That is some serious heat in the Hawke’s Bay sun last week which will have new residents singing about the region’s amazing weather but I’m sure will have many in our rural sector very concerned about the long summer ahead. I still cannot understand from a layman’s perspective why the Ruataniwha Dam never received the green light given what huge benefits it would’ve delivered for our region.
Good news for prospective home buyers and property investors with word from the Reserve Bank this week that they are to ease lending restrictions from January 2018, increasing the cap on banks from 10 per cent to 15 per cent for new mortgage lending to owner occupiers with less than a 20 per cent deposit. This is particularly exciting news for first home buyers who often struggle to get together a large deposit in this buoyant market. The new regulations will also mean an ease on restrictions for property investors who currently require a 40% deposit for secondary properties to now sit at 35% – this may reduce further as the reserve bank continues to ease its restrictions on the property market.
The Bay has a real buzz at the moment with businesses performing well and many re-locating from other cities or starting up in the region. Great to see lots of new bars, restaurants, retailers and accommodation providers opening to cater for our growing tourism industry, with tourism spend in the region for the year at $621 million, up 8% from this time last year – we are now a true national destination. Interest in purchasing property continues, with big numbers at open homes and lots of buyer interest.
This is the time of the year when many buyers will make decisions as they try to finalise their purchases prior to the Christmas break. We will be working and negotiating contracts right up to Christmas Day. As for our last Tremains REAL Magazine, this will come out on the 22nd of December and be around for four weeks over Christmas. If you are looking for the very best time to have your property exposed to ‘passive buyers’ or that out-of-town buyer who might just pay you what you would sell for, then you need to be prominent in this publication. We are offering great discounted prices on pages in our last issue, so make sure you contact your local Tremains agent for more information.
At Tremains we are all geared up for the festive season. We have our Santa’s Cave running at our Havelock North Tremains office over December – come along and take a photo with Santa and pick up some Christmas goodies for the kids. Haven’t got your Christmas wrapping sorted? No worries. Come and visit our Napier team on the 16th of December outside our Tremains Napier office at 202 Hastings Street for free gift-wrapping. Tremains Christmas Lights are also running throughout the month of December, right up until Christmas Eve. Make sure to pick up a copy of the maps from any Tremains branch and do a self-tour with family and friends. Pop on your favourite Christmas carols and get into the Christmas spirit!
Enjoy the run up to Christmas – busy time of the year, but plenty of festive fun.