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How come people buy houses when they are so expensive?

Friday, September 30th, 9:57AM  Add your comment

We all seem to agree. New Zealand home prices look extremely high. But if they are so grossly unaffordable then how come so many people are willing and able to buy them? BNZ economist Craig Ebert gives you the answer here

Carr steps down as RBNZ chair

Tuesday, September 27th, 12:57PM

Former acting governor Rod Carr has stepped down as chair of the Reserve Bank board of directors.

Steep decline in investor lending

Monday, September 26th, 4:17PM

New Reserve Bank mortgage lending data leaves little doubt that the new investor-targeted LVRs have had a significant impact on bank lending to investors - lending to Auckland landlords dropped by almost 20%.

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Mortgage Lender Floating 6 mth 1 year 18 mth 2 years 3 years 4 years 5 years RC
ANZ 5.59 4.99 4.75 4.89 4.79 4.99 5.20 5.30 5.70
ANZ Special - - 4.25 - 4.29 - - - -
ASB Bank 5.55 5.09 4.69 4.79 4.75 4.89 5.09 5.29 5.55
ASB Bank Special - 4.75 4.25 4.25 4.29 4.34 4.59 4.79 -
BankDirect 5.55 5.09 4.69 4.79 4.75 4.89 - 5.29 5.55
BankDirect Special - 4.75 4.25 4.25 4.29 4.34 - 4.79 -
BNZ - Mortgage One 6.25 - - - - - - - 7.15
BNZ - Rapid Repay 5.70 - - - - - - - 6.74
BNZ - Special - - 4.29 - 4.29 4.49 - - -
BNZ - Std, FlyBuys 5.64 4.99 4.85 4.99 4.89 4.99 4.99 5.15 -
BNZ - TotalMoney 5.64 - - - - - - - -
Credit Union Auckland 6.70 - - - - - - - -
Credit Union Baywide 5.95 5.55 4.99 4.99 4.99 - - - -
Credit Union North 6.45 - - - - - - - -
Credit Union South 6.45 - - - - - - - -
Finance Direct 6.10 6.25 6.45 6.60 6.69 7.10 7.45 7.70 -
First Credit Union 5.85 - - - - - - - -
Heartland 6.70 6.90 7.00 - 7.25 7.85 - 8.55 6.70
Heretaunga Building Society 5.60 - 4.85 - 4.90 - - - -
Housing NZ Corp 5.55 - 4.69 - 4.75 4.89 - 5.15 -
HSBC Premier 5.75 4.85 4.19 4.19 4.19 4.49 4.79 4.99 5.89
HSBC Premier LVR > 80% - - - - - - - - -
HSBC Special - - - - 3.79 - - - -
ICBC 5.60 4.39 4.39 4.69 4.69 4.99 5.35 5.45 -
5.25 4.75 4.70 - 4.75 4.29 4.90 4.99 5.50
Mortgage Lender Floating 6 mth 1 year 18 mth 2 years 3 years 4 years 5 years RC
Kiwibank - Capped - - - - - - - - -
Kiwibank - Offset 5.25 - - - - - - - -
Kiwibank Special - - 4.19 - 4.19 - - 5.35 -
Liberty 5.69 - - - - - - - -
Napier Building Society 6.50 - 5.80 - 6.70 - - - 5.85
Nelson Building Society 6.10 - 4.85 - 4.99 - - - -
NZ Home Loans 5.45 4.75 4.69 - 4.75 4.75 5.25 5.35 -
NZ Home Loans - Specials - - - - - - - - -
NZ Home Loans - Specials - - 4.19 - 4.19 4.29 4.59 4.79 -
Perpetual Trust 7.70 - - - - - - - 5.70
Resimac 5.19 - 4.94 - 4.90 4.91 5.03 5.03 -
SBS Bank 5.54 4.99 4.75 4.89 4.89 4.99 5.10 5.19 5.59
SBS Bank Special - 4.50 4.25 4.15 4.15 4.55 4.90 4.99 -
5.65 5.09 4.69 4.79 4.75 4.89 5.09 5.29 6.35
Sovereign Special - 4.75 4.25 4.25 4.29 4.34 4.59 4.79 -
The Co-operative Bank 5.45 4.50 4.25 4.29 4.35 4.49 4.89 4.99 5.45
TSB Bank 5.54 4.99 4.75 4.75 4.75 4.99 5.19 5.19 5.54
TSB Special - 4.75 4.25 4.35 4.19 4.59 4.89 4.99 -
Wairarapa Building Society 6.20 - 5.75 - 5.95 - - - -
Westpac 5.65 5.15 4.79 4.95 4.85 4.99 5.09 5.19 5.65
Westpac - Capped rates - - 5.15 - 5.25 - - - -
Westpac - Offset 5.65 - - - - - - - -
Westpac Special - - 4.25 - 4.29 4.49 - 4.89 -
Median 5.65 4.99 4.69 4.77 4.75 4.89 5.03 5.15 5.70

Last updated: 26 September 2016 9:58am

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