Increased Mortgages and Credit Card Debt habits return.

Reserve Bank figures have shown that credit card debt has shot up to a record high and is concerned about the household debt-to-disposable income ratio,

Economists said some of the increase was because of populartion growth, but interest baring debt is increasing with people seemingly falling back in to bad habits such as adding to their credit card debt or increasing their mortgage.

This puts them in a vulnerable position should property prices fall while having high mortgage debt. Credit card interest rates can be high, and if they increase people can find themselves struggling to meet their debt commitments.


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Time to fix your mortgage?

There is increasing speculation that the Reserve Bank is going to increase the official cash rate. If they don’t put it up in the immediate future then all indications are that all rates will go up over the coming year.

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Apartment living is on the rise

Apartment living is on the rise in New Zealand, as more and more Kiwis try to find a way into the property market. 

The emerging trend towards a more compact style of living is especially prominent in Auckland, with demand for apartments also growing in Wellington and Christchurch.  With populations expanding, planning restrictions tight, and prices on the rise around the country, some New Zealanders seem ready to embrace a new way of living.

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First Home Buyers snap up state houses

One quarter of the vacant state houses up for sale have been snapped up by first home buyers.

Under the FirstHome scheme, the homes can be purchased if a person earns less than the average wage, and is not already a property owner.

Alternatively, apartments could be the answer for some Aucklander’s who want to live centrally. The number of apartment building projects is soaring, with more resource consents granted for Apartments in November 2013 than in any month since April 2008. The Auckland Council and Government have been working to free up building space.

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