[Moorf]

Does anyone else get the NZ Insider email each month?

Was an interesting piece on interest rates and housing boom.... seems interest rates are forecast to hit 9% at the end of this year. It also states that NZ currently has the highest interest rate of any country in the developing world - 1% more than Oz.... :eek

It also says that the housing booms is over... not that you'd know it here in Chch - still alot of competition for houses here although prices are definitely not rising at the rate they were last year.

[Michelle and Richard]

Have heard that it will go up by at least another .5%.

Proeprty here is not selling as easily as it was apparently, average was 21 days now 42 days. More giving prices and negotible ! quite a few we have looked at have dropped prices of up to 100 000. Will be interesting but as a result we wont be diving in just yet.

Michelle

[Moorf]

WOW - 100K under asking?!!!!

There's hope :hopeso

[Dinnaefash]

Are those high rates of interest available on sterling accounts in NZ :hopeso :yes :clap , or just on NZ dollar accounts???

[Michelle and Richard]

Yes they had originally were up for auction and didn't sell so were back on at offers and the agents gave us an indication of what would likely be sold at.

We have heard many times that buyers are over optimistic about achievable prices.

There was also an interesting article in a local paper that they expect a"price correction" of at least 5% and now is not the time to be buying anything as an investment property because house prices are falling, rents falling.

Michelle

[Moorf]

We've just been in Diamond Harbour (ohhhh stunning!!) looking at houses - saw one today and seeing another couple tomorrow.

It's a 40 min commute into Chch town centre but WHAT a drive - great scenery and enough twists and turns to convince Woz that we need our Mini Cooper back :nice1

And the prices... great prices.. saw a 3 bed with sea views which also had a 2 bed self-contained flat with it... NZ$380k !!

However, the one we like which is the same, sea views etc, but without the self-contained apartment is just NZ$275k !! Money left over for a boat methinks ;)

[Michelle and Richard]

Thanks for making me soooooo jealous. Did I tell you about the garden around here that was up for $300 000 and it wasn't that big. No seaviews just a nice (ish) small garden 1 tree and seriously overlooked. Around here gardens are called section or subdivision and they are for building houses on !

Michelle