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 […]
2023 Review & 2024 Prediction (1/2) 2023 was finished, and the property market saw massive changes during this year. I predicted the 10 most important events in 2023 last year. Let’s review it and see what happened: Interest rates: RBNZ will increase OCR another 0.5~1% in the next 6 months. Then potentially 1 year fixed rate […]
Election & Property The New Zealand election is on 14 Oct. 2023 and as usual election has an impact on the property market. Usually, 3~6 months before the election property market slows down due to both buyers and sellers waiting on the election result. In other words, people postpone their decisions until after the election. […]
Market Update August 2023 After a while, I was so busy helping my clients buy or sell the property (including buying for myself), let’s review the property market. To summarize market change and price reduction now convert slightly to a price increase (about a 0.5% increase per month in part of Auckland). If you were […]
Right Property To Invest In (1/5) Choosing the right property to invest in can be a complex process that requires careful consideration and research. In this post and the next couple of posts, I will explain what is important when you buy an investment property. First-home buyers or people who buy property to live in […]
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 […]
4+2 Reasons Why You Need To Buy New Build Property NOW One of the key decision people make when buying property is to buy an existing property or to buy new build property. Sometimes as a First Home Buyer (FHB) or an investor you are forced by the bank to buy newly built property as […]
Save $300K When You Buy Your Next Property Buying a family home is the biggest investment families are doing in New Zealand. What if you could save $300K when you buy your next property? This is almost 7 years’ average New Zealander salary. Let’s start with an example: We consider a family of two […]
Do you live in a healthy home? As you may know, the government introduce a new rule that rental properties must meet the healthy homes standards within 90 days of any new or renewed tenancies that start on or after 1 July 2021. Healthy home standards are in 5 main categories: Heating standard Insulation standard […]
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 […]
Now Rent Are Increasing One of my predictions for 2022 was “rent will jump to the roof”, let’s see the statistics, why are rents increasing and what would be the prediction for the next couple of months. Based on MBIE (Ministry of Business, Innovation and Employment) statistics annual average rent increase is about 10%. The […]
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 […]
Don’t Buy Weetbix Cladding and weather tightness are the most important things you need to check before buying your next property. You may need to spend 200K+ to fix cladding related issues. One of the problematic cladding is the weatherside. Weatherside was used in the early 1980s until its problem was discovered. Weatherside is a […]
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 […]
Act Now, Labour & National Joint Together To Change Situation Recently Labour & National announce together new density law, the new rule will allow people to build up to three homes of up to three storeys on most sites in Auckland, Hamilton, Tauranga, Wellington, and Christchurch without resources consent. While this is amazing and shocking news let’s […]
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 […]
RENT Average rent prices raised 5% from 2015 while inflation (CPI Index) was well control by RBNZ around 2%, bank interest on savings was around 2% and mortgage interest rates around 3%! This week we look at how much the rent will increase in near future. This is the third part of the Interest Rates, Property Price & […]
Property Market Update There were two new announcements recently which I want to explain further in this week post. Both of them will play a key role in how the market work in the short term and long term. The 3rd part INTEREST RATES, PROPERTY PRICE, RENT will be published next week. As you read in the interest rates post, we […]
Property Price Average property prices raised 650% over the past 30 years, 150% in the past decade, and 31% in the past year in New Zealand (I encourage you to read it again and think for while). 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. […]
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 […]
Level 4, Property Market & Opportunities In a crisis, there’s always opportunity. Given that you’re reading this right now, you’re already ahead of others. New Zealand moved to level 4 lockdown last night. Based on previous lockdown experience expected: Less property comes to market in the next couple of weeks because each property needs some preparation before […]
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 […]