New Zealand Property Investors' Federation, (NZPIF) is the umbrella body for 20 local Property Investors' Associations throughout New Zealand.
Phone: (03) 357 9243
High-profile property developer and racehorse owner Don Ha has been bankrupted. Ha and his wife Mohini were bankrupted in the Auckland High Court yesterday after action brought by KiwiBank, supported by BNZ, Westpac, ANZ National and the Public Trust.
Construction growth is tailing off everywhere except Auckland and Canterbury, the Registered Master Builders Federation says. The latest building consent figures show an increase in activity on 2011, with 1478 house and apartment consents issued in July 2012, a 26 per cent increase on the same month a year before.
Landlords have been getting a bad rap over recent weeks, with newspaper articles outlining property investors’ seeming reluctance to take up the Warm Up NZ subsidy for retrofitting insulation.
Access to safe, decent, affordable housing is the single biggest issue facing hundreds of thousands of Aucklanders, according to a report from Salvation Army social policy analyst Alan Johnson.
Nearly a billion dollars’ worth of building consents was approved in Canterbury in the first half of 2012, quickly approaching the 1.2 billion consented over the whole of last year.
Westpac says its new service, HomeClub, is a way to add value for customers beyond traditional banking services.
Landlords must be careful if they try to recover new water costs by adding them to the rent they charge, says the Ministry of Business, Innovation and Employment.
The Economist magazine recently stated that New Zealand house prices were 66% over valued based on a comparison to New Zealand rental prices. The NZ Property Investors’ Federation believes that the magazine’s study uses the wrong figures for rental price and expected rental return. The Federation also believes that the magazine has not examined whether rental prices are in fact too low when using them to reach a conclusion on property prices.
How much would it cost to replace your investment properties if disaster struck? Consumer chief executive Sue Chetwin says that information will be vital under changes to the way home insurance policies are structured.
Applications for investment in the ASB bank national support centre building in Auckland are oversubscribed ahead of the scheduled closing date for the syndicated sale.
Awareness of the shortage of available housing in some parts of New Zealand is driving buyers into the market, says BNZ chief economist Tony Alexander. Investors are also increasingly looking to buy he says, driven by expectations of rent rises and capital gains.
New ground rent charges for leasehold buildings on Auckland’s waterfront are coming as a rude shock to many property owners, says the city’s property investors association.
The former Waitakere City was a standout for property sales in July, according to Realestate.co.nz Its latest Property Pulse factsheet for the region showed there were 329 sales for the month – just under June’s total. That was a 39% increase on July 2011.
Issues around water use and who pays for it have been clarified by the Ministry of Business, Innovation and Employment’s building and housing department – but not to the satisfaction of the New Zealand Property Investors Federation.
New Zealand may be one of the most over-valued housing markets, but that doesn’t mean prices are going to fall any time soon, says BNZ chief economist Tony Alexander.
ANZ says too much focus in the housing affordability debate is being put on a shortage of supply. It says any effort to make housing more affordability needs to look at lots of factors, including improving the income side of the equation.
Self-employed people are flocking to low-doc loans, brokers say. The loans don’t require the same amount of paperwork as a standard mortgage and are popular with those who do not yet have the financial records to declare their income.
Buyers are likely to hesitate about purchasing at partly-built Pegasus Town, near Christchurch, now that it is in receivership, despite assurances from the developer that it is business as usual, says one local real estate agent.
ANZ’s latest property report says the housing market looks likely to remain sketchy and prone to short bursts of enthusiasm followed by consolidation, as opposed to any clear trend.
New Zealanders are increasingly confident about borrowing to buy homes and businesses, according to credit bureau Veda. Almost 50% more people made mortgage inquiries this year, compared to 2011.
Porirua is a diverse and underrated location for investors and tenants alike. If variety is the spice of life, Porirua is hot. Once seen as merely a satellite city of Wellington, Porirua is now a diverse and bustling region that draws all types of people and industries.
Industrial vacancy rates in Auckland are improving, according to the latest report from commercial property services firm Darroch.
Realestate.co.nz chief executive Alistair Helm says the New Zealand property market is a long way from a boom – despite the latest REINZ figures showing a 19.9% year-on-year increase in house sales.
The acquisition of Century 21 New Zealand by its Australian counterpart’s owner and chairman is expected to lead to closer transtasman collaboration, the firm says.
Housing confidence was steady nationwide in the three months to July, but house price expectations carry on climbing, according to the latest ASB Housing Confidence Survey.
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