TSB grabbed headlines in February when it came out with a 10 year fixed rate of 5.89%.
If you’ve been ignoring money for too long then this year might be the opportunity to get it sorted.
Would you be better fixing for 1 year at 5.60% or fixing for 2 years at 5.80%? That depends on your view on interest rates.
The property market is well recognised as having distinct cycles. However, I think there is also a kind of wave-like nature to property markets.
The next Reserve Bank Official Cash Rate (OCR) announcement is on 24th April 2014.
We had a Monty Python moment this week with the first OCR change in almost four years.
I'm an optimistic guy, and even I am uncomfortable with how much we are talking up our NZ economy.
The Reserve Bank kept the Official Cash Rate (OCR) unchanged at its last announcement on the 30th January but is widely expected to increase the rate at its next meeting on the 13th March.
From what I see, the market is softening quickly. Listings are up, auction clearance rates are down, the "bullish" stories are not as fervent.
2013 looks like it is shaping up to be another big year for Auckland property. Prices look like they could go higher in the growth suburbs, fuelled by the media, general population growth, and lots of investors late to the party.
Put simply, be patient! Right now I won't be the only investor struggling to find good property deals in Auckland.