News

Thursday, Jun 06, 2013

Rebalancing period over: Barfoot

Auckland house prices were steady through May, Barfoot and Thompson says. The city’s biggest real estate agency reported that the average sales price in the month was $644,737, an increase of less than $2000 on the April price and $1500 below March’s record. The median sales price was $570,000, $4000 up on April and $10,000 down on March.

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Wednesday, Jun 05, 2013

Rate of construction leaps

Building work increased by its biggest margin in 10 years in the March quarter, data from Statistics NZ shows. Residential construction activity increased 12% in the quarter.

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Tuesday, Jun 04, 2013

LVR restrictions 'days away'

Reserve Bank governor Graeme Wheeler is so worried about what a house price correction could do to the stability of the banking system that loan-to-value restrictions may be only days away, BNZ says.

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Monday, Jun 03, 2013

Supply and demand gap widens

Buyers are as keen as ever to purchase properties, the latest Realestate.co.nz report says, but there still aren’t enough listings available to satisfy demand. And that is pushing asking prices to record highs.

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KiwiSaver boosting property prices

Government funds may be fuelling the increase in house prices, via the country’s KiwiSaver accounts. BNZ’s head of research said New Zealanders using their KiwiSaver accounts to purchase a first home were a concern.

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Friday, May 31, 2013

Bottom of interest cycle reached: ANZ

New Zealand’s property market gained further momentum last month on the bank of low interest rates, ANZ says. Its latest Property Focus report shows increasing numbers of factors pushing prices up, including migration and the availability of mortgage funding.

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Thursday, May 30, 2013

Building consent numbers hit five-year high

The number of building consents issued in April rose across most parts of the country last month, compared to the year before, Statistics New Zealand said.

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Wednesday, May 29, 2013

House prices worry NZIER

New Zealand's economy is likely to grow by 2.5% over the next few years but high house prices are a risk, the New Zealand Institute of Economic Research says.

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Tuesday, May 28, 2013

REINZ rejects call to eliminate CVs

Property commentator Alistair Helm has called for an end to CVs on residential property.

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Monday, May 27, 2013

Leverage, not tax, advantage: APIA

It is banks’ perceptions of the stability of the New Zealand housing market that advantages residential property investors, not any preferential tax treatment, the Auckland Property Investors Association says.

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Wednesday, May 22, 2013

Auckland lacking homeowners: Survey

Auckland has the lowest rate of outright home ownership in the country, Roy Morgan statistics reveal.

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Tuesday, May 21, 2013

Get systems right, property investors reminded

Property investors are in the Inland Revenue Department’s sights – it has been given an extra $6.65 million to make sure they are paying their bills.

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Monday, May 20, 2013

Kiwis backing rental property

Rental property is still New Zealanders’ top pick for investment returns, the latest ASB survey of investor confidence shows.

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Thursday, May 16, 2013

Budget eyes property market

Warrants of fitness for rental properties will be trialled in New Zealand homes, the Government has announced.

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Wednesday, May 15, 2013

Kiwi houses too expensive: IMF

New Zealand houses are overvalued by as much as 25%, the International Monetary Fund has said in its annual economic assessment of the country.

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Monday, May 13, 2013

Sales numbers up but prices ease: REINZ

More houses were sold last month than in any April for six years, the Real Estate Institute says.

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Buyers giving up: Survey

Buyers are despairing of ever being able to find a property, according to the latest BNZ/REINZ survey of real estate agents.

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Friday, May 10, 2013

Accord fast-tracks developments

Developers will be able to push through subdivisions in less than a quarter of the time under a housing accord signed between the Housing Minister and Auckland’s mayor.

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Thursday, May 09, 2013

QV reports price momentum spreading

New Zealand’s house price increases are now being driven by all the main centres, not just Auckland and Canterbury, QV says.

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Stats hide large variations: QV

QV’s latest data reveals some of the huge disparity in the property market in New Zealand at the moment.

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Wednesday, May 08, 2013

Kiwis expect prices to carry on rising: ASB

Almost two-thirds of people expect house prices to continue to rise over the next year, according to the latest ASB Housing Confidence Survey.

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Tuesday, May 07, 2013

Reserve Bank policies get blame for lagging rents

Reserve Bank policies may have increased the gap between average rents and average house prices over recent years, an analyst says.

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Monday, May 06, 2013

Insurance changes: Don't guesstimate

Property investors will soon have to put a dollar value on the cost of replacing their entire portfolios.

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Council eyes Plan profits

Auckland Council wants to be able to take a slice of any increase in value of properties that have their zoning changing from low density to high density housing, or rural properties that are rezoned urban.

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Friday, May 03, 2013

Upward price momentum stalls: Barfoot and Thompson

Auckland’s average house price dipped slightly in April, Barfoot and Thompson reports.

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Wednesday, May 01, 2013

ANZ: Is market sustainable?

Momentum in the housing market may not be sustainable, ANZ says in its latest Property Focus report.

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Asking prices climb

Sellers’ house price expectations have shown no sign of slowing in the latest report from Realestate.co.nz

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Tuesday, Apr 30, 2013

Consent drop may be a blip

Building consent figures dropped last month – but one economist says that shouldn’t be seen as a sign of residential construction slowing.

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Monday, Apr 29, 2013

HNZ targets investors

Housing New Zealand should stump up with more rent if it wants to win over landlords. That’s the message from Auckland Property Investors Association president David Whitburn after the department launched a campaign to turn around negative perceptions of HNZ leases.

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Friday, Apr 26, 2013

Clean, green image will attract buyers: Alexander

BNZ chief economist Tony Alexander has renewed his calls for New Zealand to implement a policy regarding foreign purchasers buying Kiwi properties.

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Investors over-represented in mortgagee sales

More than 650 small-scale property investors were forced to sell properties last year, new data reveals.

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Wednesday, Apr 24, 2013

Fine balance for Wheeler

Reserve Bank Governor Graeme Wheeler is in a tough position trying to tackle the strength of the Auckland housing market, one economist says.

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Sunday, Apr 21, 2013

Eco proposal criticised

A proposal to require new commercial buildings to be constructed to Five Green Star environmental standards has been slammed by the Property Council.

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Thursday, Apr 18, 2013

No protection available for tenants: Greens

The Green Party has pointed to a report on perceptions of housing quality, released by Statistics New Zealand today, as proof that more should be done to improve the quality of the country’s rental stock.

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No bubble to worry about: Alexander

BNZ’s chief economist has rejected suggestions from the Finance Minister that the country’s house price inflation has become a bubble.

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Wednesday, Apr 17, 2013

No stick needed for property investors: Whitburn

Those worried about New Zealanders’ preference for property investment need to change their approach to the problem, says Auckland Property Investors Association president David Whitburn.

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Don't pay too much: Newland

Buying property is not a sure bet and would-be landlords should exercise caution, one property commentator says.

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Tuesday, Apr 16, 2013

Auckland house prices concern Govt: Key

Prime Minister John Key has rejected suggestions that a delay in approving Auckland’s unitary plan is driving up house prices.

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Monday, Apr 15, 2013

Property firms' merger terms agreed

Property for Industry and Direct Property Fund’s boards have agreed on terms to proceed with a merger.

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Saturday, Apr 13, 2013

Sellers' market spreading: Survey

Property availability is worsening, putting pressure on rising house prices, the latest BNZ/REINZ survey of real estate agents shows.

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Friday, Apr 12, 2013

Rental demand down and supply up: Trade Me

There were more rental properties available in the first quarter of this year, and fewer tenants looking for them, according to Trade Me. But the problem seems to be confined to Auckland.

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Thursday, Apr 11, 2013

Auckland prices driving national increases: REINZ

March recorded the highest number of sales in a single month since May 2007, the Real Estate Institute says.

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Tackle foreign buyers now: Alexander

Concern about foreign buyers snapping up properties is purely an Auckland issue, says BNZ chief economist Tony Alexander, but it needs to be acted on now.

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Wednesday, Apr 10, 2013

Investors offered property shares

Limited information is available about a fund that will allow investors to purchase a slice of an Auckland residential property portfolio. It is understood investors will be required to hold their shares for a minimum of 11 years.

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Tuesday, Apr 09, 2013

Price growth slowing but no let-up in sight for first-home buyers: QV

Things won’t get any easier for first-home buyers in Auckland for a while yet, according to Quotable Value’s local expert, Kerry Stewart.

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Auckland businesses should look to the regions: Chamber

A solution to Auckland’s housing affordability crisis could lie just outside the city’s boundaries, a business lobby group says.

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Monday, Apr 08, 2013

Auckland plan offered DIY-style

If you don’t like the sound of what’s contained in the draft Auckland plan, the council wants you to have a go at doing better.

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House prices a concern: Reserve Bank

New Zealand’s rising house prices are a risk to the economy, the Reserve Bank’s deputy governor says.

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Friday, Apr 05, 2013

Newland picks Pokeno for investors

Property investment guru Olly Newland has pointed to Pokeno as a possible boom area.

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Thursday, Apr 04, 2013

Million-dollar sales pick up

Houses selling for more than $1 million have pushed Auckland’s average sales price to a record $645,928 for March, Barfoot and Thompson reports.

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