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Do You Know What Your Advisor Does I read the following article this morning and while it supports what I have always said, Strategic Asset Allocation provides more return over the long run than Tactical Asset...

Financial Advisors Deserted By Vishal Teckchandani Fri 26 Jun 2009 More than 25 per cent of wealthy clients in 2008 withdrew their assets from their wealth management firm and deserted their financial...

It's Happening Already I have been saying this for many years now and it is the main reason why the companies Financial Gain Australia and then Financial Gain NZ were started. Eventually and...

I'm in the News City suites are on the rise 4:00AM Sunday May 24, 2009 By Jane Phare Older investors are helping fuel a resurgence in the inner-city Auckland apartment market. The sector...

Completely Wrong The Reserve Bank has left the Official Cash Rate (OCR) unchanged at 2.5 percent but indicated it may cut again. It's the first time in nine reviews of official interest...

Did You Know

Today the average house price in NZ is $350,000 compared to $6,639 in 1960.

Today the average wage in NZ is $41,000 per annum or approximately $791 per week or $19.79 per hour.

So what does this mean if you are looking at buying a house.

It means this… to buy the average house in NZ if you are on the average wage in NZ you would need to work 17,680 hours to pay for the average house.

This is almost three times more than what was required in 1960.

This is based on a 40 hour week, and not allowing for spending or taking into account interest. This equates to 8.5 years

In 1960 the average house price was $6,639 with the hourly wage rate of $1.05 and to pay it off would take about 3 years according to Bernard Hickey of interest.co.nz.

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