NZ up interest rate to control red hot property market

[phantom_opera]

Hot on the heels of today's 25 basis points increase to the Official Cash Rate, the country's biggest bank has unveiled increases to its floating and flexible mortgage rates and "Serious Saver" savings account

The increase will see ANZ's floating mortgage rate rise to 5.99% from 5.74%, and its revolving credit 'Flexible" rate will rise to 6.10%.

The change is effective from 17 March for new borrowers, and from April 1 for existing lending

[Royston8H]

Will this affects the current ANZ package in singapore? Perhaps likely so.

[Arcachon]

By Geoffrey Lee Martin in Sydney and Paul Chapman in Wellington12:00AM BST 11 May 2001
NEW ZEALANDjet pilots made redundant by their government's axing of its fighter force are seeking jobs with the RAF and in Australia, it emerged yesterday.
About 700 air force jobs will go when the 17 Skyhawks stop flying in New Zealand at the end of the year. New Zealand cut back the combat roles of its air force and navy in a new defence policy this week that concentrates on a modern army trained for peacekeeping roles.
The New Zealand Defence Force says it will offer alternative positions in the service to as many displaced personnel as it can but will not stand in the way of any airmen wanting to join the Australian or British services. Australia has a serious shortage of jet fighter pilots, many of whom leave the service once their contracts are completed for lucrative commercial jobs with airlines in Australia and South East Asia.
Australia is attractive to New Zealanders because of close economic and sporting ties between the two countries and the military links that were forged by Anzac troops at Gallipoli in the First World War. Both countries regularly engage in joint war games. Recent figures indicate that there are only 11 operational pilots for Australia's 34 F-111 fighter bombers and 42 for its 71 F/A18 Hornet fighters.
New Zealand soldiers resorted to stealing parts from allied troops when on joint exercises because they were so short of equipment, an MP said in Wellington yesterday. As the row rumbled on over the defence review, which will see the Royal New Zealand Air Forcelose all its combat planes, Ron Mark, an opposition MP, complained that the country's armed forces had been underfunded for years.

http://www.telegraph.co.uk/news/worldnews/australiaandthepacific/newzealand/1329916/Redundant-New-Zealand-fighter-pilots-try-to-find-a-role-with-the-RAF.html

[Arcachon]

This are Great Country make of.

http://upload.wikimedia.org/wikipedia/commons/e/ed/Major_Alan_G._Roger_at_Same-Sex_Wedding_Ceremony.jpg

http://latimesblogs.latimes.com/.a/6a00d8341c630a53ef0128755f8089970c-450wi

http://www.policymic.com/articles/35937/you-ll-never-believe-what-happened-when-new-zealand-passed-gay-marriage-video


As the bill passed with 77 people in favor and 44 against, the house exploded in cheers. Spectators in the House began a powerful rendition of the New Zealand love song "Pokarekare Ana." Many MPs reached out to Louisa Wall, the sponsor of the bill to hug and congratulate her. It was one beautiful scene to watch.

Although New Zealand has allowed same-sex unions since 2005, it has now become the first country in the Asia-Pacific region to legalize same-sex marriage. According to the Associated Press, this means that gay couples will have the same rights and benefits as any other married couple, which includes the right to adoption.

[economist]

The gross rental yields are below or around 5% in some major cities (Auckland, Christchurch), this goes to show that property prices can continue to rise even if mortgage rates exceed gross rental yields.

http://static2.stuff.co.nz/1367548879/755/8629755.jpg

[phantom_opera]

just because no ABSD ... mainland Chinese buying using cash

so 6% loan rate does not affect them at all

in the medium term, it is suicidal for OZ / NZ ... I guess they never suffer from something like Asian currency crisis b4

[taggy]

in the medium term, it is suicidal for OZ / NZ ... I guess they never suffer from something like Asian currency crisis b4

i hear in the OZ news is still talking about AUD currency too strong... that's why holden, toyota leaving... so i think they not scare of currency drop leh... :D

then for locals, property negative gearing to offset income tax, is like part of their culture liao...