tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Tuesday, March 19th, 6:25PM

Mortgages

Mortgage Rates Daily Commentary
Monday 18 March 2024  Add your comment
Activating DTIs and loosening LVRs - NZBA

The New Zealand Banking Association (NZBA) wants the Reserve Bank to loosen proposed debt-to-income (DTI) restrictions because of the internal conservatism of some banks. [READ ON]

rss
Latest Headlines

Winter hits house sales

The winter effect hit the housing market with a vengeance in June with the number of sales falling sharply and the median house price easing from May, although the market remains buoyant compared with June last year.

Monday, August 5th 2002, 6:48AM

by Jenny Ruth

The latest Real Estate Institute figures show the number of house sales fell from 9061 in May to 7,486 in June but were well up from the 6,147 homes sold in June last year.

The median house price dipped from $188,000 in May to $184,000 in June, but was well up on the $177,000 median price in June last year.

"The total number of homes sold always tends to ease back in the winter months and, after all the excitement in the market so far this year, we view June’s returns as a seasonal adjustment," says institute president Rex Hadley.

The figures show activity fell in all 11 regions in June compared with May, but was up compared with June last year in all regions except in Wellington. The median price rose in June in all but three regions compared with June last year. It fell in Northland and was unchanged in the Nelson/Marlborough and Canterbury/Westland regions.

Compared with May, the median house price fell in eight of the regions but rose in the Manawatu/Wanganui, Canterbury/Westland and Otago regions.

In the key Auckland market, the median house price fell from $266,000 in May to $261,800 in June but was up from $253,000 in June last year. The number of houses sold in Auckland fell from 3,268 in May to 2,657 but that was well up on the 2,077 houses sold in June last year.

TOTAL DWELLINGS MEDIAN PRICE COMPARISONS FOR 1996 – 2002

REGION

JUNE 02

 

MAY 02

 

JUNE 01

JUNE 00

Northland

154,000

 

170,000

 

158,000

153,000

Auckland

261,800

 

266,000

 

253,000

236,500

Waikato/BOP/Gisborne

164,500

 

165,000

 

157,500

160,000

Hawke’s Bay

132,000

 

133,000

 

126,000

115,000

Manawatu/Wanganui

105,000

 

104,000

 

101,500

103,000

Taranaki

108,000

 

110,000

 

92,000

118,000

Wellington

198,000

 

204,000

 

195,000

190,000

Nelson/Marlborough

154,000

 

157,500

 

154,000

140,000

Canterbury/Westland

140,000

 

139,000

 

140,000

145,000

Otago

110,000

 

97,000

 

100,000

95,000

Southland

78,500

 

85,000

 

65,000

68,500

NZ Total

184,000

 

$188,000

 

$177,000

$170,000

« Housing consents up and downWe hate revolving credit loans: NZHL »

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
AIA - Back My Build 6.19 - - -
AIA - Go Home Loans 8.74 7.24 6.79 6.65
ANZ 8.64 7.84 7.39 7.25
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
ANZ Special - 7.24 6.79 6.65
ASB Bank 8.64 7.24 6.79 6.65
ASB Better Homes Top Up - - - 1.00
Avanti Finance 9.15 - - -
Basecorp Finance 9.60 - - -
Bluestone 9.24 - - -
Lender Flt 1yr 2yr 3yr
BNZ - Classic - 7.24 6.79 6.65
BNZ - Green Home Loan top-ups - - - 1.00
BNZ - Mortgage One 8.69 - - -
BNZ - Rapid Repay 8.69 - - -
BNZ - Std, FlyBuys 8.69 7.84 7.39 7.25
BNZ - TotalMoney 8.69 - - -
CFML Loans 9.45 - - -
China Construction Bank - 7.09 6.75 6.49
China Construction Bank Special - - - -
Co-operative Bank - First Home Special - 7.04 - -
Co-operative Bank - Owner Occ 8.40 7.24 ▼6.79 ▼6.65
Lender Flt 1yr 2yr 3yr
Co-operative Bank - Standard 8.40 7.74 ▼7.29 ▼7.15
Credit Union Auckland 7.70 - - -
First Credit Union Special - 7.45 7.35 -
First Credit Union Standard 8.50 7.99 7.85 -
Heartland Bank - Online 7.99 6.69 6.45 6.19
Heartland Bank - Reverse Mortgage - - - -
Heretaunga Building Society 8.90 7.60 7.40 -
HSBC Premier 8.59 - - -
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 7.85 7.05 ▼6.75 6.59
Lender Flt 1yr 2yr 3yr
Kainga Ora 8.64 7.79 ▼7.39 ▼7.25
Kainga Ora - First Home Buyer Special - - - -
Kiwibank 8.50 8.25 7.79 7.55
Kiwibank - Offset 8.50 - - -
Kiwibank Special - 7.25 6.79 6.65
Liberty 8.59 8.69 8.79 8.94
Nelson Building Society 9.00 7.75 7.35 -
Pepper Money Advantage 10.49 - - -
Pepper Money Easy 8.69 - - -
Pepper Money Essential 8.29 - - -
Resimac - LVR < 80% 8.84 8.30 7.89 7.69
Lender Flt 1yr 2yr 3yr
Resimac - LVR < 90% 9.84 9.30 8.89 8.69
Resimac - Specialist Clear (Alt Doc) - - 8.99 -
Resimac - Specialist Clear (Full Doc) - - 9.49 -
SBS Bank 8.74 7.84 7.45 7.25
SBS Bank Special - 7.24 6.85 6.65
SBS Construction lending for FHB - - - -
SBS FirstHome Combo 6.19 6.74 - -
SBS FirstHome Combo - - - -
SBS Unwind reverse equity 9.95 - - -
Select Home Loans 9.24 - - -
TSB Bank 9.44 8.04 7.55 7.45
Lender Flt 1yr 2yr 3yr
TSB Special 8.64 7.24 6.75 6.65
Unity 8.64 6.99 ▼6.79 -
Unity First Home Buyer special - - 6.45 -
Wairarapa Building Society 8.60 7.15 6.85 -
Westpac 8.64 7.89 7.49 7.25
Westpac Choices Everyday 8.74 - - -
Westpac Offset 8.64 - - -
Westpac Special - 7.29 6.89 6.65
Median 8.64 7.29 7.32 6.65

Last updated: 14 March 2024 9:32am

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

Also compare rates to OCR
Find a Mortgage Broker

Add your company

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