We are excited, proud and honoured to be awared the Most Trust Brand again this year, for the 7th year consecutively. On top of this we were also awarded number one for the Harcourts Global Customer Experience Award. Your feedback is important to us and helped us achieve number 1 out of 900 Harcourts offices. I wanted to share our own excitement and feelings on such a prestigious award - watch here. It’s an exciting innovation which will allow Harcourts to continue to grow our people and constantly evolve our service to clients.
The property market is bouyant. There has been an increase in listings in the Central Otago in May compared to the previous month. In a Scoop article, Vanessa Taylor from realestate.co suggests a "tale of two islands". The average asking price in the South Island seeing good growth, while the North Island appears largely to be in a holding position. F&P warn; you need to be careful with asking price data - based on properties that have not sold yet and averages as this information can be easily misconstrued, especially in Queenstown where a country mansion(s) could be listed at $10million + which could skew an average. To truely understand the market you need to look at what property has SOLD for. F&P prefer to use the median house sale data. Median House Price Data for May will be out later this month. Click here for April median data.
Having not long completed another tax year, we read an interesting article about how the New Zealand tax system really works. New Zealand taxes income on a progressive basis and generally a tax liability will arise on every dollar. The article touches on family tax credits and capital gains tax. Capital gains are generally not taxed (unless you're a property investor selling a house within five years) or otherwise involved in buying and selling properties. Read more
Capital Gains Tax has been a subject of news in recent weeks with the Tax Working Group's having now delivered their final report which is widely expected it will recommend a broad and comprehensive capital gains tax, with few if any concessions or exemptions - other than, when selling the family home. It will be interesting to see what happens here but the government are set to keep the decision under wraps until a public release on February 21 and formal response to the proposals from the Government won't be released until April. Many investors are opposed ... What will this mean in reality?
Kiwibank economists say the latest house sales figures show a "well behaved" housing market and there is now "every possibility" that the Reserve Bank sees current conditions as allowing a loosening of bank lending limits.
We are always interested to read Tony Alexander's (Chief Economist - BNZ Bank) weekly overview ... he suggests that
borrowers look likely to enjoy an environment of low interest rates for a number of years yet, especially as downside risks to world growth start to grow stronger. He suggests if he were borrowing at the moment he would remain inclined to fix most of his debt for two years ... Perhaps, some fixed for three years, but would not fix longer than that. Read the full overview
Buying a house is the one of the biggest financial decisions you'll make. With a massive amount of information at your finger tips, here are 3 tips to guide you in the right direction ... if you need professionals - F&P can help you find a specialist.
As part of the 10-year plan Queenstown council will look to make improvements to the Queenstown Gardens by adding new lighting, new public toilets, a new vehicle entrance and improving the pathways. There are, however concerns that big events could be held there.
With other banks offering great deals on their home loans - ANZ have followed but decided to go one better .... It is reducing its one year fixed rate 'special' by -10 bps, taking the rate down to 4.25%. That makes it the lowest one year carded offer from any bank other than the 4.19% offer by HSBC Premier. This deal is only available until April 30, 2018. Of course there is some conditions ... As a 'special', it requires at least 20% equity in the property, and customers need to have an ANZ transactional account with salary direct credited. Plus new home loan customers need to commit to one other ANZ 'product'.
There has been good activity in the market in the first part of this year ... the banks are offer some special offers to those that meet the criteria.
New Zealand Real Estate group Harcourts, has been selected from a world-wide category to be the first real estate company to be featured across Apple’s global web network with a case study showing how they have used Apple’s iOS technology to transform their business.
F&P work with some great systems via Apple Product. For example ...next time you are at an Open Home - you may notice us using an Ipad to register people that have attended the Open Home. Harcourts uses some great technology to help our buyers and sellers acheive their property goals. Ask F&P how they can help you.
The sign off to proceed to a detailed plan to upgrade Queenstown Town Centre was unanimously approved. Queenstown will look to spend $385 million - with a plan to construct a $41.5 m council building.