Mortgage News June 20, 2019
Welcome to June's Capital Comment...

It is amazing that we are nearly halfway through 2019 already. Amazing and quite scary! Time seems to be flying by. As I approach the end of my 16th year as a mortgage adviser I can safely say that borrowers have never had it so good! 12 and 24 month rates as low as 3.85% and 3 years at 3.89%...money is cheap. I was briefly talking about rates with my father-in-law at the weekend and he couldn't believe the rates we have been arranging for people recently . This generation of borrowers can hopefully enjoy rates at this level for some time to come. With the OCR announcement next week we'll get a clearer picture as to when the next reduction in the OCR may happen. It's certainly hard to find an economist who isn't expecting one. 

As we move into the typically quieter month of July, I am heading home for a couple of weeks to see family and in the hope that I can experience England winning the Cricket World Cup. A long shot I know but worth a try! I will be working throughout the time I'm away so please don't hesitate to get in touch with any inquiries; questions or new referrals! The $100 thank you Prezzy Cards will have to wait until I get back though!

Personal Risk Insurance by Tracey

Personal Risk insurance is one of those things that we often put it into the too-hard-basket.

There are lots of different types of cover and plenty of things to consider, so it helps to get some advice, so you have a good understanding of your options.

Here are some things to consider about your insurances: 

 

It pays to keep your policy up to date – but it doesn’t always pay to change it

Things in your life change, and your insurance needs might change too. Milestones like buying a house or having a baby are an exciting time for anyone, but it’s also a good reason to revisit your insurance cover to make sure you have a plan for that debt or for your family if something should happen to you. 

As with any insurance, when you review your cover you might decide that another insurer could offer you a better deal. But before you cancel your policies and make the switch, it’s important to get advice. 

A new insurer means you will be underwritten again, and if you have any new medical issues or conditions you might get less cover or higher premiums by switching. An adviser will be able to explain how cancelling your policy might affect you for future cover and help figure out what will suit your future needs. 



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Migration Up but Approval Down

Migration numbers are up across New Zealand, with a recent surge of arrivals leading to a strong net gain for the year ending April. Most long-term arrivals were Australian and New Zealand citizens, with people arriving on work, student, and visitor visas also up over the year. While more people arrived and departed New Zealand than they did in 2018, the number of people leaving the country was more muted. New Zealand is one of the most diverse nations in the world, with debate still taking place over what is sustainable for such a small and geographically isolated nation.


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House Values Drop in Auckland but Rise Elsewhere

New Zealand's biggest housing market continues to fall, with other major centres softening but the regions still seeing healthy growth. According to May figures from Quotable Value, the average home value in Auckland fell by -1.9 per cent over the last six months, which is fairly consistent with recent declines at -2.1 per cent for the year. Other major centres were struggling but still up over 12 months, with regional centres experiencing stronger growth as New Zealand becomes a three-speed property market. 


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Benefits of Intergenerational Living

Living with your relatives is common in many parts of the world, with financial and cultural reasons often bringing three of more generations together. While many Aussies and Kiwis live in share houses when they're young, the nuclear family is very much the norm later in life. Living trends are slowly changing, however, with people staying at home for longer and elderly parents sometimes moving back with their kids after they retire. While extended families and mixed generational homes are certainly not for everyone, intergenerational living can offer advantages to people at any stage of life.


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World's Most Exclusive Travel Experiences

It doesn't matter where you go or what you do, travel has the potential to transform your expectations and enrich your life. New perspectives and experiences can help you take a step back and look at your life through a new lens. While every holiday feels a little extravagant, there are some destinations and experiences that revel in their exclusive status. From million dollar resorts through to penthouse suites and holidays in space, let's take a look at the world's most lavish travel experiences.


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> In This Issue...
1. Welcome to June's Capital Comment...
2. Personal Risk Insurance by Tracey
3. Migration Up but Approval Down
4. House Values Drop in Auckland but Rise Elsewhere
5. Benefits of Intergenerational Living
6. World's Most Exclusive Travel Experiences

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Kit Jackson and Tracey Verrenkamp

Phone: 04 495 5900
Fax:

Level 1, 354 Lambton Quay
Wellington


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