Kingbird

Kingbird We are licensed mortgage advisers providing independent advice to clients throughout New Zealand

The Monetary Policy Committee of the Reserve Bank of New Zealand agreed to reduce the Official Cash Rate to 4.25 percent...
28/11/2024

The Monetary Policy Committee of the Reserve Bank of New Zealand agreed to reduce the Official Cash Rate to 4.25 percent yesterday.

The decline in annual consumer price inflation was cited among the key reasons for this decision. However, economic activity in New Zealand is still viewed as below its potential. Overall, economic growth is expected to recover during 2025 - with lower interest rates hopefully encouraging more investment and other spending.

According to Catherine Masters from OneRoof, Interest rates could go down below 5% in the next 12 months. However, curre...
06/11/2024

According to Catherine Masters from OneRoof, Interest rates could go down below 5% in the next 12 months. However, current world events and rising unemployment may negatively impact the property market.

If you need to speak to someone about your finances, a Kingbird mortgage adviser can help. Send us a message to get started.

For this week's issue of 'Tony's View', economist Tony Alexander mentions three key updates for New Zealand's property s...
25/10/2024

For this week's issue of 'Tony's View', economist Tony Alexander mentions three key updates for New Zealand's property sector:

🏠 Housing construction projects are slowing down
🏦 Interest rates are likely to go further down come next year
💰Budgets of homeowners are being challenged by rising insurance and council rates
🛫More young New Zealanders thinking of a house purchase are considering moving to Australia instead

According to yesterday's issue of Tony's View (Tony Alexander's official newsletter), house prices are now rising. Howev...
18/10/2024

According to yesterday's issue of Tony's View (Tony Alexander's official newsletter), house prices are now rising. However, according Tony, people are still being told that house prices are falling.

Tony believes that once more property buyers realise that prices are going up, we should start seeing more activity in terms of purchases - especially before prices potentially rise even further.

With the Official Cash Rate being cut to 4.75%, it is currently at the lowest it has been in 18 months. While Kiwi house...
11/10/2024

With the Official Cash Rate being cut to 4.75%, it is currently at the lowest it has been in 18 months. While Kiwi households are celebrating this news, NZ Herald Business-editor-at-large Liam Dann argues that this might be masking other economic issues.

According to him, the Reserve Bank can see that business stress and unemployment are rising - and will likely continue until next year.

According to economist Tony Alexander, there is no longer a supply of tenants as plentiful as last year. Based on a surv...
27/09/2024

According to economist Tony Alexander, there is no longer a supply of tenants as plentiful as last year.

Based on a survey he conducted with Crockers Property Management, 22% of property investors have reported finding it hard to get good tenants. This has led to more landlords pausing their plans to raise rents than before.

CoreLogic Chief Economist Kelvin Davidson mentioned that with property listings being more plentiful in the market, the ...
20/09/2024

CoreLogic Chief Economist Kelvin Davidson mentioned that with property listings being more plentiful in the market, the relatively low sales are likely due to increased buyer caution.

He adds that affordability will likely improve once lower mortgage rates follow the RBNZ's OCR cutting cycle. This, however, will likely take time to materialise fully.

According to CoreLogic NZ Chief Economist Kelvin Davidson, while many households feel happier now that mortgage rates ar...
09/09/2024

According to CoreLogic NZ Chief Economist Kelvin Davidson, while many households feel happier now that mortgage rates are going down, the market still faces considerable challenges - such as housing affordability and lower confidence in job security.

Although New Zealand households with mortgages are likely anticipating some financial relief from lower interest rates, ...
30/08/2024

Although New Zealand households with mortgages are likely anticipating some financial relief from lower interest rates, Tony Alexander (via his 'Tony's View' newsletter) anticipates that this may simply free up funds to pay increasing council and insurance rates.

It's worth noting that these rate increases are typically permanent, while reduced interest rates will only be temporary.

Since the official cash rate (OCR) dropped a couple of days ago, multiple banks have been competing against each other b...
23/08/2024

Since the official cash rate (OCR) dropped a couple of days ago, multiple banks have been competing against each other by slashing interest rates. In fact, both Kiwibank and ASB have recently announced a new set of interest rate cuts.

If the OCR continues to drop in the coming months, it's likely that banks will continue offering lower interest rates. With this in mind, now is a great time to reach out to a mortgage adviser to discuss how you can save on your mortgage.

Just send us a DM to get started!

For the first time in four years, the Reserve Bank of New Zealand has lowered the official cash rate (OCR), which is now...
16/08/2024

For the first time in four years, the Reserve Bank of New Zealand has lowered the official cash rate (OCR), which is now down to 5.25%. In response, several banks have already started lowering their interest rates.

The Reserve Bank forecasts that the OCR will drop further down to 5% by the end of the year, and to at least 4.5% by June 2025.

Compared to property values averaging $992,918 in January 2022, current values currently sit at $827,515 - roughly a 16%...
10/08/2024

Compared to property values averaging $992,918 in January 2022, current values currently sit at $827,515 - roughly a 16% drop based on CoreLogic's latest report.

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Takapuna
0622

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