Market Update? YIP!

Hey Everyone! This week we saw the Reserve Bank take a mature approach and not put up the OCR. They hope the banks will readjust their long-term profit margins and bring the market back on a better path. Westpac surprisingly leads the charge with a reduction in the 2-year rate ahead of this announcement - But on the other side, some minor banks are offering higher term deposit rates, and some are even higher than the mortgage rates of major banks. As people sell up and more cash is circulating, people will be moving their cash to where the better term deposit/investment options are. This could cause major banks to increase rates (both term deposit & home loan) to compete. It appears that the property market could be in for further disruptions in the near future and the current recovery in a very small portion of the market, may be just temporary Buyers are continuing to return to the market and investors (particularly developers are eyeing up opportunities to solidify their long-term plans. Here are the five key market variables we are keeping an eye on:

1. Supply of houses – The media will progressively report on the positive activity in the last 2 months and we are already starting to see a significant jump in enquiries to sell.

2. Immigration – Across the ditch, we have seen high immigration numbers positively influence the market. Although in NZ we have seen new leniency towards immigration, and yes people are moving to NZ, but we have not seen the numbers necessary to make a significant difference to the market. We should see how many come to NZ later this year.

3. Interest Rates – For the market to properly recover, we need a downward trend in interest rates. Higher term deposit rates is sadly not what we need right now.

4. Elections – Property does not appear to be a ‘hot topic’ for this year’s election, and whilst the hotly debated topics do have an onflow effect, the proposed changes, at the moment, are going to have little effect to the current market conditions. But watch this space… this is the time when all those ‘promises’ start coming out!

The current market is ever changing and reacting rapidly to emotional differences. Remember, the market is simply the perception of the public mass and their reaction to variables changing. If you are thinking of buying/ selling/renting/moving in today’s market, it is very important to have a pulse on the market and make good decisions.

A wrong decision is very costly, and you need to make sure you weigh up different ideas and strategies before making a move. If you would like to discuss your plans and the ideal strategy for your family, get in touch – Love to hear from you! Have a wonderful week everyone!

Cross Hills Gardens

7 hectare park-like garden which includes and Angela Wilson extend a warm welcome browse their large selection of rhododendrons onsite in Kimbolton to ensure a healthy, nonroot bound plant. If you can’t make it to their plant centre you can view the plants online at www.crosshills.co.nz . They ship nationwide.

There’s one that’s right for everyone, whether you’re keen for an adventure or just down for a stroll in the sun.

Ask Palmy locals why they live where they do - in a place that doesn’t have a big neon go-to light shining on itand they might just speak in a whisper. They will probably keep their enthusiasm dialled down low but, look into their eyes and you’ll see a sparkle of about-to-tip-over enthusiasm.

To really get a sense of where you are, the bush-clad hills that you are walking in shape the gorge like a giant waka. This walk delivers with the views, is doable with kids onboard or in tow, and you will appreciate the lush bounty of this area. With that bounty in mind, take the descent in your stride knowing and boutique shops is waiting for you.

The Esplanade is an extensive 26-hectare park offering up formal gardens, bush walks, activities for the kids and Wildbase, a native wildlife rehabilitation centre. Basically, you can smell the roses, say “hi” to a native bird, chuck the kids on a mini train and wave at them while drinking your latte from the park’s café. Traversing the awa (river), the newly built bridge is unique and at night it illuminates as an art installation.

Mountain Biking

Over 30kms of trails through mixed terrain, with some jaw-dropping scenery. The trail names say it, here’s a few: Mr. Twister, Billy

The New Zealand Rugby Museum and Te Manawa country’s most comprehensive collection of rugby memorabilia and records. It’s not every day you can see the nation’s rugby oldest All Blacks jersey and the oldest rugby ball, to All Black star Dan Carter’s boots! And test out your rugby skills – kick, tackle, Street Art tour

Heritage is the cultural heart of a city that thrives on discovery – entertaining and inspiring people from all walks of life for more than 40 years. It’s a place where concepts and communities come together.

Visit our epic trail of street art and murals in and discover life-like oversized cats, beautiful native birds, celebrations of our cultures, and whimsical art works clambering up buildings.

Nature Walks untouched native bush echoing with birdsong, the choice is yours. If you would like a quick and central walk, why not head along to He Ara Kotahi where you a military camp, streams and a river in less than nine kilometres. number of artists, makers, creators, growers and all-round clever people who have to showcase their product... just in time for Christmas!

Cross Hills Gardens: 339 Rangiwahia Rd, Kimbolton Open all year around with main

Plant Centre:

Cross Hills Gardens Country Fair: Time: 9am – 4pm www.crosshillsfair.co.nz

12 Thursday August 17, 2023