Will the Debt-to-Income ratio changes throw your lending ability off balance?
Money Empire Blog
by Rob Chapman
1w ago
The much-heralded debt to income ratio restrictions are finally here. What does this mean for New Zealand home buyers and investors? According to economic data released on June 20, New Zealand’s GDP has increased, albeit only marginally by 0.2%. Although this doesn’t warrant popping the champagne corks just yet, it technically means NZ is no longer in recession. Homeowners are hoping the Reserve Bank’s reaction to the scourge of high inflation, which saw the hike in interest rates since October 2021, might become more relaxed in the future, with some suggestions that rates could even start dro ..read more
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Were you banking on the First Home Grant to get you over the line with your first home deposit?
Money Empire Blog
by Rob Chapman
1M ago
It’s likely you were counting on the eligibility of a First Home Grant to put towards the deposit for your first home. Being a KiwiSaver member and eligible applicant would have allowed you to receive a grant of up to $10,000 for a brand new home or up to $5000 for an existing home. Not only could this grant have been used to purchase a brand new home, or existing, but a home off the plans, land to build a new home on or land to relocate a home to. On the 22nd May, Housing Minister Chris Bishop, announced the First Home Buyers Grant will be coming to an end, and the government will be re-alloc ..read more
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Fixed mortgage interest rate coming to an end? Time for proper advice.
Money Empire Blog
by properlistg
1M ago
According to the latest OneRoof-Valocity figures NZ’s average property value hit bottom in June 2023, falling 14% from a peak of $1.097m in February 2022. The lift from the trough to the end of April 2024 is 3.4%. Meanwhile, interest rates rose as the Reserve Bank seeks to control inflation, although they have stayed steady in 2024 with the current Official Cash Rate sitting at 5.50%. Interest rate rises are widely thought to have ceased for now but as the media has been warning for the past couple of years, a significant number of mortgage-holders are about to encounter the end ..read more
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Is 2024 The Time To Get Into Property Investment?
Money Empire Blog
by properlistg
1M ago
In January, our regular blog writer sat down with Properli team members, to hear first hand about their own property investment journeys. Meet Sanjeewa (Sanj) Silva, Properli – Partnerships Manager. He has an extensive background in the finance industry, having worked at a high level with banks and sporting organisations. A successful property investor himself, Sanj explains that he started relatively small, in 2006, purchasing an apartment in Auckland’s CBD. “It was possibly the worst time to buy in some ways because the global financial crisis (GFC) hit about 12 months later and the value of ..read more
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Retirement in New Zealand: How Much Money Do You Need?
Money Empire Blog
by properlistg
1M ago
Life has a funny habit of speeding up once you get through your forties and fifties, and before you know it, 65 and retirement can be staring you in the face – with all the exciting possibilities it represents, once you’re freed from the shackles of work. However, if you haven’t done some pretty thorough planning beforehand, those golden years might not be all beer and skittles. What can go wrong? The retired people who experience difficulties are generally those who haven’t had the means to save a retirement nest-egg therefore needing to live on the state-funded pension. With variations accor ..read more
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Overseas buyers are keen to buy residential property in New Zealand
Money Empire Blog
by properlistg
1M ago
New Zealand Real Estate agents are noticing a rise in interest from overseas buyers following the announcement of National’s tax policy, which would remove restrictions on overseas buyers while imposing a 15% tax on residential property purchases. In 2018, the Labour government brought in the Overseas Investment Amendment Act, banning foreigners from purchasing existing property in New Zealand with the exception of New Zealand citizens or residence class visa holders ordinarily living in New Zealand, and citizens of Australian and Singapore with whom New Zealand has free trade agreements. Desi ..read more
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Navigating Money in New Relationships
Money Empire Blog
by properlistg
1M ago
Now, more than ever, we need to be on the same page as each other in a relationship – especially if it’s a relatively new one. Times are turbulent and there’s a great deal of uncertainty in the air. Interest rates have been heading up and so is the cost of food and utilities – which can bring extreme stress to households if the amount coming in doesn’t match the amount going out. Finance issues cause some of the biggest pressures in a relationship, so open, honest, messaging is crucial. We’ve pulled together some basic starting points for improving communication and reducing anxiety around mon ..read more
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Investment Properties and Getting a Home Loan in New Zealand
Money Empire Blog
by properlistg
1M ago
Investment properties can be a great way to generate passive income and build wealth over time. However, buying an investment property in New Zealand requires a significant amount of upfront capital (sometimes up to 40% or more), as well as a good understanding of the local property market and lending landscape. In this article, we’ll take a closer look at investment properties and getting a home loan in New Zealand. What is an Investment Property? An investment property is a property that is purchased with the intention of generating income (rental yield), rather than being used as a primary ..read more
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Everything You Need To Know About Mortgages
Money Empire Blog
by properlistg
1M ago
Mortgages are a topic smothering headlines across the world, and in particular New Zealand. We’re an economy dominated heavily by the housing market. This is steadily changing and diversifying as our population grows and our investments change – for example, bringing in KiwiSaver and removing the inaccessibility to the share market through platforms like Sharesies and Hatch. Regardless, we think it’s best to be informed of everything around mortgages without the media frenzy or speculating journalists. First things first, what is a mortgage? A mortgage is a loan from a lender to help you compl ..read more
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Christchurch 2024 – An Overview For Investors
Money Empire Blog
by Money Empire
3M ago
The new coalition government comprising National, Act and New Zealand First – formed at the end of 2023 – has brought with it significant changes for property investors and an increase in optimism throughout the sector is already becoming apparent as a sliding housing market shows signs of stabilisation and prices are beginning to rise again, albeit modestly. So, what’s changed? Put simply, the bright line property rule, which had increased to encompassing 10 years, meaning that owners who sold their properties sooner than that were required to pay tax, has gone back to two years, which is a s ..read more
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