My apologies that the January newsletter went out without my normal introduction. No, I wasn’t away, for some reason I simply missed it!!

All reports seem to show that January statistics showing housing prices up nationwide and number of sales also up significantly. As a result, most pundits are predicting another year of growth in the residential property market. In Queenstown growth is restricted by availability of sections and this issue is likely to be with us for some time.

At this time many of the economists are predicting that there will not be any real upward pressure on interest rates until early 2022 so presumably some stability in interest costs. The unknown is the impact of issues outside our control e.g. coronavirus. How will this be felt both locally, being a tourist destination and nationally, imports, exports terms of trade etc.

At present with the lower interest rates the two biggest questions we are getting;

1)      How do I release equity to purchase investment property?

2)      How do I pay off my mortgage at a faster rate with lower interest rates in place?

If you want the answer or have any other queries don’t hesitate to contact Michelle or Charlie; until next month stay safe.

Cheers

Charlie & Michelle