New Zealand Interest Rates on Hold

11th May 2017: The New Zealand Reserve Bank today left the Official Cash Rate (OCR) unchanged at 1.75 percent. In his explanatory statement by Reserve Bank Governor Graeme Wheeler, said the following: “Global economic growth has increased and become more broad-based over recent months. However, major challenges remain with on-going surplus capacity and extensive political […]

Read Full Story

PRP Accredited under PIQA

Preston Rowe Paterson has spent many years developing some of the valuation industry’s most rigorous and robust compliance and quality measures within our own internal business systems. As part of our testing of our Quality Systems we have sought external validation of our processes. Preston Rowe Paterson wishes to announce that it has been re […]

Read Full Story

New Zealand’s Official Cash Rate reduced to 1.75%

The Reserve Bank of New Zealand today reduced the Official Cash Rate (OCR) by 25 basis points to 1.75 percent. In relation to the effects on the property sector, Reserve Bank Governor Graeme Wheeler said in his announcement, “House price inflation remains excessive and is posing concerns for financial stability.  Although house price inflation has moderated […]

Read Full Story

Latest National Dwelling Construction Costs

According to Statistics New Zealand media release: – “Over the year to August 2016, the average expected cost to build a home was $346,000, at $1,906 a square metre. This information comes from building consents issued. However, in practice, the actual cost is usually at least 10 percent higher. Regionally, the highest average costs were […]

Read Full Story

We’re building bigger 40 years on

According to Statistics New Zealand media release: – “Fewer homes are being built now than in the 1970s, but they are much bigger. ” The number of homes we’re building is lower than in the mid-1970s, but we’re building more in terms of total floor area,” business indicators senior manager Neil Kelly said. “This is […]

Read Full Story