News in brief: New Auckland adviser at Mortgage Express

by Maya Breen02 Mar 2016
New Auckland adviser at Mortgage Express 
Mortgage Express has announced the appointment of mortgage adviser Di Su, Voxy reports. Originally from China and fluent in Mandarin and English, Su has a background in sales and accounting with a strong emphasis on customer service and negotiating.

Su will join the Auckland team assisting with advice on pre-approvals, first home loans, mortgages and commercial loans.

"I have an excellent understanding of the processes involved in buying property, land subdivision and building new property. I’d like to share my experience and knowledge with my clients, to guide them every step of the way and ensure that the home buying process is a smooth one," says Su.

General Manager of Mortgage Express New Zealand Sarah Johnston, says "Di is well-known for his strong customer service ethic, firm sense of responsibility, and positive, up-beat attitude. He is able to problem solve at a high level and possesses compelling negotiation skills, both important when working towards finding the right financial solution."

NAI Harcourts releases Key Assets portfolio showcasing NZ’s ‘robust commercial property market’
The portfolio includes more than 60 commercial properties and businesses for sale and lease. General manager Greg Clarke says the portfolio is an excellent snapshot of the country’s healthy commercial property market.

“Continued low interest rates, low inflation, low unemployment and increasing immigration combine to make for a healthy commercial market, but without the hysteria that’s been associated with the residential market, particularly in Auckland," says Clarke.

“Different criteria is used in financing a commercial property. Often in the residential market greater emphasis is placed on details of the property being purchased. With commercial property, banks and other financial institutions generally take a wider view with greater emphasis on the borrower.

“This can provide opportunity for successful business owners to purchase their own premises. It seems obvious that a prospective tenant, attractive to a landlord, may also be considered by a financier to be a good risk for financing a purchase perhaps outside their normal lending criteria.”

Australia holds nerve on rates, defying a wave of global easing
(Bloomberg) -- Australia’s central bank held its policy nerve in the face of global easing and financial market upheaval that’s frustrating efforts to shift the economy away from mining. Yet it reiterated that limited price pressure provides scope to ease rates further.

Reserve Bank of Australia Governor Glenn Stevens and his board left the cash rate at 2 percent Tuesday, as forecast by all 27 economists surveyed and in line with traders’ bets. Stevens, in a little changed statement, repeated that he was watching the nation’s labor market and global and domestic fallout from market turmoil.

“The board judged that there were reasonable prospects for continued growth in the economy,” Stevens said today. “With growth in labor costs continuing to be quite subdued as well, and inflation restrained elsewhere in the world, inflation is likely to remain low over the next year or two.”

The economy’s outlook is a reversal from late last year, when the record-low cash rate and a falling Aussie dollar lifted business conditions and fueled hiring in tourism and education, suggesting the economy had turned the corner. But in the past week alone, the collapse of a major retailer has cost about 2,500 jobs and crumbling commodity prices prompted a large miner to announce plans to fire 1,750 people. 

One area where Stevens did amend his language was a tweak in the final sentence, saying low inflation “would” provide scope for easier policy, rather than “may,” as in last month’s statement. Since the RBA’s Feb. 2 meeting, domestic data has been almost uniformly negative: retail sales stagnated, business conditions deteriorated, wage growth slowed to a record low, investment plunged and unemployment unexpectedly spiked to 6 percent from 5.8 percent.

“The word ‘would’ seems stronger than ‘may,’ and therefore we can only conclude that the bank has somewhat strengthened its easing bias,” said Bill Evans, chief economist at Westpac Banking Corp. in Sydney. “We believe the board is still some way away from delivering on this.”

The Australian dollar rose slightly after the decision, trading at 71.36 U.S. cents at 4:51 p.m. from 71.17 cents before the release. Traders are pricing in at least one rate cut in the next six months.

The local currency has climbed since touching a near seven- year low in mid-January. Stevens nevertheless held to his views, reaffirming that “the exchange rate has been adjusting to the evolving economic outlook.”

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