Good news Stories

[GTM 3442]

The banks would like to see a rise in the OCR because it will give them an opportunity to raise rates.

Both lending and deposit rates will rise as a result, but the dollar value of the banks sppread will increase.

This will look good on the books come the reporting season.

Performance-based bonuses will be bigger.

[The GrandMaster]

The banks would like to see a rise in the OCR because it will give them an opportunity to raise rates.

Both lending and deposit rates will rise as a result, but the dollar value of the banks sppread will increase.

This will look good on the books come the reporting season.

Performance-based bonuses will be bigger.

See as Deposit rates are already significantly above the cash rate, I can't see them rising much.

[beacon]

Australia is beginning to watch the shylocks.

http://www.stuff.co.nz/business/3802...anks-bite-back

[minimoke]

Average house prices are maintaining their all time high values. Average value in May 2010 is at $422k - the third highest ever and still above the peaks achieved in Nov 2007. Average value is higher than the May 09 values which were $396k. Less properties sold this May compared with last - not sure if that is good news given the worries residential property investors were having with the May 2010 Budget.

[Ptolemy]

Average house prices are maintaining their all time high values. Average value in May 2010 is at $422k - the third highest ever and still above the peaks achieved in Nov 2007. Average value is higher than the May 09 values which were $396k. Less properties sold this May compared with last - not sure if that is good news given the worries residential property investors were having with the May 2010 Budget.

Hmm, seems you read a different report than me

The median residential property price eased back to $350,000 in May from $356,000 in April and down 2.7% from March peak.

It seems to me the market has topped and is in decline. Inventory up, days to sell up, asking prices down. Interest rate tightening. Six months before we can really tell which way the market is going but signs aren't great IMO.

[fungus pudding]

Hmm, seems you read a different report than me

The median residential property price eased back to $350,000 in May from $356,000 in April and down 2.7% from March peak.

It seems to me the market has topped and is in decline. Inventory up, days to sell up, asking prices down. Interest rate tightening. Six months before we can really tell which way the market is going but signs aren't great IMO.

Forget the days to sell, and look at the properties entering the market that simply are not selling. In
Dunedin there are dozens of houses that have been on the market for three months or more, but reported 'days on market' hasn't changed much at all. They only consider those that sell - not those that are listed.

[minimoke]

Forget the days to sell, and look at the properties entering the market that simply are not selling.

Locally we get the Realtor, Harcourt Blue Book, some other publication whose name escapes me and of course the newspaper. None of these publications have anywhere the number of listings there were like back in November 07.

Must check out TradeMe stats - though they were still relatively new as a marketing medium back in 07 so not quite a reliable data source.

[patsy]

Interesting article on Vancouver's drop in property sales (just like in NZ). And the "Housing Collapse Cascade Pattern" is even better - it smells of NZ all over:

http://tinyurl.com/2gylt6h

[patsy]

Not really a "good news story" - Australia the most overvalued property market; NZ sits at number seven. The only way is down.

http://www.economist.com/node/165428...ry_id=16542826

[minimoke]

A little surprisingly REINZ data out for June shows Median prices up in June to $352k - just a tad off the all time recent highs and up $12k on this time last year. And bang on the high achieved in Nov '07