2023 Review & 2024 Prediction (2/2) The property market saw massive changes last year, and it is expected some highs and lows in 2024 as well. 2024 started with a new coalition government that adjusted some legacy labour government laws in the first 100 days. In general, the property market situation is expected to change. No […]
How long should I fix my mortgage? A lot of people asking me how long should I fix my mortgage. What is the prediction on interest rate short term and long term? Here are my answer to these questions: First of all, this is general advice & here is my disclaimer. The decision of how […]
2022 Review & 2023 Prediction (2/2) The property market saw massive changes last year, and it is expected there are a lot of highs and lows in 2023 as well. 2023 started with an unexpected flood in Auckland, will follow by RBNZ planned economy slowdown (maybe recession) and then the election. No need to say […]
2022 Review & 2023 Prediction (1/2) 2022 will end, and the property market saw massive changes during this year. I predicted the most 10 important events in 2022 last year. Let’s review it and see what happened: Interest increase: Everybody knew the interest rate will increase in 2022, my prediction was 5% or higher but […]
CCCFA Update The new CCCFA rules came to effect on 1 December 2021 which heavily impact the property market in the last 8 months. The government made some changes and clarifications in July which may impact borrowers. The key changes are as follows: Clarifying that when borrowers provide a detailed breakdown of future living expenses […]
What is the best time to buy a property? A lot of people ask me what the best time is to buy a property? When are we expecting the lowest prices in the property market? Should I buy it now or postpone it to the end of this year or next year? The simple answer […]
First Home Buyer Cheat Sheet It’s been a hard time lately if you’re a New Zealand first home buyer. Price rose by 31% then CCCFA was introduced and now interest rates are rising, making it more difficult for first home buyers to jump the property ladder. Here are some support & suggestion that may help you […]
RBNZ Goes Hard and Fast While I was busy helping my clients buy awesome properties, there was a continuous change in the market, here is some update. Annual inflation was at 5.9% in the December quarter and it is expected to peak at around 7% in the first half of 2022. While inflation is above target and employment […]
2022 Prediction Happy new year. The property market saw massive changes during last year, it is expected there is a lot of high and low in 2022 as well. No need to say high and low create opportunities for people who are in the market, ready and know what going to happen. Let’s start the […]
2021 Review 2021 is going to end and the property market saw massive changes during this year. I will summarize the most 10 important events in 2021 in this post and predict 10 things that may happen in 2022 in the next post. I want to highlight again if you have the knowledge, plan, strategy […]
CCCFA Explained If you talked with a bank or mortgage broker recently, you may be heard about CCCFA.The Government has made some changes to the “Credit Contracts and Consumer Finance Act (CCCFA)”. Let’s see what is an impact on bank lending and the property market. The bill was royal assent on 19 December 2019 (convert […]
OCR Increased, did you miss the chance? If you missed the opportunity from early October 2021 to check your mortgage structure and how much interest rate you are paying and you will pay in the next 1 to 3 years, your options are much limited today. The current window will be closed very soon here […]
Where Is My Wealth? I was reading a report today which highlight that “Wealth from housing has increased about $400bn in the past two years. Meanwhile, housing debt has increased to $325bn from $280bn pre-lockdown last year”. In summary, New Zealanders are wealthier $355bn from last 2 years (400-(325-280)=355). I encourage you to read this […]
Finance Update There are 2 new announcements today by BNZ & Westpac which I want to explain further in this week post. Both of them are key lenders and their decisions may impact the market. BNZ BNZ announce with immediate effect that it will not lend more than 6 times the applicant income. This […]
Option A From 1 Nov. 2021 I highlighted in a previous communication [Be Quick, Banks Changing Regulation] & [Option A or B] RBNZ (Reserve Bank of New Zealand) is looking for a way to reduce the number of first home buyers to control house price which is increasing day to day. RNBZ announce today option A selected but implemented […]
Interest Rates A lot of people ask me questions about if interest rates go up, if property prices drop or if rent increase in future and how much. Today I will talk about interest rates and in the next 2 weeks, I will share with you more info about property price and rent. Let’s share this blog If you […]
Option A or B? I highlighted in a previous email 8 August [Be Quick, Banks Changing Regulation] RBNZ (Reserve Bank of New Zealand) is looking for a way to reduce the number of first home buyers to control house price which increasing day to day. Now RBNZ consulting with a wider community to implement option A or B. Option […]
Be Quick, Banks Changing Regulation RBNZ (Reserve Bank of New Zealand) recently announced a new guideline to banks which may impact first home buyers. If you are in process of buying your first home and your initial deposit is limited maybe it is a good idea to fast track your purchasing process and use the current […]