New Zealand Property Investors' Federation

The NZPIF is the umbrella body for 20 local Property Investors' Associations throughout New Zealand.

(027) 357 9243

www@nzpif.org.nz

News & Updates

Recent updates

18-11-2015

Political Update for November 2015

Parliament will sit for a further 9 days before breaking for the year on December 11.

Regulation now in affect

  • Auckland residential property investors must have a deposit of at least 30%.

  • High LVR borrowing outside Auckland increased from 10% to 15% of all loans

  • Taxation (Bright-line Test for Residential Land) Bill.

  • Overseas buyers must have a NZ bank account and IRD number

Auckland Council to reduce iwi approval requirements

Auckland Council looks set to reduce the number of sites requiring owners to seek iwi approval for work on their land. The requirement to obtain a "cultural impact assessment" has been controversial, with an organisation, Democracy Action, formed last year to oppose the new rule.

Property magnate Sir Bob Jones slammed the rule after his company had to contact 13 iwi before it could remove an 11m concrete block wall and a window and replace it with a glass frontage for a ground-floor restaurant.

Democracy Action spokesman Lee Short said the 3600 sites of value had not gone through a rigid process, nor did they have the support of the Archaeological Association.

He welcomed the recommendation by officers to remove 1373 sites, but said more work was needed to assess the remaining 2227 sites.

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11542422.

 

Completion of 100th house at first SHA celebrated

Nick Smith, 14 NOVEMBER, 2015

“The next major step will be the planned second phase of reforms to the Resource Management Act, which will address the long-term issues affecting housing supply and affordability. 

“It is the combined effect of these measures that will make a lasting difference to affordability and see more New Zealanders realise the dream of owning their own home.”

The completion of the 100th house at the Waimahia Inlet housing development in Auckland was welcomed this afternoon by Building and Housing Minister Dr Nick Smith.

The $120 million development is comprised of 295 homes in total – 59 social and community rental, 60 affordable community rental and rent-to-buy, 71 affordable assisted ownership, and 105 private ownership including first home buyers. The houses are a mix of two- to five-bedroom dwellings, priced from $350,000. The entire development is expected to be completed by 2017.

HTTP://WWW.BEEHIVE.GOVT.NZ/RELEASE/COMPLETION-100TH-HOUSE-FIRST-SHA-CELEBRATED

 

Bright-line Bill passes third reading

Todd McClay, 12 NOVEMBER, 2015

Revenue Minister Todd McClay says the passing of the bright-line legislation in Parliament today is an important tool to ensure property speculators pay their fair share of tax.

http://www.beehive.govt.nz/release/bright-line-bill-passes-third-reading

 

Auckland home construction at 10-year high

Nick Smith, 6 NOVEMBER, 2015

Building and Housing Minister Dr Nick Smith has rejected data used in a media report published today on the number of homes completed in Auckland under the Housing Accord with Auckland Council, saying the pace of residential construction in Auckland is at a 10-year high and is continuing to grow. http://www.beehive.govt.nz/release/auckland-home-construction-10-year-high

 

Social housing changes to house people sooner

Paula Bennett, 5 NOVEMBER, 2015

Changes to discourage people from refusing reasonable social housing offers will help house vulnerable New Zealanders sooner, Social Housing Minister Paula Bennett says.\

The Government wants to be working with organisations that are sustainable in the long term. 

One-off capital grants up front aren’t the way to achieve that. Instead, you are going to need to be commercial to be sustainable. 

That will mean looking at ways to build your balance sheet and your financial capability – or forming a consortium to get it.

http://www.beehive.govt.nz/release/social-housing-changes-house-people-sooner

 

Tenancy bond system moves online

Nick Smith, 1 NOVEMBER, 2015

A new tenancy bond service goes online today as part of the Government’s programme of making public services more convenient and easier, Building and Housing Minister Dr Nick Smith has announced.

http://www.beehive.govt.nz/release/tenancy-bond-system-moves-online

 

Building consents top 26,000

Nick Smith, 30 OCTOBER, 2015

The latest figures released today by Statistics New Zealand showing the number of building consents across the country reaching at an eight-year high have been welcomed by Building and Housing Minister Dr Nick Smith, who says the data confirms that good progress being made in increasing housing supply.

http://www.beehive.govt.nz/release/building-consents-top-26000

 

Govt welcomes latest Productivity Commission report

Nick Smith, 21 OCTOBER, 2015

The Government welcomes the Productivity Commission’s Using Land for Housing report which sets out a number of recommendations for improving planning and development systems. “The key message from today’s report is that land supply is the critical issue undermining housing affordability. The steep increase in section prices over the past two decades – as much as fivefold in Auckland – is the core issue we must resolve if we are to give young New Zealanders a fair chance at home ownership,” says Dr Smith. 

http://www.beehive.govt.nz/release/govt-welcomes-latest-productivity-commission-report

 

Next step for Auckland housing programme

Nick Smith, 1 OCTOBER, 2015

The Government is inviting suitably qualified developers to register their interest in the development of housing on Crown-owned land in Auckland, Building and Housing Minister Dr Nick Smith announced today.

http://www.beehive.govt.nz/release/next-step-auckland-housing-programme

 

Speech on Housing Affordability

Bill English, 29 SEPTEMBER, 2015

I want to talk about the way that we approach economic policy in one area in particular – the housing market.

http://www.beehive.govt.nz/speech/speech-housing-affordability>>

 

Parapets and facades prioritised in revised earthquake building law

Nick Smith, 2 SEPTEMBER, 2015

A new category of priority buildings, covering parts of unreinforced masonry like parapets and facades, is to be included in the Building Act requirements for upgrading earthquake-prone buildings following strong submissions to select committee including from Canterbury earthquake survivor and Lincoln University lecturer Ann Brower, Building and Housing Minister Dr Nick Smith announced today.

http://www.beehive.govt.nz/release/parapets-and-facades-prioritised-revised-earthquake-building-law

 

Members’ bills

Members’ bills are bills introduced by Members who are not Ministers. There are currently 78 Bills in the ballot. Every second Wednesday the House gives precedence to Local, Private, and Members’ bills. On these days Members’ bills are debated.

A minimum of eight Members’ bills awaiting first reading should be on the Order Paper on each Members’ day. When a space on the Order Paper becomes available, a ballot is held to decide which Member's bill will be introduced. Members enter bills in the ballot by lodging notices of proposal for their bills.

On Thursday, 12 November 2015 four places were available on the Order Paper for the first reading of a Member’s bill.

The ballot was held, and resulted in the Overseas Investment (Protection of New Zealand Homebuyers) Amendment Bill by Labours Phil Twyford being selected.

 

Issues under watch

What

(sponsoring MP)

Brief description

Status

Building (Earthquake-prone buildings) Amendment Bill

(Nat: Nick Smith)

Sets a requirement for buildings to be earthquake strengthened – also applies to multi-storey or multi-unit residential buildings

Bill referred to the Local Government and Environment Select Committee. Submissions closed: 17 Apr 2014. Committee report due: 30 July 2015

Healthy Homes Guarantee Bill (Lab: Phil Twyford)

That every rental home in NZ meets minimum standards of heating and insulation

Bill did not pass its first reading

Healthy Homes Guarantee Bill (No 2)
(Lab: Andrew Little)

That every rental home in New Zealand meets minimum standards of heating and insulation

Introduced 15 Oct 2015. Awaiting first reading, but Speaker of the House has ruled that it is too similar to Phil Twyford's Bill which was defeated in the same year.

Residential Tenancies (Warm, Safe, and Secure Rentals) Amendment Bill

 (Greens: Metiria Turei)

Through the introduction of a “WoF” regime require minimum energy performance standards for all residential rental accommodation

Bill awaiting first reading

Taxation (Bright-line Test for Residential Land) Bill

 

 improve compliance with the current land sale rules in the Income Tax Act 2007.

PASSED 3RD READING ON 12 Nov 2015.

Identify housing and property rules which are frustrating

(Department of Internal Affairs)

The Rules Reduction Taskforce is looking at updating housing and property rules in New Zealand. They are looking for rules or issues that people find frustrating.

Submissions close 1 June.  Online submissions at https://www.govt.nz/browse/housing-and-property/rules-reduction-submissions/

Tags: political report

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