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News

Title: More people choosing to rent

Date: 2014-03-19

Body:

(from Fairfax News)

Home ownership has dropped to under 65 per cent, following a trend running back to the 1990s when almost three out of four families owned their own home.

Fewer people now own their homes than five years ago, with home ownership dropping most for people in their thirties and forties, according to official figures.

Some 64.8 per cent of households own their own home, or held it in a family trust, according to latest Census figures, down from 66.9 per cent in 2006. Some economists say that's likely to reflect the house price boom in the 2000s.

Poorer and younger people find it increasingly...

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Title: Interest rates may lift up to 5 times

Date: 2014-03-10

Body:

(from FairFax Media, 10/03/2014)

The Reserve Bank may lift official interest rates as much as five times this year, with the first move kicking off on Thursday, according to a Westpac forecast.

Central bank governor Graeme Wheeler is widely expected to lift the official cash rate from 2.5 per cent to 2.75 per cent this week.

That will make the Reserve Bank the first developed world central bank to lift interest rates this time round, though economists say that is already factored into the high New Zealand dollar.

Floating mortgage rates are now about 5.75 per cent, so borrowers could face rates approaching 8 per...

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Title: Think you've got the house covered?

Date: 2014-02-02

Body:

Think you've got the house covered?

(from Fairfax Media, 02/02/2014)

It may pay to check the small print of your house insurance policy, and learn a bit about exactly what damage your insurer will pay claims for because a review of the home cover cases handled by the insurance ombudsman in 2013 show the shocks some homeowners get when their insurer turns down a claim.

And, while it is up to people to read and understand the policy they are buying, the cases show how some policy wording can seem to say one thing, but insurers will argue they mean something quite different, and refuse to pay a claim, or only a part of it.
...

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