New Zealand Winter means beautiful picturesque snow in the skifields, "evergreen" New Zealand with the clean sheep and picturesque landscape colours.
From a Financial, Residential and economic situation, NZ has been growing so strongly that the Reserve Bank announced an increase of .25% cash rate to 2.75% for the first time since July 2010. As a result Variable interest rates have increased as well as fixed rates, but recently the banks have been competitive and NZ borrowers have been locking in their fixed rates (contact Mary for refixing your NZ loan).
GDP has risen 3.3% in the year to March 14. NZ exports remain high. With high migration, shortage of housing particularly in Auckland and Christchurch, there will still be strong demand for these locations. Real Estate Institute of NZ April data shows numbers of house sales were 21% down from 1 year earlier.
This is mainly due to the Budget Announcement in May, less first home buyers cause of the Reserve Bank restriction on 20% deposit for property plus an Election in September. Job Opportunities - unemployment rate April 2014 quarter was 6% (previous year 6.2%) and economists see it falling further. This quarter was the strongest annual pace of jobs growth since 2004.Skills shortage is prevalent.
Property Market - Auckland median house price has increased 13.9% in the past 12 months up to April 2014 to NZ$705,867, Christchurch house price $451,794 up 7.9% and the NZ average property $468,383 up 8.4% in past 12 months to April 2014 (QV report May 14). Many Ex Pat Kiwis are moving back to NZ as well as many migrants.
With very little set up costs (solicitor/registration legals around NZ$1500) and no stamp duty/tax like the rest of the developed world, I can apply for 80% of purchase price from a reputable NZ bank for you.
New Zealand property market continues to be very popular for many people, particularly Irish and UK people moving Downunder. My father came from Tralee Ireland many years ago and I have seen many Irish enjoy the New Zealand lifestyle.
Mary has written (refer to Media Releases on website) a special magazine writeup on Irish and UK people moving to New Zealand called "Live The Kiwi Dream" in Australia New Zealand Magazine UK June 14 Read our latest newsletter below - New Zealand is a great place to live!!
Mary O’Brien sets out to help Irish people achieve a life’s ambition of owning property or investing in a great property asset ‘Downunder’.
Mary O’Brien is uniquely positioned to help the Irish obtain finance. Accredited with 13 New Zealand and 35 Australian banks/lenders Mary specialises in assisting the Irish with New Zealand and Australian finance. A move to another country is never easy, especially when selling and buying a home. Before leaving Ireland, or if you live in Ireland (as an investor), Mary can obtain a bank letterhead pre-approval for a NZ or Australian property. It gives you, the buyer, the confidence and comfort in knowing just how much you can borrow and is usually valid for 90 days.
Mary, herself is of second generation Irish descent, knows and understands the ups-and-downs, the twists-and-twirls, of establishing ones-self in a new country. That is how Mary’s father, Michael, from Tralee, Co Kerry, found the ‘New Country’ in the construction industry. Through her father, Mary has been imbued with a flair for property investment. Being a frequent visitor to Ireland, maintaining close contact with her Irish relations, Mary has that special understanding of what it is like to be Irish living aborad. She is delighted to be in a position in being able to assist other Irish people in their antipodean adventure. To read the latest real estate news in New Zealand, checkout our newsletter.
This calculator will help investors analyse various repayment schedules and interest rates, as well as the effect of extra repayments beyond the minimum amount. Click here to learn more about our mortgage calculators and currency converters.
We have compiled a handy checklist of you so you can begin to understand the process involved in getting a New Zealand mortgage.
Click here to read more media releases.
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