Santa’s Gifts Are Coming Early
Christmas Day is still a few weeks away, but we must have all been good this year as the presents have already started to arrive.
The Reserve Bank has announced easing of the Loan-to-Value Ratio lending restrictions for both investors and owner-occupiers, effective from 1st January 2018. While the adjustments are modest there may be further easing next year depending on the state of the housing market - our new coalition Government have signalled that increasing housing affordability will be a key tenet of their policy so first home buyers have a lot to look forward to.
On a local level our Canterbury real estate market remains buoyant and there is still plenty of buyer activity - our auction rooms have enjoyed good numbers over the past few weeks and the New Year is gearing up to be just as busy.
And if you have teenagers looking at going on to tertiary training, then you’ll welcome the news that the Government is picking up the tab for their first year’s fees. And, from 1st January 2018, Student Allowance rates and the maximum amount students can borrow for living costs will increase by $50 a week. Any costs that parents don’t have to cover has to be a good thing!
And making up the trifecta is the weather which has finally kicked into gear - giving us hope that the long hot summer isn’t too far away. Whatever you are doing over the Christmas and New Year period we wish you all a safe and happy holiday season.
Supporting the City Mission
I am proud to be a supporter of the City Mission – they do a wonderful job (especially at this time of year) & it’s often work that goes unheralded by the general public.
The City Mission’s “Walk of Stars” campaign is running currently and I would encourage you to make a donation which allows their work to continue.
For more details on their activities and fundraising click here
Christmas Office Hours
With the holiday season rapidly approaching it’s timely to remind you that my team & I will be having a well-deserved break to refresh and recharge.
Our last working day for the year will be Friday 22nd December 2017 but of course if you have any urgent real estate needs over the holiday period we are always contactable via email or phone.
Grenadier’s offices will all be closed between Christmas & New Year, re-opening for business on Wednesday 3rd January 2018.
With many doomsayers taking down the real estate market you would be forgiven for thinking there are no buyers left out there! But despite the negative press, my clients tell me a different story; I am contacted daily by buyers who are in despair at the lack of available stock across all price ranges and suburbs. You may be able to help - if you have a property that matches any of the "wish lists" below and you're thinking of selling please give me a call.
Monthly Mortgage News with Sue Clydesdale of Mortgage Express
"The Don" won the presidential election. Markets had suggested before the election that if that happened we could see interest rates (primarily long-term fixed) increase.
At this stage the market is still digesting the news and it's not panic stations although I have seen some banks offering slightly higher at 3, 4 & 5 years fixed. Interesting that even with the OCR drop on Thursday to 1.75% none of the banks have reduced even their variable rates.
I think that is in anticipation of rates moving up. If you want to look at fixing your own rates then happy to talk to you.
For further information please contact Sue Clydesdale at Mortgage Express on 0272 117 209 or freephone 0800 226 226.
I am so proud of my son Sam, who has now established his own plumbing and drainlaying business. If you or anyone you know needs the services of a plumber (and goodness knows, there is strong demand for them in our city at the moment) Sam & his team would be only too willing to assist you.
Brooklyn Services. We now have a full drainage service. If your drain is blocked or needs a repair we can be there straight away with all gear including drain camera. Remember do it right call day and night!