New Zealand Winter means beautiful "evergreen" New Zealand with the clean pure sheep, picturesque snowfields (Queenstown and Wanaka are absolutely beautiful and very popular this time of the year).
The rest of NZ beautiful landscapes plus in the North Island crisp mornings and moderate temperatures. From a Financial, Residential and Economic situation NZ has been growing at an annual rate of 2.5%. Recently the world price for dairy products has fallen sharply plus Chinese and European developments affecting the world. These have resulted in the Reserve Bank for 2nd time in 2015 reducing the cash rate as of 23 July to 3%. Economists are forecasting at least another 1 or 2 Reserve Bank Variable Interest Rate cuts in 2015. Banks have recently also reduced the fixed rates down to 4.88% 1 and 2 years.
Auckland has grown so fast that there is are very important announcements from the Reserve Bank advising that from 1 October all Auckland "Investment" Properties will only be able to borrow maximum 70% finance and that if an Auckland "Investment" property from 1 October is sold within 2 years then capital gains tax will come into effect. Please note this is Auckland Province only. The rest of NZ will have more chance of borrowing over 80% to help the first home owners.
Also all non residents investors must have a NZ tax file number from 1 October 2015.
GDP has risen 2.5% in the year to July 2015. NZ exports remain high. With high migration there is still a shortage of housing particularly in Auckland.
Job Opportunities - unemployment rate March 2015 quarter was 5.8% (previous year 6.2%).
Property Market - Auckland median house price has increased 17% in the past 12 months up to June 2015 to NZ$840,165, Christchurch house price $474,269 up 3.29%, Tauranga house price $485,561 up 7.3% and the NZ average property $520,585 up 9.3% in past 12 months to June 2015 (QV report July 15).
Many Ex Pat Kiwis are moving back to NZ as well as many migrants.
Remember there is No Stamp Duty and No Land Tax in New Zealand. NZ is so beautiful that many people look at "lifestyle" as well as investment. Refer to my "Case Studies" on my website for Australian residents and Ex Pat Kiwis living in Australia investing or moving to NZ .Contact Mary from New Zealand Mortgage Solutions for a preapproval from a choice of leading New Zealand banks/lenders.
New Zealand continues to be very popular destination for many Irish people. My father came from Tralee Ireland many years ago and I have seen many Irish enjoy the New Zealand lifestyle. Read our latest newsletter below!!! Would love to help the Irish!!!
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.
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