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FEBRUARY 2009
Monday, February 09, 2009
Over the last 20 years I have always said the market in Wellington really gets active after our Wellington Anniversary weekend. This year has been no exception to that rule with huge numbers inspecting properties at our first weekend of open homes. Prior to this period sales activity in the $350,000-$700,000 range has been quite active, but following Anniversary weekend, inspections in the $1,000,000 plus price range have had a dramatic increase.
The Reserve Banks move to lower the OCR to 3.5% is unprecedented and it is interesting to see how quickly the major banks have moved with mortgage interest rates.
Speaking of interest rates, if you are thinking of buying or refinancing talk to Kit Jackson at Capital Mortgage Brokers, because actual rates and published rates from many of the banks are quite different. Many of our cilents are delighted with what Kit and his fellow brokers have been able to negotiate.
- Ian Paterson
