Twenty-two new rental properties were opened in Mangere today, as part of the Government’s programme of expanding the community housing sector. It follows legislation passed last year that allowed the Government to partner with community housing providers to extend the variety of social housing.
NewsThursday, Feb 13, 2014
First-home buyers may be edging back into the market but are still bearing the brunt of the Reserve Bank’s loan-to-value restrictions, a new survey shows. BNZ chief economist Tony Alexander said the results of the first BNZ/REINZ survey of real estate agents for the year would be released next week.
Martin Dunn says he has been advised that returns from the sale of houses bought by his new investment company will not be taxable. That's despite the fact that the houses have been bought with the expressed intention of eventual sale.
It's certainly a sign of the times when something called the Dunn Housing Fund is being flogged to the public to "invest" in Auckland houses, he says.
Harcourts agents have noticed increased interest in the market from property investors, the company’s latest MarketWatch report says. The real estate agency reported an average sale price of $665,726 for residential property in the Auckland and Northland region in January.
New Zealand's housing market has definitely passed its peak, Westpac's economists say. The bank has issued its latest Quarterly Economic Overview. In it, it says there is no doubt that the market has started to slow.
Growth in property values slowed considerably in January, QV says, pointing the finger and loan-to-value restrictions and rising interest rates. It has released its latest statistics, which show nationwide values have increased 9.6% over the past year and 2.2% over the past three months.
Auckland’s mayor claims the city is entering a growth phase for home building. He was speaking at an event to mark the start of construction of Brickworks, the city’s latest apartment development, at Hobsonville Point.
Vendors are losing out as agents battle Trade Me over fees, one commentator says. Groups of agents in some parts of the country have boycotted Trade Me after the company announced price rises. It has stopped charging a fixed fee to list all their properties to a fee of $159, plus GST, per listing.
Jackie Thomas-Teague President of the Wellington Property Investors' Association is interviewed regarding an assessment of one of her rental properties.
Barfoot and Thompson has reported renewed interest in the cheaper end of the market. The Auckland real estate agency has released its statistics for January. During the month, 334 homes were sold for less than $500,000 or 39.1% of all the homes sold.
Property owners expect interest rates to rise by at least 1% by the end of this year but most are not expecting that to have any effect on their property portfolios.
Realestate.co.nz reported a lift in new listings last month, helping inventory levels to recover to a level not seen since April. It followed December’s seven-year low of just 8010 new properties on the site. Thirteen of the 19 regions reported a year-on-year increase in listings.
Record traffic numbers to Realestate.co.nz’s various sites indicate a current increase in buyer interest and demand for homes. Over 1.65 million visitors browsed for property in January on their sites
Make sure you don’t end up having a horse showering in your rental.
Reserve Bank Governor Graeme Wheeler has confirmed he expects to raise the benchmark interest rate to about 4.5 percent in the next two years to curb inflation.
There’s a mixed outlook for the property market, if ANZ’s latest Property Focus is anything to go by. The bank’s economists have issued their monthly Property Focus, reporting pressure from both directions on house prices.
A new system designed to cut the time it takes to resolve tenancy disputes will only be available to big property management firms and Housing New Zealand at first. Housing Minister Nick Smith has revealed details of the new “Fasttrack” process for the Tenancy Tribunal.
Statement issued by Reserve Bank Governor Graeme Wheeler
New Zealand landlords are becoming more likely to leave their property management in the hands of the professionals, one industry participant says. David Faulkner, of Property Brokers, said a comparison of listing websites TradeMe and Realestate.co.nz showed that up to half of all rental properties were now being looked after by a manager, rather than a DIY owner.
Economists aren’t expecting an increase in the official cash rate this week but it’s not can impossibility, a new survey has shown. The latest CPI data, which showed much stronger inflation than expected, had prompted some to question whether the Reserve Bank might move sooner rather than later on the rate.
Many landlords are choosing to sell their properties because of bad experiences with tenants, says the president of the New Zealand Property Investors Federation.
Loan-to-value restrictions have the potential to affect the lifestyle property market but there is no sign of them doing so yet, the Real Estate Institute’s rural spokesman says.
There is no way of knowing how long loan-to-value restrictions might affect the housing market throughout this year, BNZ chief economist Tony Alexander says. He said house prices would continue to rise as the imbalance between demand and supply at current prices showed no sign of letting up.
There has been a clear move towards owner-occupied apartments in Auckland, says Martin Dunn, of City Sales. The apartment-specialist real estate agency has been operating for 16 years. Dunn said its apartment sales had traditionally been split at 30% to owner-occupiers and 70% to investors. But in October, November, December, that had changed to 37%, 48% and 44% owner-occupiers, respectively.
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