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: Sunday, July 5th, 11:02AM

Mortgages

Mortgage Rates Daily Commentary
Friday 3 July 2020  Add your comment
TSB makes big rate cuts; Bank profits drop 20%

This morning TSB has made some significant cuts to its home loan lineup. Its 18 month special falls by 30 basis points, and its six-month home loan drops by 40 basis points. See the latest rates here.

With record-low rates and Covid-19 to contend with, bank profits are taking a big hit this year. KPMG's latest report shows profits fell by 20% in the first quarter: [READ ON]

 

rss
Latest Headlines

Board game for property investors

The Auckland property boom has spurred the development of a new property board game.

Wednesday, October 9th 2002, 7:48AM

by Jenny Ruth

Most economists are predicting the housing market has peaked but Auckland property investment adviser Kieran Trass reckons the boom hasn’t started yet.

While the number of days it takes to sell a house in Auckland has halved, the number of sales has shot up and prices have risen, they’re up only about 10% on a year ago, Trass says.

"I can’t see a boom in the trend … a boom doesn’t just happen overnight. A boom builds momentum. My personal opinion is that we will have a bigger increase in the next 12 months," he says.

The Auckland market is nowhere near the state it got to in 1994. "It was frantic. It was impossible to buy a property."

The economists are being taken in by seasonal factors, the traditional winter slowdown in the housing market, he says.

Trass and his firm, Hybrid Property Consulting, is preparing to launch a board game which is designed to be an educational tool for residential property investors. "It’s not a game of monopoly." He says it will allow would-be investors to practice building a property portfolio without the risk of paying out real money.

A key tool for those playing the game will be Trass’ Hybrid Read Estate Cycle Clock which aims to show where exactly in the cycle the housing market is.

Developing the clock involved studying the last three cycles in New Zealand, and Auckland in particular, and takes into account more than 40 indicators. Currently, these include strong net migration, low unemployment and relatively low interest rates.

Even current weak business confidence should bolster the housing market, Trass says. While business owners aren’t feeling confident enough to invest in their own operations, they are investing in houses, he says.

One indicator he takes particular notice of is the "flatmates wanted" columns of the newspaper. At the moment it’s near impossible to find places to rent in Auckland and the rent per room is going up faster than overall house rentals, he says.

Even the current global economic concerns and the sabre-rattling in the Middle East shouldn’t hurt our housing market, Trass says. The market actually benefited from the last two major crises, the Asian crisis and the September 11 terrorist attacks, he says.

« Market mixed on future direction of house pricesCommission to investigate Kiwibank »

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 4.55 3.19 3.19 3.49
AIA Special - 2.69 2.69 2.99
ANZ 4.44 3.15 3.25 3.85
ANZ Special - 2.65 2.75 3.35
ASB Bank 4.45 3.19 3.19 3.49
ASB Bank Special - 2.69 2.69 2.99
Bluestone 4.44 4.44 4.44 4.44
BNZ - Classic - 2.65 2.69 2.99
BNZ - Mortgage One 5.15 - - -
BNZ - Rapid Repay 4.60 - - -
BNZ - Std, FlyBuys 4.55 3.25 3.29 3.59
Lender Flt 1yr 2yr 3yr
BNZ - TotalMoney 4.55 - - -
China Construction Bank 4.49 4.70 4.80 4.95
China Construction Bank Special - 2.65 2.65 2.80
Credit Union Auckland 5.45 - - -
Credit Union Baywide 5.65 4.75 4.75 -
Credit Union South 5.65 4.75 4.75 -
First Credit Union Special 5.85 3.35 3.85 -
Heartland 3.95 2.89 2.97 3.39
Heartland Bank - Online - - - -
Heretaunga Building Society 4.99 4.35 4.45 -
HSBC Premier 4.49 2.60 2.65 2.80
Lender Flt 1yr 2yr 3yr
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 3.99 2.58 2.68 2.79
Kainga Ora 4.43 3.29 3.39 3.85
Kiwibank 3.40 3.40 3.54 4.00
Kiwibank - Capped - - - -
Kiwibank - Offset - - - -
Kiwibank Special 3.40 2.65 2.79 3.25
Liberty 5.69 - - -
Nelson Building Society 4.95 3.45 3.49 -
Pepper Essential 4.79 - - -
Lender Flt 1yr 2yr 3yr
Resimac 3.49 3.45 3.39 3.69
SBS Bank 4.54 3.29 ▼3.19 ▼3.49
SBS Bank Special - 2.79 ▼2.69 ▼2.99
The Co-operative Bank - Owner Occ 4.40 2.79 2.79 3.39
The Co-operative Bank - Standard 4.40 3.29 3.29 3.89
TSB Bank 5.34 3.59 3.49 3.79
TSB Special 4.54 ▼2.65 2.69 2.99
Wairarapa Building Society 4.99 3.75 3.99 -
Westpac 4.59 4.15 4.09 4.49
Westpac - Offset 4.59 - - -
Westpac Special - ▼2.65 2.69 2.79
Median 4.55 3.22 3.22 3.44

Last updated: 3 July 2020 8:15am

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
 
Site by Web Developer and eyelovedesign.com