Nearly $950 million was lent to home buyers with less than a 20% deposit in March.
It was significantly up on the $584 million lent to low deposit borrowers in March last year and $510 lent by banks in March 2023.
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Cut to KiwiSaver Government contributions neither here nor there
“The Government halving its KiwiSaver contribution to $260 a year is not going to make or break deposits for first home or other house buyers.
It’s not the OCR cut but the Monetary Policy Review that counts
The Budget Is unlikely to have much bearing on next week’s RBNZ OCR review and Monetary Policy Statement.
New RBNZ survey can’t be music to its ears
Businesses across the country expecting to thrive in 2025 are still in a big hole, down in the dumps and it is showing in a big new survey by the RBNZ.
Hawks, doves and Kiwis
Some big swings in sentiment and markets in just a couple of months has led to expectations the RBNZ will drop the OCR at its meeting next week and signal another one or two to come.
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Property News
Leaving last year's stumbling housing market behind
As interest rates ease and job losses climb, New Zealand’s housing market faces a mixed year of modest growth, with conflicting forces shaping the outlook for homebuyers and investors.
Don’t bet on house prices rising faster than incomes
Former Reserve Bank Governor and National Party leader Don Brash says there are grounds for believing that house prices may finally have ended the three-decade period when they rose significantly faster than incomes.
Similar Price Growth
Although houses prices typically rise more than apartments over the long-term, the gap is not as wide as many people expect.
Top Mortgage Rates
| SBS FirstHome Combo | 4.29 |
| Unity First Home Buyer special | 4.69 |
| Co-operative Bank - First Home Special | 4.89 |
| AIA - Go Home Loans | 4.99 |
| Kainga Ora | 4.99 |
| Kiwibank Special | 4.99 |
| SBS Bank Special | 4.99 |
| TSB Special | 4.99 |
| Unity Special | 4.99 |
| ICBC | 4.99 |
| Westpac Special | 4.99 |
| Wairarapa Building Society | 4.75 |
| Nelson Building Society | 4.97 |
| AIA - Go Home Loans | 4.99 |
| Unity Special | 4.99 |
| TSB Special | 4.99 |
| SBS Bank Special | 4.99 |
| Kiwibank Special | 4.99 |
| Kainga Ora | 4.99 |
| ICBC | 4.99 |
| Westpac Special | 4.99 |
| ANZ Special | 4.99 |
| Westpac Special | 5.39 |
| ICBC | 5.49 |
| BNZ - Classic | 5.59 |
| SBS Bank Special | 5.69 |
| AIA - Go Home Loans | 5.69 |
| Co-operative Bank - Owner Occ | 5.69 |
| ASB Bank | 5.69 |
| Kainga Ora | 5.79 |
| BNZ - Std | 5.79 |
| Kiwibank Special | 5.79 |
| TSB Special | 5.89 |
| SBS FirstHome Combo | 4.19 |
| AIA - Back My Build | 4.44 |
| CFML 321 Loans | 5.25 |
| Co-operative Bank - Standard | 5.95 |
| Co-operative Bank - Owner Occ | 5.95 |
| Heartland Bank - Online | 6.25 |
| Kainga Ora | 6.44 |
| Kiwibank | 6.50 |
| ICBC | 6.50 |
| Kiwibank Special | 6.50 |
| Kiwibank - Offset | 6.50 |
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People News
Link appoints new compliance manager
Experienced compliance manager joins Link Financial Group.
Avanti Finance expands property team
Avanti Finance expands property team with new business development manager.
FMT adds new Auckland BDM
FMT strengthens its presence in the Auckland market with a new business development manager.
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KiwiSaver News
KiwiSaver contribution rates to increase; Cuts to Govt contribution
The Government is increasing contribution rates to KiwiSaver, but at the same time reducing, and in some cases, removing the member tax credit.
Generate KiwiSaver customers most satisfied
Boutique providers have taken out the top spots in Consumer New Zealand’s KiwiSaver survey with Generate awarded People’s Choice.
Advisor relationships on Sharesies' radar
Investment platform Sharesies is turning its mind to how it can work more closely with advisors now it has its latest KiwiSaver scheme options up and running.
Low deposit, high hopes: buyers take the plunge
March lending stats show confidence isn’t limited to those with big savings. The market saw nearly $950m lent to buyers with smaller deposits. [READ MORE]