Market & Finance Update | August 2021

Menique Stuart

From the sales side, we have found a surge in enquiry and instead of cancelling our auctions, we pushed on with them. This was extremely successful, with all 19 properties sold under the hammer on our virtual auction platform.

If you are want to read about how we do our online auctions click here OR tune in from 4:00PM by clicking here to watch live today.

Check out the latest:

– See agent Pat Lapalapa’s stand out sale of the week.

– Read our latest e-mag ‘The Southern’ created to showcase our properties while some of our normal channels are down.

On the financial side, there is some good news for buyers. At the time of the announcement of Level 4, the Reserve Bank announced their monetary policy – in which most expected they would lift the OCR from .25% to .50%. They left the rates on hold because they felt it was not appropriate to lift the rates because of the L4 decision.

Yesterday it was revealed in an 
interview with Bloomberg’s Deputy Reserve Bank Governor Christian Hawkesby, that policymakers considered a 50 basis-point hike and this move was definitely on the table. This is something for us to think about when the levels change. This statement surprised the market and the New Zealand dollar firmed on the back of the interview.