- |
- |
- |
Pepper Money Easy |
8.69 |
- |
- |
- |
Pepper Money Essential |
8.29 |
- |
- |
- |
SBS Bank |
6.99 |
6.29 |
6.09 |
6.19 |
SBS Bank Special |
- |
5.39 |
5.29 |
5.35 |
SBS Construction lending for FHB |
- |
- |
- |
- |
Lender |
Flt |
1yr |
2yr |
3yr |
SBS FirstHome Combo |
4.44 |
4.39 |
- |
- |
SBS FirstHome Combo |
- |
- |
- |
- |
SBS Unwind reverse equity |
9.39 |
- |
- |
- |
TSB Bank |
7.69 |
5.99 |
5.79 |
6.19 |
TSB Special |
6.89 |
5.19 |
4.99 |
5.39 |
Unity |
6.89 |
5.29 |
4.99 |
- |
Unity First Home Buyer special |
- |
4.69 |
- |
- |
Wairarapa Building Society |
7.20 |
5.49 |
5.29 |
- |
Westpac |
6.99 |
6.09 |
5.89 |
5.99 |
Westpac Choices Everyday |
7.09 |
- |
- |
- |
Westpac Offset |
6.99 |
- |
- |
- |
Lender |
Flt |
1yr |
2yr |
3yr |
Westpac Special |
- |
5.49 |
5.29 |
5.39 |
Median |
6.99 |
5.44 |
5.29 |
5.49 |
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