“They shall grow not old, as we that are left grow old;
Age shall not weary them nor the years condemn.
At the going down of the sun and in the morning
We will remember them.”
Statement issued by Reserve Bank Governor Graeme Wheeler:
The Reserve Bank today increased the OCR by 25 basis points to 3 percent.
New Zealand’s economic expansion has considerable momentum, with GDP estimated to have grown by 3.5 percent in the year to March. Growth is gradually increasing in New Zealand’s trading partners, but inflation in those economies remains low. Global financial conditions continue to be very accommodating.
Prices for New Zealand’s export commodities remain very high, though auction prices for dairy products have fallen by 20 percent in recent months. Domestically, the extended period of low interest rates and strong growth in construction sector activity are supporting the recovery. Net immigration continues to increase, boosting housing and consumer demand. Confidence remains very high among households and businesses, and measures of investment and employment intentions are positive.
Spare capacity is being absorbed, and inflationary pressures are becoming apparent, especially in construction and other non-tradable sectors. The high exchange rate remains a headwind to the tradables sector, and along with low import price inflation has been holding down tradables inflation. The Bank does not believe the current level of the exchange rate is sustainable.
There has been some moderation in the housing market. Restrictions on high loan-to-value ratio mortgage lending are easing pressure, and rising interest rates will have a further moderating influence. However, the increase in net immigration is adding to housing demand.
Headline inflation is moderate, but inflationary pressures are increasing and are expected to continue doing so over the next two years. In this environment it is important that inflation expectations remain contained. To achieve this it is necessary to raise interest rates towards a level at which they are no longer adding to demand. The speed and extent to which the OCR will be raised will depend on economic data and our continuing assessment of emerging inflationary pressures, including the extent to which the high exchange rate leads to lower inflationary pressure.
By increasing the OCR as needed to keep future average inflation near the 2 percent target mid-point, the Bank is seeking to ensure that the economic expansion can be sustained.
We take great care and pride in the way we present properties to the market. There is no truer saying than ‘You only get one chance to make a good first impression’ and it is not just buyers that notice the quality of marketing. We are regularly asked to provide content for some of the most prestigious publications available, providing complimentary, outstanding market penetration to our vendors.
This week we have the pleasure of featuring a waterfront Bay of Islands home as the Wall Street Journal’s ‘House of the week’. Another property in Paroa Bay, Russell was recently featured in ‘Inside Out’ magazine, Dubai. ‘Luxury Homes of the World’ South Africa and ‘Home Style’ magazine China have also chosen to feature some of our properties recently giving us serious exposure to our prime target markets.
For more information on this listing follow this link to Riverview Road, Bay of Islands
16 The Mews is positioned in the most sought after area of the prestigious Millbrook Resort, a three hundred metre stroll will take you to the various restaurants, tennis courts, fitness centre and indoor pool. Situated on 480 square metres of freehold, mature grounds, this stand alone and fully fenced cottage awaits your immediate attention.
The cottage comprises three generously sized bedrooms all benefitting from an abundance of natural light , three bathrooms and a large open plan kitchen, lounge and dining area. An attached double garage and two off street guest parks complete this wonderful opportunity.
After our recent sale of Mews 8 this is an exceptional opportunity to purchase the only Mews cottage available on the market today.
For more information follow this link to 16 The Mews, Millbrook
One of the few remaining properties with acreage of this scale (over 79ha) on the Coromandel Peninsula is now available for sale for the first time since the home was built. Stunning views across the Hauraki Gulf – over Waiheke Island to Rangitoto Island and beyond to the sky tower in downtown Auckland.
The four bedroom home has been built to the highest quality with architecture that captures the best of the environment from every room. Only a short drive to Coromandel township the location offers privacy and seclusion with amenity just around the corner. Viewings are available by appointment and need to be arranged in advance.
For more information on this stunning opportunity follow this link to Papa Aroha, Coromandel Peninsula
Set in its own rural enclave, less than 3kms from Arrowtown lies this stunning 7.5 acre sanctuary.
The spacious 4 bedroom 5 bathroom home is north-facing taking in long hours of sunshine and uninterrupted views of Coronet Peak. Everything you would expect in a build of this quality has been thoughtfully executed from the impressive dining room to the peaceful living areas and beyond to the external features of the property.
For more information on this latest sale follow this link to Centennial Avenue, Arrowtown
At the end of Pigeon Rock Road sits this private, elevated home in the unique landscape of Bannockburn. The landholding spans 23 acres and overlooks neighbouring horticultural blocks of vineyards, cherry orchards and olive groves . Extensive views take in wide mountain vistas of the Pisa Range and Mount Difficulty then beyond to Lake Dunstan.
The house itself underwent extensive renovation in 2013 with particular attention given to completing a home of very high standard. The result is a contemporary 324sqm residence with two large bedrooms in the main dwelling and two sleeping areas in the attached open-plan barn. Clearly this unique environment has inspired the internal design incorporating natural materials including schist, wooden beams, tiled floors, composite granite bench top and the polished concrete floors of the barn.
For more information follow this link to Pigeon Rock Road, Bannockburn
Just a few hours drive north from the Bay of Islands, the 90-mile beach has just played host to the 2014 Snapper Bonanza. Northland really turned on the weather and anglers from all corners of the globe made the best of the stunning conditions.
Competing for cash and prizes worth a total of $100,000, over 700 competitors managed to land a record number of fish with the winning effort, weighing in at 9.99kg being caught in the first few hours of the 5 day tournament. With this big a prize pool up for grabs this competition is going from strength to strength and is now the biggest land based competition of its kind in the southern hemisphere!
An excellent Queenstown Hill location combined with a quality home creates a well built property only a few minutes from central Queenstown.
The open plan kitchen and dining room leads into a very cosy living area with an open fire and amazing views over Lake Wakatipu and the Remarkables Mountain range.
Also featured are five bedrooms, two of these are master bedrooms with ensuites, and a large double car garage. The big all weather outside deck takes advantage of these fantastic views and features a large open fire – perfect for al fresco dining.
For more information on this latest sale follow this like to Hensman Road, Queenstown
This Palm Springs house features clean lines and open spaces, it is a mid century style home by architect Michael Johnson.
“A spectacular large swimming pool is the focus point at the front of the property, with all of the open plan living areas spilling out to surround it. The minimal colour palette of whites, greys and beiges has been achieved by incorporating a variety of muted materials such as concrete bricks and tiles, natural stone and floor to ceiling glass.” via Design Folio