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TONI DAWSON, a fully qualified Mortgage Advisor, with more than 15 years’ industry experience, shares her expertise.
On April 9 we had another Official Cash Rate (OCR) review.
As I write this on April 7, the expectation is the OCR will drop further as the Reserve Bank focuses on finding that sweet spot for interest rates.
Meanwhile this is what has been happening in local property markets – as released by CoreLogic on April 3.
$1,521,622 is the current median value of houses in Bucklands Beach. The median value decreased by 0.3 per cent over one month and decreased by 7.7 per cent over 12 months.
$1,449,683 is the current median value of houses in Cockle Bay. The median value decreased by 0.2 per cent over one month and decreased by 6.2 per cent over 12 months.
$1,552,610 is the current median value of houses in Beachlands. The median value increased by 0.3 per cent over one month and decreased by 1.3 per cent over 12 months.
$1,563,890 is the current median value of houses in Clevedon. The median value increased by 0.5 per cent over one month and decreased by 3.2 per cent over 12 months.
Across New Zealand we saw property values increase by 0.5 per cent in March, after a 0.4 per cent lift in February, and a flat result for January.
Having just said all that, while it’s worthwhile keeping up to date with what’s happening in the market, I think we can get too bogged down in the short-term statistics.
This is because, for many of us, property ownership is a long-term gig.
Unless you’re a developer or a speculator, adopting a “buy and hold” strategy (being consistently in the market) will mean that those short-term ups and downs will get smoothed out over the longer term. The sooner you can get started, the better.
- Toni Dawson, NZCFS Level 5, BBS, GradDipBusStuds (Personal Financial Planning) FSP1000506, phone 027 646 9269, at 38A Wakelin Road, Beachlands 2018.
