About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   depositrates.co.nz  |   landlords.co.nz
Last Article Uploaded: Tuesday, November 25th, 10:31PM
Mortgage Rates Daily Commentary
Tuesday 25 November 2014  Add your comment
ANZ chops rates

ANZ has introduced a market-leading 18 month Special fiixed rate and reduced its one-year rate down to 5.59% It has also reduced all its fixed rates, bar the two-year special.

rss
Latest Headlines

Falling rates stimulate market

The Real Estate Institute says the April housing sales figures show falling mortgage interest rates are helping to stimulate the housing market.

Monday, May 21st 2001, 3:28PM

by Jenny Ruth

While the number of house sales dipped compared with March, they were up compared with April last year and the median price was higher than in either March or April last year.

"March is traditionally one of the most active months for real estate transactions and 2001 is no different. It was always unlikely that April would achieve a similar number of sales," says institute president Rex Hadley.

Sales nationally totalled 6,506 in April compared with 6,559 in March and just 5,238 in April 2000.

"Such a high level of improvement over last year’s sales volume bodes well for the residential housing market in 2001, and demonstrate the stimulating influence easing mortgage interest rates have had on the residential market," Hadley says.

Total sales rose from $1,394,271,191 in March to $1,423,745,699 in April. That compares with $1,106,697,099 in April 2000. The median sale price of $178,000 was $4,200 higher than in March and compares with $177,000 in April last year.

A year ago, many New Zealanders had lacked confidence in the country’s economic direction and had effectively sat on their hands, Hadley says.

"More recently, factors such as falling interest rates and improved employment figures have encouraged homebuyers, not only to re-enter the market, but also to increase their level of financial commitment to residential property."

The Reserve Bank has cut its official cash rate, from which other interest rates are set, three times this year from 6.5% to 5.75%. The unemployment rate has fallen to a 13-year low of 5.4%.

 
REINZ PROPERTY MARKET REPORT
TOTAL DWELLINGS MEDIAN PRICE COMPARISONS FOR APRIL 1996-2001
REGION

APR96

APR97

APR98

APR99

APR00

MAR01

APR01

Northland

113,000

130,000

141,000

152,250

157,000

146,500

150,000

Auckland

229,000

236,000

235,000

235,000

242,000

248,500

248,500

Waikato/BOP/Gisborne

130,000

141,750

145,500

153,000

157,000

160,000

165,000

Hawkes Bay

122,500

127,500

109,750

131,000

125,000

130,000

128,000

Manawatu/Wanganui

103,000

102,500

101,000

10,000

100,750

106,000

109,000

Taranaki

105,000

95,000

100,000

101,000

108,000

105,000

106,500

Wellington

142,000

150,000

156,150

175,000

190,000

190,000

195,000

Nelson/Marlborough

134,000

140,500

146,000

142,510

146,250

150,000

147,500

Canterbury/Westland

129,000

140,250

141,750

148,000

140,000

149,000

135,000

Otago

104,500

102,500

89,500

94,750

100,000

95,250

99,250

Southland

78,000

85,000

75,000

90,500

103,500

85,000

96,000

NZ Total

$149,000

$162,500

$160,000

$170,000

$177,000

$173,800

$178,000

« The time is near for capped rate loansDon't hold your breath for loans from the Red Sheds »

Special Offers

Commenting is closed

 

print

Printable version  

print

Email to a friend
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AMP Home Loans 7.24 5.69 6.19 6.55
AMP Home Loans $200k+ 7.14 5.59 6.09 6.45
AMP Home Loans LVR <80% - - 5.75 6.09
ANZ 6.74 ▼6.09 ▼6.19 ▼6.39
ANZ Special - ▼5.59 5.75 ▼5.99
ASB Bank 6.75 5.99 6.19 6.39
ASB Bank Special - 5.70 5.75 5.99
BankDirect 6.75 5.99 6.19 6.39
BankDirect Special - 5.70 5.75 5.99
BNZ - Classic - 5.69 5.75 -
BNZ - GlobalPlus 6.74 5.89 6.19 ▼5.85
Lender Flt 1yr 2yr 3yr
BNZ - Mortgage One 7.15 - - -
BNZ - Rapid Repay 6.74 - - -
BNZ - Std, FlyBuys 6.74 5.89 6.19 ▼5.85
BNZ - TotalMoney 6.74 - - -
Credit Union Auckland 6.70 - - -
Credit Union Baywide 6.45 6.05 6.20 -
Credit Union North 6.45 - - -
Credit Union South 5.75 - - -
eMortgage 6.04 6.15 6.69 7.19
Finance Direct 6.10 6.45 6.69 7.10
First Credit Union 6.45 - - -
Lender Flt 1yr 2yr 3yr
General Finance 5.95 6.25 6.50 7.10
HBS Bank 6.65 5.69 5.74 5.99
HBS Special - 5.59 5.49 5.69
Heartland 6.70 7.00 7.25 7.85
Heretaunga Building Society 6.70 6.00 6.50 -
Housing NZ Corp 6.74 5.99 6.39 6.59
HSBC Premier 6.84 5.69 5.75 5.99
HSBC Premier LVR > 80% - - - -
HSBC Special - 5.39 - -
ICBC 6.75 5.99 6.39 -
Kiwibank 6.65 ▼5.69 6.19 ▼6.55
Lender Flt 1yr 2yr 3yr
Kiwibank - Capped 5.65 6.50 - -
Kiwibank - Offset 6.55 - - -
Kiwibank LVR > 80% - - 5.75 ▼5.89
Liberty - - - -
Napier Building Society 5.80 6.00 6.70 -
Nelson Building Society 6.95 6.15 6.60 -
NZ Home Loans 6.85 6.09 6.40 6.65
Perpetual Trust 7.70 - - -
Resimac 6.59 6.10 6.28 6.43
SBS Bank 6.65 5.69 5.74 5.99
SBS Bank Special - 5.59 5.49 5.69
Lender Flt 1yr 2yr 3yr
Silver Fern 5.95 6.10 6.55 7.05
Sovereign 6.85 5.99 6.19 6.39
Sovereign Special - 5.70 5.75 5.99
The Co-operative Bank 6.70 5.70 5.75 6.09
TSB Bank 6.74 5.95 6.19 6.30
TSB Special - - 5.79 -
Wairarapa Building Society 6.20 5.75 5.95 -
Westpac 6.59 6.09 6.39 6.65
Westpac - Capped rates - 6.74 6.99 -
Westpac - Offset 6.59 - - -
Westpac Special - - - ▼5.99
Median 6.70 5.99 6.19 6.34

Last updated: 25 November 2014 7:07am

Previous News

MORE NEWS»

News Bites
Compare Mortgage Rates
Compare
from
to
for
To graph multiple lenders, hold down Ctrl key while clicking in list box
Find a Mortgage Broker

Add your company

Use map
About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
 
Site by PHP Developer and eyelovedesign.com