January 2009

Between now and tomorrow lies the future. Some hours, minutes or seconds can change our lives. We all look back sometimes. And why shouldn't we? The past has created us to who we are now. But more than all, looking forward is what makes life so beautiful.

Wishing you and all your loved ones a Happy, Safe and Prosperous New Year.

And what a start to the new year!!

  • Great sunny weather more or less all over New Zealand with so now and then a little watering welcomed by all.
  • A Government that appears to be alert to what is happening in New Zealand and other countries and acts upon their findings. Critics may disagree, to me however, it appears that the PM has everything well organised and covered.
  • A new road connecting Auckland with the north of the country through a fantastic toll road cutting the travel time significantly. Why only one lane and not a double lane remains remains for me a question.
  • With regards to Terra Nova Consultancy Ltd, December and January have been excellent. Long may it continue!

This month I would like to quote the former CEO of General Motors, Lee Iacocca; " The ability to concentrate and use your time well is everything if you want to succeed in business. If you want to make good use of your time you've got to know what is most important and then give it all you've got!"


December 2008

A short month with many people visitng my office to try to sort out their immigration issues and or status. In the majority of cases we were successful despite the upcoming festive season, meaning that case officers may not have been able to respond as normal to our queries. That is to be expected , that is normal and once explained the clients do accept that.

What else happened?

  • The Reserve Bank delivered on the widespread anticipation of a major cut in the Official Cash Rate (OCR) by reducing it one and a half percentage points, from 6.5% to 5%.
  • Although the size of the cut was unprecedented, it was in line with our Economists’ expectations. The Reserve Bank said key factors in the decision were the ongoing turmoil in financial markets, the marked deterioration in the global growth outlook, and the negative flow-on effects of this on the New Zealand economy.
  • Since July, the OCR has fallen by 3.25%. The Reserve Bank expects this lowering of interest rates, along with a depreciating New Zealand dollar and fiscal stimulus from the government, to help support the economy and create the conditions for a rebound in growth.
  • The Reserve Bank said they still had concerns over domestic inflation, citing electricity prices and local body rates in particular. However, they expected that weaker growth and falling petrol prices will help inflation return comfortably to within their target range of 1% – 3%.
What does it mean?
  • The Reserve Bank said further reductions in the OCR would depend on what happens in the global and domestic economies.
  • However, our Economists expect further reductions, with the OCR ultimately likely to fall below 4%.
  • Future cuts are unlikely to be on the same scale as todays. The most likely scenario is a series of 0.5% cuts, though a larger move still cannot be ruled out.
  • The Reserve Bank said they expected financial institutions to pass on the reductions in wholesale interest rates to their customers.

How does the OCR affect home loan interest rates?

The OCR is set every six weeks by the Governor of the Reserve Bank. The Governor sets this rate to manage inflation, based on what’s happening in the economy. The OCR is one of many indicators, including overseas interest rates and wider economic developments, that affect short term interest rates such as floating rates and one and two year fixed lending rates.

Wishing you all a Merry and Blessed Christmas and a Safe, Happy and Prosperous New Year. See you in 2009!!!

Contribution from the National Bank of New Zealand


October 2008

Spring is in the air - so be prepared. As a youngster I still can remember my mother doing the once yearly big spring-clean, cleaning the house from top to bottom. Well, we have done the same, cleaned our offices and ...... on the 3 October 2008 we received our IAA Licence !! This means that I am now an IAA Licensed Immigration Adviser number 200800214. In other words, we too are now prepared for the coming year to operate under the new immigration licensing sheme.

What it means to me? A variety of things such as;

  • The license is proof that I have the capacity, knowledge and expertise to do immigration work to a high professional standard, a standard that has been scrutinised by the IAA in the License application process
  • A License is a guarantee to you, my clients, confirming that you are assisted by a professional. It may provide you a level of confidence and may be sen as a symbol of trust.
  • You as client/customer are protected as an IAA Licensed Adviser has to abide by the IAA Code of Conduct
  • It brings more repect to the profession, similar to an accountant, lawyer or doctor

Reference to the house market, according to real estate sources and bank sources, it's been very quiet in the housing market over the past few months - but that could be about to change.

Spring is often a busy time for buying and selling houses, for a number of reasons. With the days getting longer and the weather getting warmer, buyers start to think about looking for their new dream home. People moving or transferring in the new year start making arrangements and looking for a place to live. And sellers start to think about getting their home ready to show at its best in the warmer weather.

There are a number of other factors that may help to boost the housing market this spring. The tax cuts which came into effect on 1 October, will put more money in many potential buyers' back pockets. And housing affordability, until recently at record highs, has begun to improve as house prices have begun to drop.

If you are in the market for a new home, you'll want to be ready for the new homes that may hit the market over Spring. You use handy checklists to make sure you're crystal clear on exactly what you're looking for and what you can afford, before you start looking.

Such checklists and or worksheets may include:

  • Budget worksheets - so you know how much you can put towards your repayments.
  • Costs of buying a home - so you know exactly what it will cost you.
  • 'What do you want in a home' - to help you understand what's most important - and what you could compromise on.
  • Home viewing checklist - to help you compare different properties.
  • House inspection checklist - to help you identify any problems or issues.
  • Schooling - to identify the needs of your children
  • Access to third party service providers - to hospitals, gp's, dentists, pharmacies, shopping centres, movie theatres, sport clubs, public transport
  • etc etc




November 2008

The below informstion was published in November as it relates to the past month's perfromance and business outlook.

Business confidence plunged in October. A net 42 percent of respondents now expect general business conditions to deteriorate over the coming year. That’s a massive 44 point turnaround from September and is the largest one month fall in the history of the survey. Every sector is now dismal about the future, and every sector contributed: retailing down 50 points, construction 33, manufacturing 31, agriculture 30, and services down an eye-popping 55 points.

The picture is just as grim across the remainder of the survey. Firms’ own activity expectations fell from plus 17 to minus 11. This is the second lowest on record (the all time low is minus 19 in April 1988) and the largest intra-month decline. Employment intentions dropped to a historical low. A net 21 percent of respondents expected fewer staff, down 15 points, and hit a historical nadir. The negative streak has extended to nine months. Investment intentions are now minus 13, and profit expectations fell to a net minus 32 percent. Export intentions went from plus 29 to plus 11.

Fewer respondents expect lower interest rates, with a net 49 percent expecting lower interest rates in the year ahead – down from a net 63 percent last month. This is not necessarily a sign that they see less chance of a reduction in the official cash rate – set by the Reserve Bank – but they are wary as to the offsetting influence the global scene may have on rates.

Contribution from the National Bank of New Zealand


September 2008

Property Focus as seen and assessed by the National Bank of New Zealand;


Our monthly Property Focus publication is aimed at providing investors and prospective homeowners with an independent appraisal of recent developments in the property market, as well as our favoured mortgage borrowing strategy. In this issue we comment on the turmoil around the globe and update our regional demand-supply housing balance measures for data to June.

The month in review

The aggressive interest rate cut by the Reserve Bank in early spring foreshadows the direction for mortgage rates over the next four seasons. Meanwhile, house sales and consent issuance remain in the doldrums.

Property gauges

Following the Reserve Bank's aggressive 50bp cut to the Official Cash Rate, mortgage rates have fallen. House prices have edged down, and accordingly so too has house affordability, as it continues the descent from a recent high. A dark cloud on the horizon is a weaker outlook for the global economy, which will dampen prospects here for a while yet.

Economic backdrop

A patchy period of economic growth can be expected as the economic drivers switch from the spending to the earning side of the economy and the economy continues to "rebalance". Meanwhile, the credit related economic slowdown that began in the US, has spread to other corners of the globe and this presents a key risk for the NZ economy.

Mortgage borrowing strategy

With the RBNZ accelerating and front-loading the easing cycle, the big picture remains tilted towards relatively short-dated borrowing. We continue to recommend targeting a rate of one year.

Comment - Global watch

We've seen a lot of turmoil of late, in what some commentators are saying is the worst financial crisis since the 1930's. While we need to be wary of "Chicken Little" style analysis, NZ will be impacted. While the Reserve Bank is throwing an interest rate lifeline to the housing market, the collective impact on the entire economy is still negative.

Feature article - Housing supply vs. demand balance

We have updated our demand-supply housing balance measures for data to June. In summary, the analysis confirms what is widely acknowledged - it's a buyers market at the moment.

At the National Bank we're always reviewing our services to ensure they're as up to date and relevant as possible. So from the next issue of Property Focus, you'll notice a new look to the email notification we send you - although the content of the report will still be the same.

The above is a contribution from the Nationa Bank


05/12/19 - Update BMB

Details on BUSINESS applications as from today:

  • Allocation to a CO within a week
  • Decion time frame between 2 to 3 months
  • EWV applications 20% approval rate
  • Entrepreneur residence 50% approval rate

21/11/19 - Policy update, the NEW way

For more information, please click here

IPT Decisions

The quality of decisions from INZ appear to decrease! Please refer to the Annual Report from the IPT for 2017 where on average 33% of Appeals with the IPT is allowed! A news paper article in 1 NEWS NOW dated 21/02/2019 confirms that four out of every ten appeals against INZ are upheld! That is an increase from 33% to now 40% of appeals being allowed or upheld against INZ!

Licensed Adviser

Johannes Petrus (Peter) Hubertus Cornelis Hendrikx

Licensed Immigration Adviser
License number: 200800214

Is your Immigration Adviser
licenced by the NZ Government?
Click here for details www.iaa.govt.nz

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Terra Nova Consultancy is proud to have played a part in sponsoring Special Children's Christmas parties.certificate

Terra Nova Consultancy Ltd
14 Glanworth Place, Botany 2106
Manukau, Auckland 2106,
New Zealand
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Please arrange visit by appointment.

Mobile: +64 275 706 540

Postal Address:
PO Box 58385, Botany
Manukau, Auckland 2163,
New Zealand

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