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Mortgage Rates Daily Commentary
Tuesday 11 August 2020  Add your comment
Kainga Ora rate cuts; Greens propose further tenancy reforms

Kainga Ora has slashed one, two, three, and five year rates this morning. Its one year rate is available at 2.93%. See the latest rates here.

Meanwhile, the Green Party does not believe recent tenancy reforms went far enough. It has proposed new rules on its election campaign. 

 

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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 »

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Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA 4.55 2.55 2.69 2.79
ANZ 4.44 3.15 3.25 3.39
ANZ Special - 2.55 2.69 2.79
ASB Bank 4.45 2.55 2.69 2.79
Bluestone 3.49 3.49 3.49 3.49
BNZ - Classic - 2.55 2.69 2.79
BNZ - Mortgage One 5.15 - - -
BNZ - Rapid Repay 4.60 - - -
BNZ - Std, FlyBuys 4.55 3.15 3.29 3.39
BNZ - TotalMoney 4.55 - - -
CFML Loans 5.50 - - -
Lender Flt 1yr 2yr 3yr
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 3.95 3.85 -
Credit Union South 5.65 3.95 3.85 -
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 ▼3.85 ▼3.95 -
HSBC Premier 4.49 2.45 2.60 2.65
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - - - -
ICBC 3.69 2.55 2.65 2.79
Kainga Ora 4.43 ▼2.93 ▼3.07 ▼3.24
Kiwibank 3.40 3.30 3.54 3.54
Kiwibank - Offset 3.40 - - -
Kiwibank Special 3.40 2.55 2.79 2.79
Liberty 5.69 - - -
Nelson Building Society 4.95 3.45 3.49 -
Pepper Essential 4.79 - - -
Resimac 3.39 3.45 2.99 3.35
SBS Bank 4.54 ▼3.05 3.19 ▼3.25
Lender Flt 1yr 2yr 3yr
SBS Bank Special - ▼2.55 2.69 ▼2.75
The Co-operative Bank - Owner Occ 4.40 2.55 2.69 ▼2.79
The Co-operative Bank - Standard 4.40 3.05 3.19 ▼3.29
TSB Bank 5.34 3.35 3.49 3.79
TSB Special 4.54 2.55 2.69 2.99
Wairarapa Building Society 4.99 3.65 3.69 -
Westpac 4.59 4.15 4.09 4.49
Westpac - Offset 4.59 - - -
Westpac Special - 2.55 2.69 2.79
Median 4.55 3.05 3.13 3.12

Last updated: 11 August 2020 8:24am

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