Waikato Business News | February 7, 2024

Rodney Stirling
10 FEBRUARY 2024
MORTGAGE ADVICE
TOURISM
The tide is
Walking on
turning
Rodney Stirling
By CLAIRE WILLIAMSON
sunshine
By NICOLA GREENWELL
The housing market is a very cyclical
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Rodney
beast. It rises and falls as economic,
social and political factors change, and
just like the tides, over the last few years
we’ve experienced some of the highs and
lows.
In 2023, it felt like we were in a bit of
a holding pattern. There was uncertainty
about interest rates, banks competed but
no one was ever sure when that was
going to happen, and property sales were
slower than we had seen in several years.
That’s all tipped to change in 2024, for
several reasons.
Interest rates have likely peaked, and
there are cuts on their way.
Even the most bearish of commentators
are now in agreement that before the end
of 2024, we’ll likely have lower rates than
those we’re seeing now.
That’s building confidence into the
market and those who were worried
about how they might maintain an 8-9
per cent interest rate are becoming more
likely to make a property decision.
The political changes following the
formation of Government in late 2023
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have now started to bring more investors
and developers back into the market, a
segment which has largely lain dormant
for at least 18 months as they stared
down the barrel of the removal of interest
deductibility and a five-year Brightline
test. Both of these things have now been
reversed, and are likely to come into
play mid-2024, which will pump more
demand into the market.
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First home buyers have enjoyed
minimal competition for properties in
2022 and 2023 and will now start to face
rising prices.
But assistance tools like the First Home
Grant, KiwiSaver and the likelihood of
banks opening up more lower deposit
lending (to over 20 per cent of their
overall lending) is going to assist those
buyers into homes and set them up at
a time when interest rates will start
dropping and lending will become more
affordable.
My advice to those who are in a position
to buy is to take action in the first half of
the year if they can.
Prices will start to rise this year and
with that brings challenges of deposit
savings not keeping up with increasing
costs of buying a home.
In the lending world, it’s about
understanding various policy and
ensuring every client has the right fit for
them.
With bank policy and appetite for
lending, especially for business owners,
constantly changing, having the best
options on the table is key.
We’ve been here before when the tide
has come in, and we’ll be here again when
it goes out.
It’s about finding the nuggets of gold in
a sea of sand and having the right people
around you to achieve your property
goals.
• Claire Williamson is a mortgage
advisor for My Mortgage
I love summer in the Waikato and this year
has been particularly good.
The region has benefited from better weather
and more international and domestic visitors
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than last year, which, in addition to providing biggest barbeque festival, Meatstock, or the
a boost to local tourism operators, adds extra New Zealand Cheese Festival; while families
vibrancy to our towns and city.
might like to check out Wharenui Harikoa – a
We were already seeing evidence of a great meeting house entirely crocheted by hand – at
summer for tourism back in October, with Waikato Museum. There’s also the Hamilton
visitors spending $148 million across the Arts Festival Toi Ora ki Kirikiriroa, 10 days
region during the month.
filled with performing arts from music to
While we don’t yet have the figures for theatre to comedy and cabaret.
November or December at the time of writing, The Balloons over Waikato festival is coming
the momentum appears to have continued to up too and sports fans are also well catered
build, with tourism operators reporting strong for, with international cricket and polo, Waka
numbers and a diverse range of visitors. Ama, showjumping and the Z Manu World
Some attractions say they have exceeded daily Champs being held in the region in February,
visitation records, while others are operating while March sees events like Motofest and the
at capacity and many more reporting strong Middle-Earth Halfling Marathon.
bookings through to the end of the month. Each event contributes economically and
Many Waikato tourism operators also report socially to the community it takes place in – the
that more locals than usual are enjoying dollars spent directly at the event, or pre and
‘staycations’ this year, making the most of our post on the likes of accommodation and eateries,
activities and experiences, as well as enjoying help provide business income and employment
the natural attractions, cycling and walking for our people with flow-on of expenditure
trails we have across the region.
going into our wider communities. Events also
Hamilton & Waikato Tourism’s upcoming build local pride, develop legacy benefits and
campaign encourages domestic travellers to help promote our region’s brand while media
make the most of the magic of the Waikato by opportunities presented by key events help
extending their summer holidays into autumn to shine a light Certified Contractorthe region as an attractive
and right up to Easter and the April
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destination for potential visitors and drive
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holidays. It targets people from some of our future travel.
key drive and fly markets, focusing on the wide I’m looking forward to getting along to as
range of things to Superfloor
see and do in the region and many of these events as possible and hope to
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see many of you there.
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aims to help lengthen the summer season for
operators.
Events are an important driver for visitation
to our region and a strong events line-up
through until the end of March is adding to
Waikato’s magic.
Foodies can head along New Zealand’s
• Nicole Greenwell is the Chief Executive of
Hamilton and Waikato Tourism
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EXPERT CONCRETE GRINDING, POLISHING & SEALANTS / COATINGS FOR FLOORS & WALLS
EXPERT CONCRETE GRINDING, POLISHING & SEALANTS / COATINGS FOR FLOORS & WALLS
EXPERT EXPERT Rodney CONCRETE CONCRETE GRINDING, GRINDING, Stirling
POLISHING
POLISHING & SEALANTS SEALANTS / COATINGS FOR FOR FLOORS FLOORS & WALLS
WALLS
EXPERT CONCRETE GRINDING, POLISHING SEALANTS / COATINGS FOR FLOORS & WALLS
EXPERT CONCRETE GRINDING, POLISHING & SEALANTS COATINGS FOR FLOORS WALLS
Rodney Stirling
Stirling
Rodney
Rodney Stirling
Rodney Stirling
www.thepolishedconcretecompany.co.nz
www.thepolishedconcretecompany.co.nz
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