Mixed market messages
Friday 26th February
Hi
This week has been a mixed bag for the property market.
Confidence remains positive, despite being down on the previous quarter and over a third of those surveyed by the ASB Housing Confidence Survey still believe now is a good time to buy a house.
The Mike Pero Mortgages/Infometrics Property Cycle Indicator showed signs of slowing improvements this week, falling slightly to 5.23 in January from 6.67 in December.
However, more up-beat on the state of the market is Bryan Thomson, chief executive of Harcourts. He’s expecting the number of sales to improve over the coming months, fuelled by a good pool of buyers and a larger volume of properties coming onto the market.
We also have the latest figures on building consents, which are still being dampened by the wider economic market.
Have a great weekend.
The Landlord
Latest News
Building consents fall for second month
New Zealand home building consents fell for a second month in January, suggesting the nation's economic recovery is still fragile as property owners fret about tax changes and the potential for higher interest rates. View More
Housing minister resigns
Housing and Fisheries Minister Phil Heatley has resigned his portfolios as a result of further discrepancies over his ministerial credit card spending. View More
Numbers on the up, says Harcourts
Sales numbers are predicted to improve over the next two months, says Harcourts' chief executive Bryan Thomson.
View More
Housing confidence still upbeat
New Zealand housing confidence is still upbeat even if it's somewhat tarnished, according to ASB economists.
View More
Housing market hits wobbles
The steadying of the housing market has dropped off and is now at its "least convincing" since June last year, according to the Mike Pero Mortgages/Infometrics Property Cycle Indicator.
View More
Blog: Two tax changes property investors could live with
Property investors have been inundated with reactionary views on what the government plans to do to them through the tax system. View More
Mortgage Rates
The week finishes on a good note with two of the more active lenders cutting rates. Westpac has dropped its one-year rate by the smallest of margins, four basis points to 6.25%, but increased its six-month rate six points to 5.75%. It also made a four point cut to its Choices Everday revolving credit loan. View more
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Diary
This weekend:
NZ Property Gurus launch their first weekend seminar - Christchurch. With an additional guest speaker, Kieran Trass.
But hurry, tickets have almost sold out.
Be sure to check out the details in our Diary page.
If you want your event to be listed please email info@landlords.co.nz
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