News

New Zealand News

House Hunting in Montreal vs New Zealand: Finding Hope in Canada

After an unfruitful day of searching for a house in Montreal, where we encountered no new property listings and faced a rejected offer, my husband and I found ourselves contemplating the prospect of committing to a financial investment for the next 25 years. During this time, we reminisced about the housing market we had left behind in New Zealand. Following a fruitless day of house hunting in Montreal, which resulted in no new property listings and a rejected offer, my husband and I were left contemplating the daunting prospect of committing to a 25-year financial investment. Then, we began reminiscing

April 17, 2023 No Comments

News

Thai Police Arrest Scammers Targeting Elderly Americans in Phone Scam Scheme

Police in Thailand seized $87 million from an international network that used contact centers to scam elderly Americans into sending money. On Wednesday, Thai authorities announced they had broken up an international network that used contact centers to scam elderly Americans out of more than 3 billion baht ($87 million). On Tuesday, police raided nine sites across four regions in Thailand, confiscating 162 bank accounts, 61 mobile phones, two vehicles, one pistol, and numerous real estate assets and arresting 21 suspects. On Wednesday, a second suspect from Thailand was apprehended. U.S. operatives participated in the operations. Five Indians and 15

March 27, 2023 No Comments

New Zealand News

Interest Rate Hikes Spark Largest Property Sales Slump in Nearly 40 Years, says CoreLogic

The clash of rising interest rates on the housing market has been significant, according to new data showing that property transactions in New Zealand have dropped to their lowest level in nearly 40 years. CoreLogic data shows that the number of homes sold in the 12 months ending in February 2023 was 60,859, the lowest 12-month total since October 1983. The number is down 32.7% from the prior year. While February’s 4100 transactions were the fewest in any February since at least 1981, a decrease of 33.1% from the same month a year ago. CoreLogic attributes the downturn to rising

March 24, 2023 No Comments

News

Severe Rain and Hail Storms Cause Property Damage Across Chiang Mai

Chiang Mai, a serene haven nestled in northern Thailand, recently faced an unexpected onslaught of heavy rain and ice, leaving a trail of destruction in its wake. Despite the resilience of its residents, the region grappled with the aftermath of nature’s fury. Nature’s Fury Unleashed: On a seemingly ordinary Saturday, Chiang Mai was thrust into chaos as heavy rain and ice wreaked havoc across the landscape. Homes, utility lines, trees, and signs bore the brunt of the onslaught, showcasing the raw power of nature. Despite the intensity of the storm, the community rallied together, displaying remarkable resilience in the face

March 20, 2023 No Comments

New Zealand News

New Zealand Housing Market Predicted to Plummet to Great Recession Lows, says ASB.

New Zealanders’ hopes for home prices have dropped to levels not seen since the Great Recession. Compared to last year at this time, when 49% of respondents expected prices to rise, this year’s ASB home optimism poll found that 43% expected prices to decline. At the height of the GFC, 55% of respondents in July 2008 predicted lower costs in the coming year. ASB senior economist Kim Mundy predicts housing mood will decline even further, even though forecasts haven’t yet reached rock bottom. “The housing market has been weak of late, and it doesn’t look like it’s going to turn

March 10, 2023 No Comments

New Zealand News

Cyclone Gabriel: New Zealand searches for missing as death toll rises

Fearing the mortality toll from Cyclone Gabrielle will rise, New Zealand is still looking for individuals who went missing after the storm. Five verified deaths have occurred due to the cyclone’s destruction of significant portions of the North Island, which resulted in landslides and inundation, displaced thousands of people, and left many towns without electricity and running water. In a press conference Thursday night, Prime Minister Chris Hipkins assured the public that “every possible resource” was being used to locate the missing and save those who were identified but were still inaccessible. Damage was severe in Gisborne, where I’ve just

February 13, 2023 No Comments

Australia News

Why first-time homebuyers are at a five-year low

As a result of increasing mortgage rates, decreasing costs, and the fear of investing in a sinking market, the number of first-time homebuyers has dropped to levels not seen since 2017. According to ABS data, only 7646 first-time purchasers obtained mortgages in December. New lending agreements have been relatively low since June 2017 (7,642). Ray White chief economist Nerida Conisbee stated that first-time purchasers were discouraged from purchasing due to the possibility of future Reserve Bank interest rate hikes and the associated ambiguity. Both purchasers and vendors were scared off, which reduced the number of houses available for sale and

February 8, 2023 No Comments

Featured

As China reopens its border, Thailand implements new entrance rules.

As Thailand readies itself for an anticipated surge in visitors following the reopening of China’s borders, the country’s aviation authority has swiftly implemented stringent measures to ensure the safety of its populace. With the resumption of international travel, Thailand is taking proactive steps to mitigate the risk of COVID-19 transmission and protect public health. In light of the evolving global pandemic situation, the Civil Aviation Authority of Thailand (CAAT) has announced robust protocols for inbound travelers. These measures aim to safeguard both tourists and local residents against the potential spread of the virus, particularly in densely populated areas and tourist

January 17, 2023 No Comments

New Zealand News

Nearly 40% of all homes for sale have had their prices reduced.

New data shows that the price of almost 40% of properties that were listed with a price in 2022 was later cut. According to new information from realestate.co.nz, property owners are hesitant to advertise their homes for sale. Across the country, December had a 26% decrease in new property listings compared to December 2021. In the last month, only Taranaki and Coromandel had more postings than they had a year ago. However, there remained a wide variety of other homes from which to choose. Coromandel, Nelson and bays, Taranaki, and the central North Island all had more than double the

January 16, 2023 No Comments

Investments

Should you purchase a London house in 2023, as mortgages outpace renting?

Despite declining home costs, renting in the nation’s capital has surpassed buying for the first time in 13 years. In this case, it’s essential to consider if you should enter a volatile market or wait it out. In London, the cost of mortgage payments has surpassed the cost of rent due to increasing interest rates, the cost-of-living problem, and mounting worries about a recession. Buying a home in the capital is now more expensive than renting by £832 a month, according to exclusive data reviewed by Homes & Property, even though house prices have begun to decline. Many first-time buyers

January 13, 2023 No Comments