Hi, it's Maxim here. This newsletter is about personal finance, Auckland property tips and NZX stock market insights. I appreciate you being here!

You will learn:

● Residential Property Data from the Real Estate Institute of NZ (REINZ) - 12 March
● Heartland Bank Launches the Cheapest Online Home Loans
● Top 2 Gainers & Top 10 Losers Over the Last 7 Days (NZX Stock Market)

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Residential Property Data from the Real Estate Institute of NZ (REINZ) - 12 March
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🕑 3-minute read

The report was released on 12 March. Looking at the Auckland market, the region overall had the highest median price in 35 months at $888,000 and North Shore City saw a record median price of $1,155,000. Waitakere City had a record equal median price of $830,000 – the exact same price as last month reflecting that combination of an uplift in confidence and low interest rates.

In Auckland, the number of properties sold in February increased by 41.6% year-on-year (from 1,390 to 1,968) – the highest number of residential properties sold in the month of February in 5 years.

The Auckland market saw the biggest annual increase in sales volumes in 88 months with a 41.6% increase in the number of properties sold when compared to the same time last year. All seven districts in Auckland saw double-digit annual increases in sales volumes, the largest of which was Papakura District with an 83.6% annual increase.

Auckland saw the median number of days to sell a property fall by 17 days from 56 to 39 year-on-year – the lowest days to sell for the month of February in 4 years.

Auckland had the second highest percentage of auctions in the country with 32.4% (637 properties) sold under the hammer, up from 21.4% (298 properties) in February 2019 – the highest percentage of auctions for Auckland in 27 months.

Looking forward over the next few months, if we see a further reduction in the OCR by the Reserve Bank, this may encourage more buyers into the market.

Have I missed anything? What do you think will happen by the end of 2020?
Heartland Bank Launches the Cheapest Online Home Loans
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🕑 2-minute read

Despite the next Official Cash Rate (OCR) announcement being a couple of weeks away yet, it seems that banks are already starting to lower their mortgage rates.

For the first time, Heartland Bank is ahead of the rest with a remarkably low 2.89% for one year. The next closest to them is HSBC with a rate of 3.20% and China Construction Bank is competing with 3.15%. The closest main bank is currently ASB’s ‘special’ one year rate of 3.39%.

Heartland Bank’s slashed rates were a surprise and it's unlikely that the other big banks will follow suit. In saying that, Westpac did cut their interest rates in the three to five-year space. Westpac is currently offering three years at 3.69%, four years at 3.79% and five years at 3.89%.

It may take another push from the likes of TSB, SBS or Kiwibank to also go below 3% for the big banks to really chop their interest rates as well.

Heartland has not been active in the home loan market for some time. Did you see that coming? 
Top 2 Gainers & Top 10 Losers Over the Last 7 Days (NZX Stock Market)
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🕑 2-minute read

NZX50 index is down by over 14%. Only two stocks managed to grow! Are you investing at the moment? What do you think among them is a good opportunity?

I think the stock market is going to get even worse unless the NZ government pulls out a rabbit out of a hat this month and offers a massive support for all affected people.

Travel stocks reacted strongly to the USA travel ban news. Vista Group said it wasn't expecting the bulk of its cinemas in China to reopen until early April.

I can't imagine too many people rushing to the cinema in New Zealand or anywhere else in the world.

Aged-care firms also came under pressure as investors became wary of the retirement village operators because their residents were more vulnerable to the virus outbreak.

Australia's financial sector was among the hardest hit as investors weigh up what further interest rate cuts by the Reserve Bank of Australia would do to banks' margins.

The New Zealand market is down around 19 per cent from its peak on February 21, while the Aussie market is off about 22 per cent. The US is off 20 per cent. 

Source: BusinessDesk
“Everything that needs to be said has already be said. But, since no one was listening, everything must be said again.” - Andrew Gide

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Hi, I'm Maxim, the human behind this newsletter.

I research and interview economists, tax advisors and NZ investors to find tools & tactics that you can use to save time and money.
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