Amber Haddock "Increase in OCR effecting Property Market"

http://www.interest.co.nz/property/69100/alistair-helm-assesses-how-property-market-will-react-and-handle-coming-interest-rate

Blog 3

The article presented above was written March 24 2014 in acknowledgment of the latest increase in the OCR (official cash rate). The article goes into detail about how the recent increase of 0.25% will add to mortgage payers on average for a close to 500k house about $53.00 a month and "Of equal concern to most home owners with a mortgage is the likely impact these rises in mortgage rates will have on the property market, both in terms of levels of activity and price."

Main focus point featured in the article: Increase in OCR effecting mortgage rates.

This article relates to Welly Real-Estate as it talks about how the OCR increase will effect the property market and likely to impact mortgage rates which means through the business there maybe a significant increase in house prices and scare off willing home buyers for now.

My advise for Welly Real Estate is to again push advertising and maybe decrease the amount commission in regards to hold onto potential clients and spread a name for the business if a house is sold under the business this way the business is likely increase there cliental base which will come at a small cost however will be beneficial in the long term.

Work Cited:

Helm, A. "Interest rates rise". Web. March 24. 2014. 

http://www.interest.co.nz/property/69100/alistair-helm-assesses-how-property-market-will-react-and-handle-coming-interest-rate