New Zealand Finance has bought the residential division of mortgage brokers Property Pack in Wellington and expects to make a return of 50% pre-tax on this investment in the first 12 months.

Auckland

Weekly Home Loan report: It is a relatively benign environment on the interest rate front at the moment meaning that very few changes in home loan rates are coming through and no major competitive plays in progress.

Macquarie Financial Services Group and Standard & Poor’s have produced a book to help investors better understand fixed interest investments.

Auckland

New book on understanding fixed interest; Options portfolio has happy first birthday; White knight delivers; Ginseng for all advisers; Unlisted happy with minister, NZX grumpy.

Latest Quotable Value statistics show the growth in property values is continuing to edge upwards, with residential properties increasing in value by 14.3% over the 12 months to July, up slightly from 14.2% annual growth to June.

House price expectations have dropped slightly but market expectations are for a “soft landing” for the housing market, according to findings in the latest ASB housing confidence survey.

Fidelity Life has expanded their Wellington office to include an underwriting centre.

Commerce Minister Pete Hodgson today welcomed the report of the Financial Intermediaries Task Force.

The Financial Intermediaries Task Force today released its final report with recommendations to the government for a package of measures designed to increase confidence for consumers in dealing with financial advisers and marketers.

The Auckland property market has produced a strong result in what is traditionally a quiet time of the year for residential sales, with good volumes and prices against a backdrop of a looming listings shortage.