Real Estate

  • NZ building consents see-saw in March NZ Newswire - Fri, Apr 29, 2016 2:21 PM NZST

    After red-hot growth in February for residential building consents March recorded a fall, with Otago recording the biggest drop.

  • 'Second-chance' buyers get KiwiSaver help Newswire - Thu, Apr 28, 2016 6:51 PM NZST

    Previous homeowners who have fallen on hard times will now be able to access their KiwiSaver funds to help them get back on the property ladder.

  • Investors swamp first-home buyers: Greens Newswire - Thu, Apr 28, 2016 9:19 AM NZST

    The latest Reserve Bank data shows property investors are taking out far more mortgages than first-home buyers, the Greens say.

  • Key talks down land tax on foreigners Newswire - Wed, Apr 27, 2016 2:41 PM NZST

    Prime Minister John Key is increasingly cautious about the need for a land tax on foreigners, he says Auckland has a supply issue.

  • Firm offers way into Akld housing market NZ Newswire - Wed, Apr 27, 2016 1:55 PM NZST

    An Auckland company has a unique solution to the housing crisis - it's offering shares in a company that will then buy a house, for as little as $500.

  • Agreement opens up land for housing Newswire - Tue, Apr 26, 2016 12:52 PM NZST

    An agreement has been signed to build 400 affordable homes in Hobsonville, and the government says half of them will be sold to first home buyers.

  • Force foreigners to build homes: Labour Newswire - Tue, Apr 26, 2016 10:04 AM NZST

    Labour says forcing foreign property investors to build new homes, the way they have to in Australia, would be more effective than a land tax.

  • Augusta buying NZME House in Auckland NZ Newswire - Mon, Apr 18, 2016 9:28 AM NZST

    Property investor and fund manager Augusta Capital is paying $115.8m for NZME House in Auckland with plans to syndicate further investment.

  • Carters takes leaky suit to Supreme Court NZ Newswire - Wed, Apr 13, 2016 1:51 PM NZST

    Carter Holt Harvey is at the Supreme Court trying to throw out a claim that it is liable for the cost of fixing 890 leaky school buildings.

  • NZ house sales hit records in March NZ Newswire - Tue, Apr 12, 2016 12:42 PM NZST

    Regional markets right across the country continued to see rising real estate prices, with the median national price now just under $500,000.

  • Home ownership rates falling: Labour Newswire - Fri, Apr 8, 2016 4:30 PM NZST

    Labour is citing the latest Statistics NZ estimates which show home ownership rates have fallen from 66 per cent in 2008 to 63 per cent this year.

  • NZ Post pays $12m to amend lease Newswire - Fri, Apr 8, 2016 3:57 PM NZST

    Argosy Property will be paid $12 million from New Zealand Post after the state-owned enterprise amended the lease on it's tenancy.

  • Tenth expansion for Auckland housing zones Newswire - Thu, Apr 7, 2016 2:10 PM NZST

    Auckland's Epsom, Grey Lynn and Kinglsand are among the suburbs to home new fast-track consent homes in the latest expansion of a government plan.

  • Steel & Tube puts hold on mesh supply NZ Newswire - Thu, Apr 7, 2016 9:47 AM NZST

    Steel & Tube has become the third company to put its seismic reinforcing steel mesh supply on hold until it can guarantee it meets industry standards.

  • NZ property value growth slows in March NZ Newswire - Wed, Apr 6, 2016 12:53 PM NZST

    Despite a slowdown in the growth of property values in March, the average price Kiwi buyers were paying continued to climb in all the main centres.

  • Auckland house prices near record NZ Newswire - Tue, Apr 5, 2016 11:23 AM NZST

    The median house sale price in Auckland last month was $798,000, just $2,000 shy of the record.

  • New scheme for construction workers NZ Newswire - Mon, Apr 4, 2016 4:01 AM NZST

    The Construction Safety Council is running a scheme to accredit workers and a database is publicly available.

  • NZ building consents climb in February NZ Newswire - Wed, Mar 30, 2016 12:14 PM NZDT

    Increased building intentions in the country's largest city pushed residential building consents 11 per cent higher in February.

  • Auckland developer buys Springpark NZ Newswire - Wed, Mar 23, 2016 3:50 PM NZDT

    Auckland property developer Wilshire Group has had its offer for the failed Springpark housing development accepted for an undisclosed sum.

  • Affordable homes opened in Christchurch Newswire - Thu, Mar 17, 2016 11:53 AM NZDT

    Housing Minister Nick Smith has opened the first homes in a Christchurch development aimed at delivering affordable housing.

  • House listing prices back up: Trade Me NZ Newswire - Wed, Mar 16, 2016 9:44 AM NZDT
    House listing prices back up: Trade Me

    The asking price on the New Zealand housing market has rebounded following a summer slump, according to Trade Me.

  • House sale price, turnover rises in Feb NZ Newswire - Fri, Mar 11, 2016 1:37 PM NZDT

    The cooling Auckland property market stoked has demand in other regions, with the median sale price increasing by nearly five per cent from a year earlier.

  • The Most Expensive Cities in the World to Live The Wall Street Journal - Fri, Mar 11, 2016 4:59 AM NZDT
    The Most Expensive Cities in the World to Live

    A stronger dollar has propelled New York and Los Angeles into an annual ranking of the world’s 10 most expensive cities.

  • Steel mesh products under investigation NZ Newswire - Fri, Mar 4, 2016 11:53 AM NZDT

    The Commerce Commission is undertaking further testing on some steel mesh products amid concerns they don't meet standards.

  • Building activity at it highest since 1990 NZ Newswire - Thu, Mar 3, 2016 12:07 PM NZDT

    Builders and tradies have been going at it hammer and tongs, data just out suggests, with total building activity at its highest since records began.

  • Auckland house prices fall in February NZ Newswire - Thu, Mar 3, 2016 11:15 AM NZDT

    The median price for houses sold in Auckland fell in February compared to a month earlier but Barfoot & Thompson says autumn is looking busy.

  • NZ property value growth cools in February NZ Newswire - Wed, Mar 2, 2016 1:10 PM NZDT

    Home values in all main centres increased with the exception of Auckland, as regions within commuting distance of our largest city experienced a boom.

  • Building consents sink 8.2% in January NZ Newswire - Mon, Feb 29, 2016 12:04 PM NZDT

    A drop-off Canterbury and a lower-than-expected number in Auckland saw building consents fall in January by nearly 10 per cent.

  • Dotcom's Coatesville mansion for sale Newswire - Mon, Feb 29, 2016 9:03 AM NZDT

    The former home of embattled internet mogul Kim Dotcom is on the market for an undisclosed price.

  • Apartment security questioned Newswire - Fri, Feb 26, 2016 1:51 PM NZDT

    Police are warning apartment residents about security issues after an incident in an Auckland apartment block in the early hours of Thursday morning.

  • English confident Auckland can grow NZ Newswire - Thu, Feb 25, 2016 4:02 PM NZDT
    English confident Auckland can grow

    Finance Minister Bill English says he is confident Auckland can decide if it wants to grow "up or out" despite it backing away from an up option this week.

  • Blackstone buys NZ retirement villages NZ Newswire - Wed, Feb 17, 2016 8:56 AM NZDT

    New York-based private equity firm Blackstone has bought five retirement villages in NZ from Lendlease Group.

  • Auckland house sales fall in January NZ Newswire - Thu, Feb 11, 2016 5:34 PM NZDT

    Auckland was the only region in the country to report a fall in house sales in January, as regulatory curbs continued to dent demand.

  • More areas added to Auckland housing zones Newswire - Thu, Feb 11, 2016 10:42 AM NZDT

    Upmarket Herne Bay is among the suburbs that could see some fast-tracked homes being built under the latest expansion of Auckland's special housing areas.

  • Cooling Auckland market slowing growth NZ Newswire - Tue, Feb 9, 2016 12:56 PM NZDT

    As regulatory curbs continue to dent investor demand in Auckland, property value growth across the country slowed.

  • Auckland house sales change in January NZ Newswire - Thu, Feb 4, 2016 11:23 AM NZDT

    The pattern of housing sales in the country's biggest city changed in January, with sales reaching an eight-month high, says

  • No prosecution after island sale probe NZ Newswire - Tue, Feb 2, 2016 11:20 AM NZDT

    The Overseas Investment Office will not launch a prosecution over the sale of a Northland island in 2010.

  • Augusta buying Brisbane industrial land NZ Newswire - Tue, Feb 2, 2016 11:20 AM NZDT

    Auckland-based listed property investor Augusta Capital says it will buy an industrial property in Brisbane for $A23 million.

  • Minister and Housing NZ join legal action NZ Newswire - Mon, Feb 1, 2016 3:30 PM NZDT

    Environment Minister Nick Smith says he and Housing NZ have joined legal proceedings over appeals lodged against the redevelopment of an Auckland quarry.

  • Fletchers fine with PNG payments NZ Newswire - Mon, Feb 1, 2016 3:15 PM NZDT

    A NZ consultancy outfit has complained about getting paid by the Papua New Guinean government but building giant Fletcher Building says it has no problems.

  • Auckland housing woes can be fixed: economist NZ Newswire - Tue, Jan 26, 2016 1:35 PM NZDT
    Auckland housing woes can be fixed: economist

    Leading economist Shamubeel Equab says if Auckland wants to fix its housing malaise, the home-owning policymakers need to enable change.

  • Govt takes heat on Auckland house prices NZ Newswire - Mon, Jan 25, 2016 12:13 PM NZDT

    Auckland homes are now out of reach for many Kiwis, with the median price now nearly 10 times that of the median income, a report says.

  • Continuing growth in lifestyle market - REINZ Fuseworks - Fri, Jan 22, 2016 1:14 PM NZDT

    Data released today by the Real Estate Institute of NZ ("REINZ") shows there were 508 more lifestyle property sales (+28.7%) for the three months ended December 2015 than for the three months ended December 2014. Overall, there were 2,277 lifestyle property sales in the three months ended December 2015, compared to 2,200 lifestyle property sales for the three months ended November 2015 (+3.5%), and 1,769 lifestyle property sales for the three months ended December 2014. 8,142 lifestyle properties were sold in the year to December 2015, 26.8% more than were sold in the year to December 2014, the highest number of annual sales since December 2004.

  • Number on social housing register continues to decline - Bennett Fuseworks - Fri, Jan 22, 2016 10:06 AM NZDT

    The December 2015 Social Housing Register shows that better understanding applicant’s particular needs is housing more vulnerable people, Social Housing Minister Paula Bennett says. "The Government’s number one focus in social housing is getting those who most need our help into safe and warm homes," says Mrs Bennett. "We’re now working with people to find out what their roadblocks are to private rental or even home ownership, both at the time they apply to go on the Register and through the Tenancy Review Process." "I’m absolutely thrilled that 47 tenants have even purchased their own homes, and by working closely with them and making the option viable they are now proud homeowners, most of them for the first time" Mrs Bennett says.

  • NZ manufacturing jumps to 14-month high NZ Newswire - Thu, Jan 21, 2016 11:24 AM NZDT

    Manufacturing activity in New Zealand rose to a 14-month high in December, underpinned by the construction industry and with new orders leading the way.

  • Rents in 2015 end the year where they started Fuseworks - Thu, Jan 21, 2016 10:31 AM NZDT

    While property prices rose around the country in 2015, particularly in Auckland, rents didn’t keep pace according to Trade Me Property’s latest rental figures. Head of Trade Me Property Nigel Jeffries said that median asking rent across the country ended the year almost exactly where it began in January, at $420.

  • Opinion: Auckland market cooling, but expect a new trends Fuseworks - Wed, Jan 20, 2016 3:15 PM NZDT

    By Geoff Barnett, National Manager, Century 21 New Zealand The latest REINZ data supports Australia & New Zealand Century 21 owner and chairman Charles Tarbey’s recent observation that the property market is returning to 'true real estate’ after the last few years of strong growth and huge demand. In Auckland, in particular, we’re generally seeing new residential listings and sales volumes down, auction clearance numbers generally falling, average selling times lengthening out, and median house prices not rising as steeply.

  • Housing market strengthens in December NZ Newswire - Wed, Jan 20, 2016 12:39 PM NZDT

    There is more evidence of a slowing Auckland housing market in the latest data while other regions are showing strong growth.

  • Regional markets continue to strengthen - REINZ Fuseworks - Wed, Jan 20, 2016 11:03 AM NZDT

    Excluding Auckland, the number of sales compared to December 2014 increased by 17.5%, but fell 8.1% compared to November. The national median price was $465,000 for December, an increase of $15,000 or 3.3% on December 2014, and up 1.2% compared to November. Excluding the impact of the Auckland region, the national median price rose $28,000 to $379,000 compared to December 2014 to reach its fourth record high in a row, and rose 1.1% compared to November.

  • Auckland property prices a concern NZ Newswire - Sat, Jan 16, 2016 8:42 AM NZDT

    Celebrities are buying up property in Auckland but it's becoming unattainable for families, with apartments selling for more than $800,000.

  • New report on NZ's house prices 'highlights current crisis' Fuseworks - Fri, Jan 15, 2016 2:14 PM NZDT

    Property Council reinforces its urgent call to action on the country’s desperate housing crisis as a new report names New Zealand "as the most expensive country in the world to buy property." Ratings agency Fitch has released its Global housing and mortgage outlook 2016 which puts New Zealand as the most expensive housing market in the world on a price to income basis. Property Council chief executive Connal Townsend says the 14% year-on-year growth in 2015 is a damning indictment of the country’s housing market when compared to other countries.

  • NZ the hardest place in the world to buy a house - Greens Fuseworks - Fri, Jan 15, 2016 10:36 AM NZDT

    The National Government’s hands-off approach to the housing crisis over the past seven years has led to New Zealand becoming the most unaffordable place in the world to buy a house, the Green Party said today. A new report by global financial experts Fitch Ratings that includes house price to income ratios shows that New Zealanders aren’t earning enough relative to the sky-rocketing cost of housing, and that the construction sector isn’t building enough houses to meet demand. "This report shows New Zealanders are being priced out of the housing market, or they’re having to borrow up to their eyeballs just to buy their family a place to live," said Green Party Co-leader James Shaw.

  • Quiet end to booming property market - Trade Me Fuseworks - Thu, Jan 14, 2016 8:59 AM NZDT

    The average asking price of houses in Auckland rose only 0.2 per cent while the rest of the country reduced by 0.4 per when compared to November. Head of Trade Me Property Nigel Jeffries said 2015 was one of the most heated years on record for the Auckland property market, and the cooldown at the close of the year was "unsurprising". House prices in Auckland often posted month-on-month growth rates over the year but as the year wound down, the focus shifted to the holiday season," he said.

  • Property values rise 14 per cent in 2015 NZ Newswire - Wed, Jan 13, 2016 12:43 PM NZDT

    The average value of a New Zealand home rose to $558,146 in December from $488,674 a year earlier, according to latest figures.

  • Year-end sees Auckland housing market slow, others rise Fuseworks - Wed, Jan 13, 2016 12:00 PM NZDT

    Overall the nationwide average shows residential property values increased 14.2% or $69,472 during 2015 from $488,674 in December 2014 to $558,146 in December 2015, according to the latest statistics from Quotable Value (QV) powered by CoreLogic. Home values in the Auckland region increased 22.5% or $171,406 from $761,858 at December 2014 to $933,264 at December 2015.

  • NZ slips in eyes of Chinese investors Newswire - Tue, Jan 12, 2016 2:58 PM NZDT

    A company helping Chinese buy New Zealand properties has said the country has slipped in popularity, after measures were introduced to cool the market.

  • Improvement in NZ home affordability may not last BusinessDesk - Tue, Jan 12, 2016 12:03 PM NZDT

    The affordability of New Zealand housing improved by 5.7 percent in the final three months of last year, helped in part by stalling Auckland house prices, according to the latest Massey University Home Affordability Report. It also notes that Auckland homes remain 59 percent less affordable than housing in the rest of the country, despite a 1.4 percent improvement in affordability in the Auckland market in the last three months of 2015.

  • NZ building consents rise in November NZ Newswire - Mon, Jan 11, 2016 12:05 PM NZDT

    Our ageing population and the demand for retirement village units was behind a rise in residential building consents in November.

  • Houses for sale at 20-year low in Auckland NZ Newswire - Wed, Jan 6, 2016 10:53 AM NZDT

    The number of houses for sale in Auckland at the end of December, less than 2500, is at its lowest in 20 years, says a major real estate agency.

  • 'More realistic property market returns' in 2016 Fuseworks - Wed, Jan 6, 2016 10:43 AM NZDT

    Owner and chairman of Century 21 Australasia, Charles Tarbey, believes the Trans-Tasman property market is returning to what could be defined as 'true real estate’. The comments by the Sydney-based Australasian company owner are supported by Auckland-based Geoff Barnett, National Manager of Century 21 New Zealand. "We’re seeing auction clearance numbers generally falling, average selling times lengthening out, and median house prices not rising as steeply particularly in Auckland.

  • Drop in number of Auckland house sales in Dec Fuseworks - Wed, Jan 6, 2016 10:00 AM NZDT

    In December the sales price of Auckland housing remained stable but there was a significant fall in the number of sales compared to those in November and December 2014. "Sales data for the final month of the year is sending mixed messages as to where the market will head in 2016," said Peter Thompson. "The average sales price for December at $869,492 was down only 0.8 percent on November’s record average price while the median price rose to an all-time high of $800,000, up 0.6 percent on that for November.

  • Central Otago rivals Auckland for property NZ Newswire - Sat, Jan 2, 2016 10:26 AM NZDT

    The average asking price of a house in Central Otago has topped $800,000 for the first time and only in Auckland are homes more expensive.

  • Central Otago breaks $800,000 barrier in average asking price Fuseworks - Fri, Jan 1, 2016 8:55 AM NZDT

    Central Otago joins Auckland as one of only two regions in the country where average asking prices of homes for sale now exceed $800,000, according to data from Realestate.co.nz, New Zealand’s largest website dedicated only to property. Vanessa Taylor, Spokesperson for Realestate.co.nz, says "in Central Otago, the average asking price in December broke the $800,000 mark for the first time, setting a new record of $824,394. The previous record in Central Otago was $782,684, set in July 2014." The Waikato also experienced a new record high in average asking price in December of $414,596, up slightly on November’s high of $413,067.

  • Millbrook Resort 'hive of activity' as developments take off Fuseworks - Wed, Dec 23, 2015 12:43 PM NZDT
    Millbrook Resort 'hive of activity' as developments take off

    The ‘SOLD’ signs are up all over Queenstown’s Millbrook Resort as the multi-award-winning resort notches up nearly $170m of property sales and development in the past ten years. In total, 94 ‘home-and-land’ and ‘land-only’ properties have been sold at Millbrook since 2006, totalling $170m.

  • China cements top spot for NZ exports NZ Newswire - Wed, Dec 23, 2015 12:29 PM NZDT

    New Zealand's top export destination in November was China, with higher volumes of milk powder, butter and beef heading to Asia's biggest economy.

  • First home buyers better off in some regions, worse off in others Fuseworks - Wed, Dec 23, 2015 10:59 AM NZDT

    There was good and bad news for first home buyers in November with housing affordability worsening in some regions and improving in others, according to Interest.co.nz's Home Loan Affordability Report. Of the 12 regions monitored by the report, affordability for first home buyers improved in six regions and worsened in the other six. The report tracks how much of their weekly after-tax pay a typical working couple aged 24-29 would have to set aside to meet the mortgage payments on homes purchased at the REINZ's lower quartile selling price in each region.

  • Commercial property owners join leaky suit NZ Newswire - Tue, Dec 22, 2015 5:57 PM NZDT

    Owners of 22 business units are joining a leaky homes lawsuit against James Hardie for negligence and breach of the Fair Trading Act.

  • Super Fund, Ngai Tahu invest in housing NZ Newswire - Fri, Dec 18, 2015 7:30 AM NZDT

    Ngai Tahu and the NZ Super Fund are teaming up to bould 200 new homes at the Hobsonville Point development in Auckland.

  • Oyster offer snapped up by investors Fuseworks - Thu, Dec 17, 2015 7:51 AM NZDT

    Oyster Group’s latest proportionate ownership opportunity of the Home Straight Business Park at 19 Te Rapa Road in Hamilton has closed early, over-subscribed, within a week of its release to the public. The $23 million commercial property offering drew substantial interest from new investors in particular and achieved the quickest public equity raise for Oyster in many years, according to chief executive officer, Mark Schiele. "40% of the total number of investors who participated in the offer, were new to Oyster.

  • New affordable homes for Christchurch Fuseworks - Mon, Dec 14, 2015 12:43 PM NZDT

    Building and Housing Minister Dr Nick Smith today welcomed the opening of the Hornby Project complex, an initiative being delivered by a consortium of community housing providers to provide a range of affordable housing solutions for low income Christchurch families. "The $12 million Hornby Project is a collaborative partnership between the Government, the Christchurch City Council, the New Zealand Housing Foundation, Abbeyfield, Housing Plus Charitable Trust, the Salvation Army and the Christchurch Methodist Mission.

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