Is New Zealand a good place to take out credit?
When it comes to applying for home loans and getting up on the property investment ladder, we can sometimes lose sight of the bigger picture. Payments seem a little bit bigger and the benefits of investing in a home look further away when we focus on the short term . However, it's important to stay focused on the long game and remember that buying up investment real estate is something to benefit you in the long-term.
This can be particularly true to small and medium business owners in New Zealand, who have a whole host of factors to manage every day. But with this in mind, the latest Doing Business survey is a welcome reminder of New Zealand's great position on a global scale for making investments and setting out plans for the future.
Covering 189 economies, this Doing Business project looks at 11 different financial indicators of the health of these small and medium businesses and how they are performing.
And New Zealand? Well, we're doing pretty well in a lot of areas.
We aren't just ranked first for the ease of registering businesses and protecting minority investors – we're right up the top for getting property as well. For the second year running, New Zealand was the top ranked country in the survey for getting credit, and also second ranked for registering property.
By looking at borrower rights and the legal protections in place for New Zealanders getting credit, the survey found that we're a great place to be taking out funds.
This bodes well for anyone who wants to invest in property, which seems to be a lot of you! Recent CoreLogic statistics showed that a whopping 42 per cent of all home sales were going to investors.
To find out more about your buying and investing options, you can come and speak to us here at Goodlife for property investment advice.
Here's to your financial independence!
Authorised Financial Adviser / Investment Property Expert