In an unwelcome Valentine’s Day surprise, we have moved into Level 3 for Auckland and Level 2 elsewhere from 11.59pm yesterday for the next three days.
Our commitment to provide the support you need remains our central focus, and obviously supporting you through this time of uncertainty is our priority. If you have any enquiries, please get in touch with our lending managers.
It has been a stunning start to the new year. Already this year, the value of our new lending facility has reached $50,000,000, with more than 60% of the value of this new facility coming from existing clients. These clients have either successfully completed or are completing their property developments with our financial support – our fast response, solution-driven attitude, and ‘do what we say we will’ approach give their projects a powerful boost.
Many of our clients come to see us as a professional friend, seeking our opinion on the property or land they are looking to develop before they buy, and we are happy to be able to help them at every step toward success.
As we have noted, the impact of the COVID-19 pandemic led to a significant drop in interest rates in 2020. This shift in rates is buoying the residential property sector and has begun to re-price the market. We are seeing strong demand for new-build housing, particularly in the affordable terraced, semi-detached and detached housing stock, which falls in the $800,000 to $850,000 price range. Housing at this price point is currently the most popular. Accordingly, the demand for land in medium- to high-density zones is now hotter than ever. Besides the residential property sector, we are also lending on commercial properties, so please get in touch with our lending managers for our latest rates.
We hope you are having a prosperous new year, and we look forward to doing business with you in 2021.