Taranaki

Invest In Taranaki?

Property asking prices continue to drop in Taranaki. The downturn of their primary industries (oil, gas and diary) has made home buyers wary. The rest of the country has enjoyed months of capital gains except for Taranaki which has continued on a steady decline since August 2015 according to Trade Me Sales Price Index.

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Flying

New LVR restrictions in 1 October

Banks have been given an extra month to process their back log of Pre-approvals therefore from 1 October all loans new and pre-approvals will need to adhere to the 60% LVR restriction rules. Yesterday the OCR moved to it’s lowest rate of two percent and the dollar rose more than a cent against the greenback. It could have gone lower too due to weak global conditions.

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gavel

Tenant Fined Sets Precedent

Tenants need to know they are now on notice regarding smoke alarms. The Tenancy Tribunal fined a Hamilton tenant for tampering with smoke alarms this month setting a new case-law precedent for future cases. Landlords and property managers have taken notice of this outcome and it can be said the Residential Tenancy Amendments Act 2016 (RTAA) effective 1 July 2016 is now very much part of Tenancy Tribunal legislation ‘tool-kit’.

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LVR4Aug600300

LVR Webinar Largest Audience Forecast

The property investment Webinar series is kicking off on Thursday with Steve Goodey of PropertyTutors hosting a webinar titled: 60% LVR Funding Tactics From CEO’s. Executive level speakers from near Bank lenders will be on the webinar to answer questions on the new LVR restriction rules.

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chalkboard

60 Percent LVR Won’t Stop Investors

Sentiment on PropertyTalk is investors will carry on despite their initial shock at the sudden announcement that come 1st September they’ll need a 40 percent deposit to purchase an investment property nationwide. A discussion commenced online a few minutes after the RBNZ announcement with replies from property investors showing many of the signs of grief.

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Investor

First Home Buyer Learns From Investors

Into the lion’s den of PropertyTalk goes a prospective first home buyer. You may be thinking – it’s quite a brave move given PropertyTalk is mostly frequented by property investors and landlords. However this first home buyer has already learned a lot from the investors whom have replied and offered him various points of view and suggestions on how to secure a first home.

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investorpie

Honing In On Property Investors

Measures to dampen property demand are on the table and in the media it’s the upping the current LVR restriction on property investors that is most favoured as the most likely action taken by the RBNZ. However it may not be the only measure as the RBNZ Deputy Governor is reportedly saying DTI (debt to income) ratios may also have a role.

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apartments

Median Rent Increase Less Than Expected

Demand is up for rental properties in most areas except Canterbury where the median rent has fallen over the past twelve months by two percent. Increased supply of property in Christchurch post-rebuild has meant less demand for rental accomodation and the median weekly rent is now back to where it was three years ago according to Trade Me Rent Price Index.

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property gain

Most Gain In Units, Apartments, Townhouses

The types of properties gaining the most in value around the country right now are units, apartments and townhouses. These properties are typically smaller than your standalone three bedroom property and generally cheaper too so they’re highly sought after by property investors investing for yield.

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meth

The Meth Mine Field

Meth contamination is a big threat to rental properties as it’s popularity grows. Clean up costs are in the tens of thousands and investor experiences with contamination are now on PropertyTalk.com including this discussion: Meth testing between tenancies which has nearly clocked up 20,000 views in just nine weeks.

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PBpost

Property Investors Unjustifiably Targeted

Enough already. It’s easy to just blame property investors for all that is wrong in the property market but it’s a cop-out at best. Property investors are not the cause of everything that’s wrong with the Auckland property market so why are they being unjustifiably targeted?

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