Later half of August and finally a decent covering on our local ski fields. It has to date been a very mild winter it will be interesting to see if as a result, winter extends its season or if we get an early spring.

Property market is interesting, the figures for July showed 42 sales compared to July 18 at 50, the number of days to sell increased to 49 for July 19 compared to 40 for July 18 and the median sell price $985,000 compared to $957,500 July 18.  To put the Queenstown market into perspective July’s total number of sales (42) was a mere .69% of the New Zealand total.

We are still very much a supply and demand driven market and whilst time to sell has extended, prices seem to be holding, it does appear however as though the urgency has reduced and people are taking time to decide on a purchase. It will be interesting to see what impact recent interest rate reductions will have on the market. Perhaps the biggest impact may be on investment properties as those with funds on investment at banks are impacted by significantly reducing returns. Will this see a flight of investment into bricks and mortar?

A really good time with lower interest rates to review your existing borrowing, we are seeing many clients retaining existing repayment levels but with lower rates they are significantly reducing total loan term. Happy to talk about your options at any time.

Sky City Stampede completed the season on Friday winning the second game of a best of three final against West Auckland Admirals. This win meant they again secured the hold on the Birgel Cup and was witnessed by a sell-out crowd at the Queenstown Ice Arena. Well done Stampede, rest recover and prepare for next season.

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

Cheers

Charlie & Michelle

Unlike their cousins across the Tasman, New Zealand workers have seen strong wage growth, with the biggest pay rise in a decade recently recorded. According to Statistics New Zealand, average hourly earnings have increased 4% over the past year to $32.37 an hour, which is the biggest annual percentage increase since June 2009. The seasonally adjusted unemployment rate also fell in the June quarter from 4.2% to 3.9%, with the under-utilisation rate also dropping from 11.3% to 11%.

The Reserve Bank of New Zealand (RBNZ) recently cut the official cash rate (OCR) to a historic low of 1% in an effort to stimulate the economy. The domestic economy is slowing down, with the RBNZ doing what it can to inspire people to spend money or invest in more productive investments. As the benchmark for all interest rates charged by banks and other lenders, the OCR is undeniably significant. Despite the historic nature of the current lows, however, homeowners and potential first-home buyers should only expect modest savings.

The world is becoming increasingly allergic to common foods, with children in particular likely to develop new allergies. When analysed on a global basis, the spread of allergies is far from even, with Western nations increasing at a much faster rate and specific countries much worse than others. While no-one knows for sure why allergy rates are increasing, a number of theories are being examined to explain the rising allergy crisis.

The world of work is changing all the time, with long careers less likely in the modern world and microwork opportunities coming to the foreground. Microwork is a series of small tasks that combine together to create a single unified project. Microworkers are normally employed in the technology sector, as a kind of virtual assembly line that flows between skill sets and across continents. While microworking can lead to a number of opportunities, what it offers in agility and flexibility it often lacks in stability and job security. 

Everyone wants to live in a location where life is easy to manage and stress levels are as low as possible. With most people in the Western world living in cities, politicians and town planners are constantly striving to create the most liveable conditions possible.  From transportation and accommodation through to work and school opportunities, there are lots of things to take into consideration when measuring liveability. Let's take a look at two leading ways to measure quality of life and see what it means for the future of city life.