First Home Buyers Club

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[First Home Buyers Club @HomeBuyerClub]

There have been some important changes to the sales and purchase agreement recently. The team at Schnauer and Co Lawyers have broken them down here. #SalesAndPurchaseAgreement

https://t.co/Hb3l70EpTu

[First Home Buyers Club @HomeBuyerClub]

The government is boosting the minimum First Home Grant house price cap for new build properties significantly in an update to the assistance scheme for first home buyers.

Big increase in First Home Grant new build price cap minimum https://t.co/DroTMryYIY

[First Home Buyers Club @HomeBuyerClub]

If you want to buy your first home, it is important you have a realistic budget from day one. It’s the first step in working out how much you can afford and how much the bank is likely to lend you. A budget also helps you focus on the right houses.
https://t.co/hW9OP4lat7

[KiwiEconomics @kiwieconomics]

Peak inflation means peak interest rates. We expect the RBNZ to deliver a 50bp hike in Feb, a step back from the outsized 75bp signalled. We have seen more than enough to justify a reduction in the pace and extent of future rate rises. We see a move to 5% https://t.co/pUfTAwxiY6

[Brad Olsen @BradOlsenNZL]

Inflation remains at 7.2%pa, after a 1.4% quarterly rise. 72% of all items measures rose in price on December, the second largest proportion (with data recorded back to December 2010). Inflation has plateaued - that’s good. But it isn’t showing much sign yet of moderating

[Hayden Donnell @HaydenDonnell]

At first I thought this development should go ahead in order to provide more housing options for younger people during a housing crisis but I admit I hadn't realised it might mean this woman has to look at different houses during her morning drive

[Sharon Zollner @sharon_zollner]

Thanks to finally getting a downside surprise on non-tradables inflation today, the RBNZ can ease off a little. We now see the OCR being raised 50bp in Feb (not 75), and two follow-up 25bp hikes taking the OCR to a peak of 5.25% in May (prev: 5.75%). https://t.co/ylpwT0qfxF

[Jenée Tibshraeny @JeneeTibshraeny]

The inflation reading aligns with economists' expectations, even though at 7.2% it's come in a bit below the RBNZ's 7.5% forecast

So, most economists will likely keep forecasting a 75 point OCR hike for Feb 22, even though some believe 25 or 50 points will be enough.

[Thomas Coughlan @coughlthom]

New Zealand in for a wild ride.

[Emma Vitz @EmmaVitz]

Unpopular opinion: it makes no sense for first home buyers to get upset at the mortgage lending criteria and then six months later to get upset that they're under financial stress because of their mortgage

[Emma Vitz @EmmaVitz]

Is now a good time to bring up how unprepared a lot of first home buyers are for the interest rates that are coming? (Poll from August, anecdotal obviously, but still)

[Jenée Tibshraeny @JeneeTibshraeny]

Interesting analysis on the financials of renting vs owning. For years I’ve thought about trying to crunch these kinds of numbers for a story, but found it too complex. Glad actuary, @EmmaVitz, did the work!

[Simon Wilson @simonbwilson]

Greenfields = sprawl. But we're getting it anyway so can it be done well? In Auranga, near Drury, they're trying to build a town where you do not need a car. My feature today @nzherald premium and paper
https://t.co/AXS41T2Iqp

[Sharon Zollner @sharon_zollner]

We have changed our OCR call. We now see the OCR peaking at 4.75% (previously 4%), with 25bp hikes added to our profile in February, April, and May next year. https://t.co/ssqGTtLYb6

[Thomas Coughlan @coughlthom]

Lot of people don't understand that you can join and contribute to Kiwisaver even if you don't have a job.

Basically anyone can sign up (and you should - it's very generous).

[First Home Buyers Club @HomeBuyerClub]

Kiwibank says Aotearoa's housing supply has turned from "famine to feast", as the construction industry builds the largest amount of housing stock since 1991.

https://t.co/7UZa8o9WwT

[First Home Buyers Club @HomeBuyerClub]

With house prices dropping, what does ‘affordable’ look like now? Alex Casey scours the listings to find out.

https://t.co/uqOM67zKaP

[First Home Buyers Club @HomeBuyerClub]

More first- home buyers are moving into Auckland suburbs such as Westgate, Glen Eden and Karaka as falling house prices and new terraced housing developments make it easier for them to get into areas they may have previously been shut out of.

https://t.co/vnZ52zoyGJ

[Hayley Paul @HayleyPRealtor]

Rupert Gough from @TheMortgageLab, says if you're "facing negative equity, consider if you are likely to sell in the near future. If so, renovations may provide the short-term equity boost needed to stay out of negative equity." https://t.co/kyutV8rvqL #aucklandrealestate

[First Home Buyers Club @HomeBuyerClub]

Buying a home is more than likely the biggest single investment you will ever make – and most buyers know they need a lawyer to help them along the way.

https://t.co/gAxZpGWK0D