Published on 08 March 2007 at 05:28 pm
Filed in Property News for New Zealand » Will Rate Rise Slow Property Price Growth in New Zealand?
So, the Reserve Bank of New Zealand have gone and done it, they’ve hiked the official cash rate (OCR) up to 7.5% and in so doing they have lost a great deal of support from everyone from exporters to senior government ministers.
The rate rise risks harming New Zealand’s primary industries, it has upset or confused The Council of Trade Unions, the Auckland Chamber of Commerce and even economic analysts at Infometrics…but will the rate rise slow property price growth in New Zealand as is hoped by the Reserve Bank Governor Dr Alan Bollard?
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There are basically two ways to buy property in New Zealand and that’s either at auction or by buying real estate for sale at a fixed price.
Both processes are straightforward if an investor understands the protocol and necessary steps in the entire property buying process. This is a guide to buying property in New Zealand whether it be for sale at auction or at a fixed price.
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New Zealand is an incredibly attractive country for property investment and indeed for investment of any kind because it has a business friendly tax system, it supports and promotes international investment and it’s a stable country with a strong economy.
Furthermore international awareness of the attraction and appeal of New Zealand is now so strong that foreign demand for property for sale in New Zealand is at an all time high at the same time as GDP growth figures in the country are strong. This means that the property purchasing power of all consumers in New Zealand’s real estate market place is currently strong enough for continued price growth.
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Property investment in New Zealand has made sound financial sense for the last one hundred years already, and with the effective economic changes successive governments have made in New Zealand over the last twenty years, the future health of the real estate sector is practically guaranteed!
Intense international property investor interest in New Zealand only took off in earnest a few years ago, but since then the real estate market has enjoyed substantial gains and a sustained buoyancy that has belied the global norm. In terms of the attractions offered by the property market for investors they are manifold and in some cases unique - read on to find out more…
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