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Mortgage wars should spark boost to lending

Mortgage lending was slashed to about half of normal levels last month due to Covid-19 restrictions but economists say the latest round of ‘rate wars’ should spark some renewed buyer and seller enthusiasm. For those keen on picking up a sharp mortgage, record low wholesale rates have seen Kiwibank drop its one-year fixed rate to 2.65 per cent, with both…

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Regulating property managers

New Zealand’s Real Estate Institute says the government should regulate property managers, not focus on banning letting fees, if it wants to help renters. Submissions close on Wednesday on the proposal to stop landlords charging letting fees to tenants who want to secure a property. These fees are often equal to a week’s rent, plus GST. But Real Estate Institute…

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Wanaka

Rental rules introducing 28-day limit for Wanaka

Proposed rule changes for residential visitor accommodation will be notified tomorrow, changing the landscape of short and long-term accommodation in the Queenstown-Lakes district. In Wanaka, well-known for its large quantity of empty houses, people involved in the industry are not sure what impact it will have. The new rules will have the most effect on absentee owners wanting to rent out their…

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