Login Login

Property economic news

Here at Chase Property Management, We try to keep pace with anything released about the New Zealand Economy, because if there is any chance that our Auckland property management clients, or those whom use us as letting agents for casual letting, are effected, we need to know about it!

Yesterday our bank ANZ released its property focus, for those that read these regularly, there is not much anew in here, perhaps a slightly more confident opinion of what is expected to happen to interest rates over 2014 and 2015.

I like to summarise the news for our Property Management Clients, so within this article all acknowledgement goes to the ANZ economics team, and the information contained below has input from the authors opinion and experiences.

The summary:

LVR restrictions seem to be impacting the market (if only slightly);

Expectations OCR will rise 1%+ in 2014, and further in 2015 (ANZ believes 12-18 month fixed may be the best option for borrowing);

In terms of housing stock, Auckland consents are up, but well below creating enough for demand (this will be good for your capital gains, vacancy rates, and rental returns);

Auckland Annual House Price inflation is said to be at 12.9%;

Annual Net Permanent Long Term Migration for Auckland 10,924 persons (a ten year high), which has a flow on effect to demand pressures on housing, and will generally correlate to an increase in house price.

January 2013- January 2014 showed an over-all rental movement of +6.1% (although our location and rental type, movement analysis have regularly shown up lower increases).

 

You can find the full write up, and many other articles here: ANZ Economic Articles



Share this

Other Latest Articles

No Image
Available
  

New Blog Post

Read More
Trademe Viewing tracker issue apology May 2020
  

Trademe Viewing tracker issue apology May 2020

Read More
What might Property Management under level 3 lockdown look like?
  

What might Property Management under level 3 lockdown look like?

Read More