Property Prices Continue to Grow
The property market continues to be very active, and prices in Auckland and Christchurch particularly have shown continued strong growth.
I don’t see any likely slowdown in property prices, particularly in Auckland. Property prices are determined by supply and demand, and whilst there are now more houses being built, the demand continues to grow.
Demand for property is largely driven by immigration numbers, and we are currently at record high levels of immigration. The New Zealand economy is very strong, and that is encouraging people to come here, not just new immigrants but Kiwis returning from working overseas; at the same time, fewer Kiwis are heading away.
So my outlook on property is that we’ll continue to see prices rising. If you already own property, I encourage you to hold onto it. If you are looking to buy, you should do so now, as prices will be higher down the track.
We are happy to meet with you to determine whether you are able to purchase property – if you’d like to meet just call or email and we’ll set up a time. – Kerry Alcock.
Insurance – Introducing Matthew Lewer
We have always provided advice on personal risk insurance, and we have now employed Matthew Lewer as a specialist Insurance Adviser. Matt will look after insurance for new and existing clients, so if Aim Financial Services is your current insurance adviser, Matt will shortly be in touch to introduce himself.
If you would like to discuss insurance with Matt, just email on email@example.com
Interest rates are definitely on the rise. We’ve seen some increases during 2014 and the Reserve Bank have made it clear that more increases are to come. The banks are offering discounts however, so If your mortgage is currently on a floating interest rate, or your fixed rate is due to expire, you should contact us and we’ll seek a discount for you.
LVR’s and Low Deposit Loans
You may recall the intervention by the Reserve Bank to limit the amount that banks can lend on property – this intervention was called the LVR restrictions. All banks are now actively lending up to 90% on property, so if you’ve been holding off purchasing to try to increase your deposit, give us a call and we’ll see if you qualify for a low-deposit loan.
Mortgages – introducing April Shen
April has recently joined our team as an Associate Mortgage Adviser. April will work on a part-time basis while she completes her studies for a Bachelor of Property degree.
April speaks Mandarin and English and is happy to assist anyone intending to buy property, or wishing to refinance their existing mortgage.
If you would like to discuss mortgages with April, just email her on firstname.lastname@example.org.