Prime Minister Luxon Considers New Taxes amidst Financial Pressures, Confirms Details in May Budget
Key Facts Prime Minister Christopher Luxon hints at potential new taxes as the Coalition Government faces fiscal challenges. The government is reportedly over $5 billion short compared to the National’s…
Interest Deductibility Rules Reinstated: Impact and Predictions for NZ Housing Market
Key Facts The Government is reintroducing the interest deductibility rules that were phased out by the previous Labour government. The interest deductibility rule allows property investors to deduct the interest…
ASB Trims Home Loan Interest Rates for Third Time in Three Weeks
Key Facts ASB has announced a third round of reductions to some of its fixed home loan interest rates. No new market-leading levels were established with these cuts, aimed mainly…
ASB Cuts Mortgage Rates for the Second Time in a Week, Matches Major Banks
Key Facts ASB has dropped their one-year home loan rate by -10 basis points to 7.29%, and its two-year lending rate has been trimmed -4 bps to 6.85%. They’ve also…
ANZ Offers Competitive One-Year Fixed Rate and Reduces Term Deposit Rates
Key Facts ANZ has lowered its home loan rates in response to competitors offering lower rates. The bank’s one-year fixed rate, now sitting at 7.24%, is currently the lowest on…
Rising Mortgage Rates Pressure New Zealand Homeowners as Residential Listings Surge
Key Facts The cost of living crisis is causing discomfort among Kiwis with mortgages due to current rate levels. Realestate.co.nz reported that there were 11,788 new residential listings in February,…
Non-Performing Housing Loans in NZ Reach a 10-Year High Amid Rising Mortgage Stress
Key Facts Non-performing housing loans in New Zealand increased more than 10% in the past month and has now reached a 10-year high. Reserve Bank (RBNZ) reports shows that non-performing…
New Zealand Home Values Continue to Rise, but at Slowing Pace, warns CoreLogic
Key Facts The average value of New Zealand homes increased to $930,495 at the end of February, up from $928,184 in January and $924,489 in December 2023. The rate of…
High Mortgage Rates and Low Sales Keep NZ Housing Market Steady, Prices Rising Slowly.
Key Facts The New Zealand residential housing market is stable, with high mortgage rates and low sales volumes. Property researchers CoreLogic indicated a slight increase of 0.3 percent in home…
Reserve Bank Retains Official Cash Rate at 5.5% Amid Expectations of Eventual Drop
Key Facts The Reserve Bank maintains the official cash rate (OCR) at 5.5 percent. The OCR influences the borrowing costs for lenders and thus affects mortgage rates. Keeping the OCR…
First Home Buyers Paying Less for Homes as Low Equity Lending Increases
Key Facts The average amount paid by first home buyers in New Zealand for a house in January 2024 was $656,557, a decrease by $16,784 or 2.5% since December 2023.…
Reserve Bank Data Shows First Home Buyers’ Share of Mortgage Money at High Levels While Investor Share Increases Slightly in January 2024
Key Facts The housing market saw a 23% year-on-year rise in mortgage advances for January 2024, despite the comparison to January 2023’s figures being one of the lowest monthly tallies…
NZ’s Housing Minister Proposes Zoning Changes, Infrastructure Funding, and Incentives to Tackle Housing Crisis
Key Facts Housing Minister Chris Bishop is advocating for more land to be rezoned in order to increase the number of homes in New Zealand. The “housing trifecta” policy proposal…
Reserve Bank’s Decision on Official Cash Rate: Anxiety High Among Mortgage Holders amidst Rising Living Costs
Key Facts Economists cannot agree on whether mortgage rates have reached their peak, causing anxiety among home owners. Westpac expects the official cash rate (OCR) to stay at 5.5%, while…
ASB Cuts 18-Month Fixed Home Loan Rate, Offering Lower Rates Than Main Rivals
Key Facts ASB Bank has reduced its 18 month fixed home loan rate by 26 basis points, bringing it down to 6.89%. The new rate is now lower than other…
Upcoming Official Cash Rate Decision Could Impact NZ Housing Market: Insights From CoreLogic’s Chief Economist
Key Facts The Official Cash Rate (OCR) decision is expected on Wednesday, with an uncertain outcome. While many economists do not anticipate changes, ANZ suggests potential rises. Although inflation is…
Improved Affordability for First Home Buyers as Lower Quartile House Prices and Mortgage Rates Decline
Key Facts Lower house prices and declining mortgage interest rates have resulted in increased affordability for first home buyers in most parts of the country in January 2024. The national…
BNZ Reduces Fixed Home Loan Rates Amid Doubts Over RBNZ OCR Review Outcome
Key Facts BNZ has lowered its fixed home loan rates; variations range from -4 bps to -20 bps. Economists at ANZ suggest an increase in the Official Cash Rate (OCR)…