Winter Festival is upon us and we have a surprising lack of snow!!! The old saying “snow in May will never stay, snow in June is still too soon” appears to have come home to hit us. Having said that we have Remarkables, Coronet Peak and Cardrona operating albeit in a limited fashion, thank goodness for snow making.

The property market seems to have been hit a little with the colder temperatures, whilst prices still seem to be hanging on (unlike much of Auckland), time to sell has extended a bit and it would appear that the heat has gone out of the market. Whilst it wouldn’t be classed as a buyers’ market it also wouldn’t be classed as a sellers’ market. Properties priced well and marketed well still attract attention. Yes, I believe the top end market has been impacted by the Government restrictions on overseas buyers, I am not yet convinced how much that is flowing through to the rest of the market and housing stock available, time will tell.

We continue to see activity in the interest rate market, rate “specials” continue to be rolled out from main stream lenders and it is common now to have rates sub 4% on the basis that loan to value ratio is below 80%. Many people are taking the opportunity to take these low rates but continue to repay at previous levels result is a significant reduction in loan term and as a result significant saving in total loan cost. These people are also shielding themselves against possible future rate hikes by retaining the higher repayment level.

Now we are into Winter it is time to once again follow my favourite Ice Hockey Team Sky City Stampede. They have started the season in fine form and at this early stage are leading the points table with 5 wins from 6 games. This weekend they are hosting the West Auckland Admirals at the Queenstown Ice Arena for games Friday and Saturday night, guess where I will be?

If Michelle or I can help in any way don’t hesitate to contact us.

Cheers

Charlie & Michelle

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