1. The Reserve Bank met on10 July 2024 and kept the Official Cash Rate (OCR) at 5.5%. Whilst the OCR may not have been reduced, it’s the comments made by the Monetary Policy Committee we need to take note of and that is that inflation is heading in the right direction.

2. There has been a noticeable increase in the rental properties coming to the market since the change in the Brightline Test from 1 July 2024. Traditionally, the market slows down in winter and bounces back in spring. With the debt-to-income ratios now in force, reasonably high interest rates and still a high cost of living, will we see these trends continue?

3. Resimac, a second tier residential rental property lender based in Australia, is leaving our shores. This has come as a surprise to a lot of mortgage brokers and will leave a huge gap in the lending market. I understand they have been losing money on their New Zealand business but it provides an opportunity for another lender to grow their loan book.