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REINZ residential highlights - June 2009

Thursday 9th of July 2009

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Northland
Auckland
Waikato/Bay of Plenty/Gisborne
Hawke's Bay
Manawatu/Wanganui
Taranaki
Wellington
Nelson/Marlborough
Canterbury/Westland
Central Otago Lakes
Otago
Southland

Northland

In total, 167 houses sold in Northland in June (May 2009: 177; June 2008: 108). The median price increased to $310,000 from $306,500 in May (June 2008: $302,750).

27 houses sold in the Whangarei County area (May 2009: 28; June 2008: 13). The median price rose to $420,000 from $413,500 in May (June 2008: $427,500).

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Latest Comments
Advisers embrace Westpac after trail commissions removed
Doesn't this result call into question the criticism from certain quarters that Mortgage Advisers are driven predominantly by commission considerations?
1 hour ago The Laird
FMA wants clearer fees
@first time caller - I can see the complexity you highlight, but as above, investors should be able to see what they are paying without having to reference multiple documents. Investment admin can track and report deductions for tax, withdrawals, fees et al, would be /should be straightforward to aggregate advice fees into costs at member level... at least I hope so.
1 day ago Goldcard
FMA wants clearer fees
@goldcard - how would you propose that a fund manager calculates the TER to include adviser fees given not all clients pay them and different advisers charge different fees, not to mention some advisors charge different fees to different clients? The advice fee gets disclosed in the adviser's disclosure statement and the statement of advice, so the client can add that to the published TER of the fund they are invested in to see how much they are paying overall.
1 day ago First time caller
FMA wants clearer fees
Schedule 4 of the FMCA regs 2014, particularly clauses 2(1) and 53(3) provide the basis for excluding individually charged advice fees from the statutory TER. This was introduced with the best of intentions, but now it is little more than an invisibility cloak for deductions from member accounts.
2 days ago Goldcard
Ideas for reforming KiwiSaver
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5 days ago Market Commentator