Moosie - You don't seem to be the only one who 'misread' it
http://www.interest.co.nz/opinion/69...restrictions-l
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Moosie - You don't seem to be the only one who 'misread' it
http://www.interest.co.nz/opinion/69...restrictions-l
PPI (Producers Price Index) out yesterday
From Stats NZ -
Annual change
In the March 2014 quarter, compared with the March 2013 quarter:
The output PPI increased 4.0 percent.
The input PPI increased 3.1 percent.
CPI generally follows the PPI
No further commenting
Looks like we will be OK ......64% of 118 who replied to the Expectations Survey
http://www.rbnz.govt.nz/statistics/tables/m14/
Extract -
Both one and two-year-ahead expectations of annual Consumers Price Index (CPI) inflation are little moved since last quarter. The one-year series increased from 2.03 to 2.08 percent on a mean basis. The median is unchanged at 2.00 percent.
Likewise, the two-year series barely moved this quarter, increasing from 2.33 percent to 2.36 percent. However, the median increased from 2.30 to 2.35 percent.
Respondents are also asked what they believe quarterly CPI inflation will be for the current and next quarters. A quarterly percentage increase of 0.47 percent is expected for the June 2014 quarter (0.54 percent last survey), and 0.59 percent for the September 2014 quarter. These expected quarterly increases imply annual inflation rates of 1.9 and 1.5 percent for the years to June 2014 and September 2014 respectively.
Also GDP expectations not that of a rock star economy, labour costs to go up, unemployment to fall, higher interest rates and a lower NZD. Can't be all that bad
Yeah so much for the RB's "It's been really effective," PR line.
So somebody has been in the RB's ear and told Wheeler that the LVR speed limit is just hurting everywhere in NZ outside of the hot property markets.
The UK is discussing LVR right now (or equivalents) and have already concluded it was a stupid idea as it made it very difficult indeed for people to get mortgages even outside London.
In NZ/AU yes. For now! If left to their own devices, as elsewhere, they will blow themselves up.
Yes indeed. The hog was once offered a 120% mortgage with some thousands in cash as an incentive by a large anglo-saxon bank.Quote:
E.g. When I applied for a 95% mortgage the normalised rate offered (i.e. with mortgage indemnity insurance capitalised into the loan amount) was huge - circa 2.5% above what I'd have got with a 25% deposit. And this was with only 20% of our combined incomes servicing the debt which I could have serviced on my own income alone at less than 50%. ... The UK and Europe (and the US for that matter) are very different to NZ and Oz.
No, never said that. They are effective, but the impact blows out to areas where maybe increased house ownership may be preferable.
http://www.nzherald.co.nz/personal-f...ectid=11252242Quote:
you say the LVRs are likely going to be canned - where are you getting this information from?
http://auckland.scoop.co.nz/2014/05/...ctions-may-go/
http://www.landlords.co.nz/article/5...lauds-lvr-move
http://www.nbr.co.nz/article/reserve...says-bd-155881
http://assuredproperty.co.nz/lvr-rul...o-by-year-end/
Of course, this could all be hot air.
There is NO supply issue in Auckland
http://www.sharechat.co.nz/article/d...tage-nzierhtml
Westpac report 'Where Should We Build Now' sugests that Wellington andvTasman aren't building enough houses
Canterbury is a story in its own right