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We all underestimated the extent to which prices would rise when the pandemic struck in early-2020. Now, almost everyone has underestimated the extent to which prices, and sales, are heading down now that the pandemic is over and the inflation resulting from excess stimulus needs to be brought under control.
With most of New Zealand holding its breath as we wait to see what interest rates are going to do next year, here are the Reserve Bank announcement dates you need in your diary.
Stories of builder collapses alongside high financing costs have made people step back from signing up for a new property. Presales for developers have shrunk and many projects are now being put on hold.
It's pretty scary out there right now - but despite appearances, the foundations are already being laid for the housing market's recovery.
As Kiwis grapple with the challenges of cutting costs and re-jigging finances to try and meet growing mortgage costs, here are a few tips to consider to help you prepare for (and survive) higher interest rates.
With the Reserve Bank's predictions of a recession, an unemployment rate of 5.7% and high inflation, businesses and consumers alike have had to sharply rein in their spending plans on everything but groceries, including housing. But will the fear pass with time, or simply worsen?
Our unemployment rate tells us a lot about how the Reserve Bank is doing on its mission to keep inflation under control - and looking back at the numbers, it's not exactly a glowing picture.
Over the past year or so we have seen a decline in the number of properties sold from 100,000 down to about 68,000. The OCR has just jumped up, and things are about to get worse.
Do we have any evidence in hand of the impact on the residential real estate market yet of the recent round of fixed mortgage rate increases undertaken by banks? Yes, we do.
We're fast headed towards the last OCR announcement of the year, and it's going to be a big one. In his latest market update, JB shares his expectations on where interest rates could get to, and a bit of an update on the housing market more broadly.
Ballooning costs and tougher servicing requirements are causing a lot of headaches for property investors these days, and planning ahead has never been more important.