Landlords across Auckland are raising the rent of their properties because of the large rates rise expected next year. With Auckland Council having acknowledged that rates will most likely rise, landlords have to decide whether to cover the cost themselves or pass it onto their tenants. Rising mortgage interest rates, property rates and insurance premiums […]
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Auckland’s Special Housing Areas Offer More Housing Opportunities
Housing Minister Dr Nick Smith and Auckland Mayor Len Brown have announced a fourth Special Housing Area (SHA) will be made available Auckland wide, opening up more land for housing developments. Papakura and its unused golf course form one of the new 17 tranches of the SHA and will offer a place for about 350 […]
How To Decide If You Should Fix Or Float Your Mortgage
Applying for a mortgage can be challenging, especially if you have never done it before. The best thing to do is to talk to someone who knows all the ins and outs of the process, such as a mortgage broker. Not only can they help explain the process, but they will also work towards getting […]
How To Decide If You Should Fix Or Float Your Mortgage
Fix or float? It’s always the big question asked by borrowers of their banks or financial advisors. But the best way to find out is to do the research yourself and make your own decision. Since the Reserve Bank started keeping the Official Cash Rate the same, financial advisors, banks and economists have been predicting […]
Generation Y Maybe Out Of Property Race
Generation Y have been dubbed the Property Orphans thanks to the LTV ratio introduced last year by the Reserve Bank. With 20% deposit required for up to 80% of new mortgages, Generation Y individuals and couples are reprioritising their saving and spending habits and saving for a deposit does not seem to be one of […]
Small Deposits Need Not Mean No Property Purchases
As prices continue to rise, new buyers continue to save for the magic number needed to place a deposit on their dream home. Unfortunately for many, the magic number keeps rising higher to follow the property prices. So what can you do if you have been saving for a home for ages, but still can’t […]
Buy Investment Properties To Reap Benefits Of Rent Rises
Rents are set to rise nationwide thanks to National’s policy of selling off New Zealand’s state housing. Following on from the asset sales of power companies, state houses are the next asset on the chopping block. While this is bad news for renters, owners of investment properties are set to receive higher rents because rented […]
Are You Paying Too Much For Your Mortgage?
Many home owners may now be paying a higher interest rate on their mortgages than they need to be and don’t realise they may now be eligible for a cheaper rate. This is because they took out their mortgage with less than 20% equity, but recent property valuations (particularly in Auckland) have sent property values […]
Are You Paying Too Much For Your Mortgage?
Many home owners may now be paying a higher interest rate on their mortgages than they need to be and don’t realise they may now be eligible for a cheaper rate. This is because they took out their mortgage with less than 20% equity, but recent property valuations (particularly in Auckland) have sent property values […]
Trouble Ahead If Auckland House Prices Bubble Bursts
Auckland house prices have risen 23% since 2011, making it extremely difficult for first home buyers to get a foothold in the property market. Even though this is causing headaches for them, the Reserve Bank and real estate agents, the real concern is that this super high price bubble may burst and consequently affect the […]