Bank of New Zealand (BNZ) stories
Lower deposits and record-low borrowing costs are giving first-home buyers their strongest opening in more than a decade this winter.
With mortgage rules easing, the Government is being urged to soften New Zealand's foreign buyer ban to help revive property sales and investment.
Queenstown looks most exposed, with tourism reliance and Airbnb saturation making its property market vulnerable to a COVID-19 downturn.
Easing loan-to-value rules is only part of the fix, with commercial landlords warning wider support is needed to prevent a deeper downturn.
First-home buyers could face lower deposit hurdles as the Reserve Bank weighs scrapping mortgage loan-to-value rules for a year.
Lower borrowing costs are expected to bolster New Zealand property demand, with record-low interest rates giving buyers greater certainty and confidence.
Economic worries are deepening as COVID-19 threatens recession, job losses and delayed launches across New Zealand's fintech sector.
New Zealand home values kept climbing in February, lifting the average house to NZD $722,475 and worsening affordability for buyers.
Mortgaged buyers lifted their share of property purchases to 25% by the end of 2019, with some suburbs seeing them dominate the market.
A stronger fintech climate has lifted Auckland into Asia Pacific’s top 25, with New Zealand now ranked 45th globally in a new index.
Auckland's housing recovery is gathering pace, with low rates and tight listings expected to push prices higher in 2020.
Tight listings and lower bank serviceability tests are helping to lift New Zealand house values, with Auckland appearing to have bottomed out.
Nationwide house values rose 0.4% in October, as easing lending tests drew buyers back and lifted annual growth to 2.8%.
Bank of New Zealand and Vodafone New Zealand join forces to launch a business accelerator programme for Kiwi startups.
House price growth is expected to remain modest as easing lending conditions and strong migration support demand, but listings stay tight.
New Zealand SME owners need to reassess their approach to investing in their businesses, as current exit strategies are detrimental, says expert.
Many first-home buyers will still be shut out by income and price caps, leaving family loans and deposits crucial to getting on the ladder.
Looser deposit rules and bigger grants could help tenants buy sooner as Government-backed schemes are made more accessible.
Borrowers and savers face a shift as New Zealand rates fall, prompting calls to move cash into productive assets rather than bank deposits.
It's a common thought that the elderly are most likely to get scammed, but BNZ says it's also busy parents who are finding themselves on the receiving end too.
