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NZ median house price steady, sale volume falls in June

New Zealand house sales weakened in June but the median price held steady at $210,000, the Real Estate Institute of New Zealand (Reinz) said today.

Saturday, July 19th 2003, 11:47PM

by The Landlord

Reinz president Graeme Woodley said low interest rates, and the probability of a further fall in the Reserve Bank's benchmark official cash rate next week, would continue underpinning the residential market.

"The seasonal softening was to be expected, and is reflected in the national transaction figure falling from 11,158 sales in May to 9790 sales in June," Mr Woodley said in a statement.

"However we still have a much more buoyant market than in previous years, with sales in the latest period being considerably up on the June 2002 figure of 7486, and the June 2002 figure of 6147."

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Lender Flt 1yr 2yr 3yr
AIA - Back My Build 3.34 - - -
AIA - Go Home Loans 5.89 ▲4.65 ▲5.25 ▲5.49
ANZ 5.79 5.29 5.89 6.09
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
ANZ Special - 4.69 5.29 5.49
ASB Bank 5.79 ▲4.65 ▲5.25 ▲5.49
ASB Better Homes Top Up - - - 1.00
Avanti Finance - Near Prime 6.35 - - -
Avanti Finance - Specialised 7.45 - - -
Basecorp Finance 6.35 - - -
Lender Flt 1yr 2yr 3yr
BNZ - Mortgage One 5.94 - - -
BNZ - Rapid Repay 5.94 - - -
BNZ - Std 5.84 4.65 5.09 5.29
BNZ - TotalMoney 5.94 - - -
CFML 321 Loans 3.95 - - -
CFML Home Loans 6.05 - - -
CFML Prime Loans 6.25 - - -
CFML Standard Loans 6.95 - - -
China Construction Bank 6.44 4.85 4.95 4.95
China Construction Bank Special 6.44 5.85 5.95 5.95
Co-operative Bank - First Home Special - 4.55 - -
Lender Flt 1yr 2yr 3yr
Co-operative Bank - Owner Occ 4.99 4.65 5.29 5.49
Co-operative Bank - Standard 4.99 5.15 5.79 5.99
Credit Union Auckland 7.70 - - -
First Credit Union Special - 4.89 5.49 -
First Credit Union Standard 6.49 5.29 5.89 -
Heartland Bank - Online 5.30 5.89 - -
Heartland Bank - Reverse Mortgage 7.99 - - -
Heretaunga Building Society 6.50 5.50 5.65 -
ICBC 5.39 4.49 4.89 5.15
Kainga Ora 5.79 4.59 4.95 5.19
Kainga Ora - First Home Buyer Special - - - -
Lender Flt 1yr 2yr 3yr
Kiwibank 5.65 5.39 5.79 6.05
Kiwibank - Offset 5.65 - - -
Kiwibank Special 5.65 4.49 4.89 5.25
Liberty 6.65 6.55 6.22 6.20
Nelson Building Society 6.49 4.69 5.09 -
Pepper Money Near Prime 6.55 - - -
Pepper Money Prime 5.99 - - -
Pepper Money Specialist 8.00 - - -
SBS Bank 5.84 ▲5.29 ▲5.79 5.75
SBS Bank Special - ▲4.69 ▲5.19 5.15
SBS Construction lending for FHB 3.74 - - -
Lender Flt 1yr 2yr 3yr
SBS FirstHome Combo 3.29 ▲4.19 - -
SBS FirstHome Combo - - - -
SBS Unwind reverse equity 7.99 - - -
TSB Bank 6.59 ▲5.39 ▲5.99 ▲6.29
TSB Special 5.79 ▲4.59 ▲5.19 ▲5.49
Unity First Home Buyer special - 3.95 - -
Unity Special 5.79 4.59 5.09 -
Unity Standard 5.79 5.39 5.85 -
Wairarapa Building Society 6.15 4.79 ▲5.29 -
Westpac 5.89 5.29 5.79 5.89
Westpac Choices Everyday 5.99 - - -
Lender Flt 1yr 2yr 3yr
Westpac Offset 5.89 - - -
Westpac Special - 4.69 5.19 5.29
Median 5.94 4.69 5.29 5.49

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