May 2019's Property Gazette

Will the Official Cash Rate Drop

In March, Reserve Bank Governor Adrian Orr implied that any future movement in the OCR is likely to be downwards. With domestic growth slowing and a weaker global economic outlook, economists are therefore predicting:

  • There is a 50/50 chance of the OCR dropping .25% on May 8th 2019
  • A further drop to 1.25% is possible in August or November

Economists noted that the RNBZ Governor did not refer to his past statements of keeping the OCR stable until the end of the year and into 2020.

While in the past, many drops in the OCR have led to a reduction of interest rates; this may not be the case this time. The capital requirements held by the lenders are rising, making it highly unlikely that full savings will be passed onto mortgage holders.

It’s not all bad news though. Interest rates are still at record lows, and we can help you access them. Get in touch with our team today and let’s work together to get you the best rates.

Tips on Buying a Home During the Colder Months

Should you be looking for a home during Autumn or Winter? We say yes! While the warmer months have the advantage of longer days and balmy weather, now is an ideal time for house hunting.

Traditionally there are fewer homes on the market during the cooler months. On the plus side, there are usually fewer people searching for homes, which means less competition. Eager sellers are ready to sell now, and this puts you in a great place to negotiate the price.

There are some challenges though, and these are often weather-related. You may be reluctant to view the exterior of a home in poor weather. Crawling in the ceiling space or under the floor won’t be high on your priority list. You may also be unable to view a property during daylight hours, seeing it only after dusk. These challenges have the potential to cause trouble down the road for you if you purchase a home without seeing fully what you’re buying. As well as making time to visit the property during the day, we also recommend you contact a property inspection professional who can perform the necessary inspections on your behalf.

In our digital world, people are increasingly comfortable purchasing almost everything online. However, before you press ‘buy’ on a complex product such as life insurance, we recommend you get advice from a registered financial advisor like us.

For personal advice and support when purchasing a property, you can rely on us. Give us a call today.

  • Scott has been absolutely amazing in this home buying process.
    Ashley Bonham - 29 March 2025
  • We worked with Scott in securing our first home, and our experience was 10/10 from start to finish.
    He helped us in so many ways, especially since we had no idea what we were doing!
    He was always available to answer our questions and clearly explained everything step by step.
    Colette Cleary - 28 March 2025
  • Scott was very helpful with guiding us through the process of getting a home loan, highly recommend.
    Jake Badger - 25 March 2025
  • Greg has been fantastic in helping me purchase my first property. He made the whole process incredibly smooth and stress free from start to finish. Very supportive and helpful. Excellent and friendly service.
    Matthew Morgan - 24 March 2025
  • We worked with Scott to secure a mortgage for our first home. The process from beginning to end was exceptional. Not only did he help with securing a mortgage, but he helped out in many other ways for first home buyers, explaining all the small things you don't know about when looking for your first home! Always there on the other end for a phone call whenever needed.
    Thanks Scott and team.
    Damien and Colette Dunne - 19 March 2025