Misc

Housing boom boost spending

One side effect of the housing boom has been that New Zealanders borrowed an estimated $3 billion against the increasing value of their homes in the year ended March, according to Westpac Bank economists.

Wednesday, August 25th 2004

Reserve Bank figures show New Zealanders’ total borrowing against housing at the end of March was $89.4 billion, up from $76.8 billion at the end of March 2003, a $12.5 billion increase.

The Westpac economists hasten to qualify this estimate by saying it is difficult to measure exactly due to such factors as the propensity of small business owners to borrow for business purposes against the value of their homes.

Nevertheless, New Zealanders rank as the second most likely among OECD nations, behind only Britain, to increase their spending on consumption as a result of rising house prices.

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Changes at Tenancy Services for landlords

Unity First Home Buyer special	3.95
SBS FirstHome Combo	3.99
TSB Special	4.49
SBS Bank Special	4.49
Co-operative Bank - First Home Special	4.49
ICBC	4.49
Unity Special	4.49
ASB Bank	4.59
ANZ Special	4.59
Westpac Special	4.59
Kiwibank Special	4.59

ICBC	4.89
Unity Special	4.89
BNZ - Std	4.89
Kiwibank Special	4.89
SBS Bank Special	4.89
Kainga Ora	4.95
China Construction Bank	4.95
TSB Special	5.09
ANZ Special	5.09
ASB Bank	5.09
Nelson Building Society	5.09

Westpac Special	5.59
ICBC	5.65
Kainga Ora	5.69
TSB Special	5.69
SBS Bank Special	5.69
AIA - Go Home Loans	5.69
ASB Bank	5.69
BNZ - Std	5.79
Co-operative Bank - Owner Occ	5.89
Kiwibank Special	5.89
China Construction Bank	5.99

SBS FirstHome Combo	3.29
AIA - Back My Build	3.34
SBS Construction lending for FHB	3.74
CFML 321 Loans	3.95
Co-operative Bank - Owner Occ	4.99
Co-operative Bank - Standard	4.99
Heartland Bank - Online	5.30
ICBC	5.39
Kiwibank - Offset	5.65
Kiwibank	5.75
Unity Standard	5.79

Misc

Housing boom boost spending

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