Hell-OOOO Buyers' Market!
Timing is everything, people.
With spring just around the corner, it's finally time for some fun... cruising open homes for the perfect back garden!
I appreciate how many of you have felt frustrated and pulled back or soldiered on this year with so many unexpected things being thrown at you. Your patience has just been rewarded.
Top economist and mortgage commentator, Tony Alexander, thinks most interest rates may have peaked at last. His opinion was posted just as one major bank dropped their Special First Buyers’ 1-year fixed today. His opinion backs up the sentiment of the July Property Report. For more of Tony's nouse, you can sign-up for his free weekly Tony’s View www.tonyalexander.nz. After all, a well-informed buyer is a successful buyer.
According to the 31 July 2022 Property Report, New Zealand is in a National Buyers' Market for the first time in over a decade!
CLICK for the full Property Report
It's a SIGN - shorter assessment times:
After months of hard yakka, it looks like, the banks want your business again. I expect a flood of new applications to come forward once people realize there are more houses on the market and rates are stabilizing. You CAN get a better rate (just if you are a first buyer with a 20% deposit and a great application.
What constitutes a great application?
I’m glad you asked. Typically, a professional file contains all the on-point notes and documents in one complete package specifically pitched for the right product and bank, so your assessor can say ‘yes’ without a huge palaver. Given the complexity and time involved in the application process, we strongly recommend you consult a mortgage adviser.
Buyers Corner:
- If you are a first buyer, skip over to my Homebuying Checklist to end all checklists. Bookmark it on your phone and check in during the process to see where you are.
- For the official lowdown on the home buying process bookmark this page for lots of great resources: https://www.settled.govt.nz/first-home-buyers/
- Check out the new Kiwibuild criteria and Homes on offer:
- We will restart our LIVE Workshops once we are in Greenlight. Our gigs alternate between Devonport and Westhaven, so sign up early or email me to get on the invite list. You are always welcome to bring your clients and join the conversation.
- And don't forget to get your Kiwisaver First Home Withdrawal and Grant lined up well in advance. Happy to chat about all this with you as the websites can be a little dense
Important Update:
All Financial Advisers must be registered under the new Financial Advice Provider (FAP) framework and registered on the Financial Services Provider Register (FSPR). Although this has meant a lot of hoops, training and new certifications for us, it means higher standards for everyone seeking financial services and products in New Zealand.
Let’s talk.
Take advantage of my FREE 30-minute chat via zoom, app or phone by appointment.
If you're in the market for a property this year, don't wait for the hordes arriving with overseas cash in hand to make your move. And if you are planning your return or freshly back on NZ soil, check out our Expats Advice First Page.
See you at the local open homes!