New Zealand Property Investors' Federation, (NZPIF) is the umbrella body for 20 local Property Investors' Associations throughout New Zealand.
Phone: (03) 357 9243
The Earthquake Commission (EQC) has increased its estimated Canterbury earthquakes liability by around $4 billion to $7.1 billion, Finance Minister Bill English has announced.
Median rent growth has eased from its two-and-a-half year high last month and the housing market looks set to “continue muddling along” as opposing forces interact, according to ANZ.
The Reserve Bank does not favour the kind of capital gains tax the Labour Party is proposing, saying it would only distort the property market further.
A “huge misconception” exists that investment property receives favourable tax treatment, and additional taxes could “spark an investor exodus,” according to NZ Property Investors Federation president (NZPIF) Andrew King.
Despite an increasing number of people expecting house prices to rise, overall confidence in the housing market fell during the July quarter, according to the latest ASB Housing Confidence Survey.
The average median rent for a two-bedroom property in City Bays rose 13% in the year to July 2011, while the same size property in Devonport saw an 8% fall.
The Government has today offered to buy an additional 940 earthquake affected properties in Kaiapoi and Pines Beach north of Christchurch.
IRD moves to reform the tax treatment of holiday homes will remove a “perverse” tax incentive for people to buy second, holiday homes.
The popularity of rental property as an investment took a dip in Auckland, bucking the nationwide trend, though it still remains Kiwi’s second favourite type of investment, according to the latest ASB Investor Confidence Survey.
Infometrics New Zealand Housing Outlook report examines rental levels and trends across various regions of the country over the year to June 2011.
Government tax changes have hit landlords’ future cash flows and left investors requiring a higher yield from their properties, according to Infometrics New Zealand Housing Outlook report.
Property finder Dorien Forster has been fined $30,000 for acting without a license in a case Real Estate Agents Authority (REAA) chief Keith Manch said “sets a clear precedent on the role of property finders.”
The REINZ July 2011 regional commentaries.
There were 301 fewer property sales in July compared to June, and the national median house price fell by $15,000, according to the latest Real Estate Institute of New Zealand report.
The average weekly rent for Auckland properties in July was $417, and for the second consecutive month moved downwards, according to Barfoot & Thompson.
People seeking to rent out their property to take advantage of the Rugby World Cup have been warned they will be under scrutiny from the Inland Revenue to ensure they meet tax obligations.
Parts of Auckland have seen property values increase by 2.4% since July, while Wellington remains the only main centre to see continued declines, according to the latest QV report.
Analysis, comment and prices from QV Valuations staff across the country.
The lack of new listings on the market suggests property investors “don’t really give a damn” about the April 1 tax changes that affected investment property, according to BNZ economist Tony Alexander.
The lack of available property on the market could prompt upward price pressure, see buyers exit the market or both, according to the Realestate.co.nz July report.
Barfoot & Thompson listed just 1050 new properties in July, 8.9% lower than in June and the lowest number for a decade.
The NZPIF has had two meetings this year with senior Labour Ministers. At both these meetings we asked about Labour's housing policy and if any new taxes were being considered. We were told that a land and capital gains tax had been looked at, to pay for extra planned spending, but there were problems with both and would not be part of their policy.
The average median rent for a two-bedroom property in Devonport rose 26% in the year to June, while the same size property in Takapuna/Milford saw an 18% fall, according to the latest Crockers Auckland rental price table.
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