June Note From Mike, General Manager

13 Jul, 2023

Housing Market
Property Investing
Property News

June Note From Mike, General Manager

Winter has well and truly set in now. They tell me it could be a dry winter, but when writing this, the forecast is for more rain. Have a safe journey to those of you hunting sunshine in the South Island or further afield.

Since my last email, the reserve bank has signalled that we are at the top of the interest rate cycle. Whilst the next movement should be down, this forecast isn't to occur anytime soon.

Anecdotal evidence is that the trading banks are still charging high-interest rates, making life challenging for those seeking to borrow money or refinance existing loans and creating a good deal of inquiry for Endow from people you would usually expect to easily be able to utilise trading bank facilities.

The property market appears to have stabilised, particularly at the lower end of the market, which is attractive to first-home buyers. There is increased activity and potential affirming of property prices over the next 6 months. This will no doubt be supported by the historically high levels of immigration New Zealand is currently expecting.

I have just completed a road trip from Christchurch to Queenstown, inspecting several potential and existing funding opportunities. I was impressed by the growth occurring down there, both residential and commercial.

Welcome Tom back from this food and wine tour of Asia, including Vietnam and Korea, no doubt he will have some stories to tell.

Thanks again for your support, and wishing you and your families some better weather now the days are lengthening.