Are you planning on buying your first new home? Recent news has shown us through a survey that the proportion of first-home buyers has consequently been declined in most of the main centres mainly due to the fact that mortgage-lending restrictions came in six months ago. Surprisingly, of the 22 areas surveyed by property data […]
This Week on the Auckland Mortgage Market
Lake Rd Investments: They Have Much to Offer On mortgages this week, a multifunctional property in Northcote is up for sale as a part of Bayleys latest Greater Auckland portfolio. This particular property, given its mixed used nature, can potentially offer investors a great opportunity to spread their potential risks across multiple tenancies. This property […]
Mortgage Rates Likely To Rise Again
Mortgage Trust Wins $3.1 Million Case In this weekís news on mortgage, an Auckland mortgage trust has won a court case which resulted in the trust winning $3.1 million. This case claim was against a company part-owned by a bankrupt property developer who also has recently invested in a failed gulf resort in the Bay […]
John Key Denies House Price Inflation
In this weeks mortgage news, there is much news on rising house prices. Prime Minister John Key has promptly his weekly post-cabinet news conference to justify his Government’s record on housing affordability in the wake of an OECD report showing Kiwi housing was the most expensive in the OECD relative to rents. This was particularly […]
Auckland House Prices Rose $369 Daily During June
Auckland property owners are benefiting from an average monthly rise in sale price of $11,088 or $369.60 each day during June, according to Barfoot & Thompson. But while the second highest average sale price on record of $714,054 may cause financial discomfort for some home buyers, it was caused by an increase in sales of […]
Rise In Parents Becoming Guarantors For First Home Buyers
Auckland and Christchurch mortgage lenders have seen a rise in the number of parents approaching and asking how they can help their children purchase their first home. As house prices in these metropolitan areas continue to rise, first home buyers are finding in increasingly hard to take that first step and are seeking out other […]
Auckland Property Sales and Prices Rise Again
As the election fades behind us, Auckland property buyers and sellers are stepping out into the market and once again showing the popularity in Auckland’s property market. With the median house price having risen up 11.3 percent from this time last year to $691,500, economists are crediting the post-election Auckland property boom to low fixed […]
Are Apartments The Future Of Auckland Housing?
Rising house prices continue to leave people out of the housing market, but Harcourts Chief Executive Hayden Duncan suggests that apartments may just solve the problem. Having described Auckland as the problem child of the housing market, Duncan says that building up rather than out is the way forward. With July’s average Auckland property price […]
Auckland Apartment Buyers Horrified With Purchase
Aucklander Pietta Collins has cancelled her contracts for two one-bedroom apartments in New Lynn’s Merchant Quarter apartment tower after seeing her completed apartments. Pietta and her husband recently had their final purchase inspections and found that structural pillars were built into the lounge and bedroom of both apartments. Vendor and Purchaser Disagree Apartment buyer Pietta […]
Lower Deposits Needed For New Builds Spark Building Boom
The introduction of the loan-to-value (LTV) restrictions placed on banks when considering new leaders hit New Zealand hard. But the relaxation of the LTV ratio for those who want to borrow for a new build has seen a boom in the number of new subdivisions in Auckland. The south and west city fringes of Auckland […]