On paper it sounds like a great idea. A checklist for rental properties which, if mandatory, would ensure that the 31 per cent of the population who rent are in liveable homes. Increasingly, though, there are murmurs from landlords and real estate agents about whether the rental "warrant of fitness" idea being proposed at council level will improve the tenant's lot. 23-02-2014 more >>
The Wellington City Council recently released a media statement confirming that a trial Rental Property Warrant of Fitness was going to be undertaken during February. Local Authorities in Auckland, Tauranga, Christchurch and Dunedin are also taking part in the trial. 22-02-2014 more >>
Almost all areas of Auckland and sizes of properties reported rent increases in January, according to Crockers’ latest report. The biggest rental increase for three-bedroom properties was seen in the Birkenhead/Northcote Point area. Their average weekly rent increased 11% compared to the year before. 21-02-2014 more >>
New Zealand’s housing market is firmly in slowdown mode, Westpac’s chief economist says. Dominick Stephens said data from QV and REINZ confirmed the beginning of a trend. He said the fall in sales was most noticeable in the cheaper end of the market and had hit all regions except Queenstown.
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Rising housing construction costs will underpin the prices of existing homes, BNZ’s chief economist says. Average residential construction costs rose 1.1% in the December quarter to sit 4.5% higher than a year earlier. 20-02-2014 more >>
The census document NZ in Profile 2014 and the findings of the BNZ/REINZ Residential Market Survey hint at a disturbing trend regarding home ownership in this country. Overall the residential market is improving compared with the findings of the previous BNZ/REINZ survey. 19-02-2014 more >>
Housing New Zealand properties are paid for by taxpayers and it is these taxpayers who will end up paying for any cost increases in providing HNZ tenants with accommodation.
19-02-2014 more >>
A Warrant of Fitness scheme for Housing New Zealand homes will target 500 houses between now and July, Housing Minister Nick Smith announced today. He said the system needed to be practical so it could be applied to thousands of houses across New Zealand. “We need to be cautious of removing houses from the rental market when there is a shortage. We also need to ensure that the benefits of the Warrant of Fitness standard exceed the costs, because housing affordability is a significant issue.†19-02-2014 more >>
A property developer was today sentenced to six years in prison for a $47 million mortgage fraud. Malcolm Duncan Mayer was found guilty in December of 16 charges of dishonestly using a document and 10 charges of using forged documents. 18-02-2014 more >>
Reserve Bank loan-to-value (LVR) rules have had a big impact on first-home buyers, but not made much difference to investors, the latest BNZ/REINZ survey of real-estate agents shows. 17-02-2014 more >>
According to the report by Sapere Research Group released on Monday, the NZ Power proposal of the Labour and Green Parties does little to address the issue of fuel poverty. 14-02-2014 more >>
New Zealand property sales fell 4.3 percent in January from a year earlier while the median price slipped from the record high set in December, which may reflect high loan-to-value lending restrictions and seasonal factors, the Real Estate Institute says,.
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More first-home buyers are turning up to open homes with a representative of “the bank of mum and dadâ€, says Real Estate Institute chief executive Helen O’Sullivan. 14-02-2014 more >>
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. 13-02-2014 more >>
New legislation may make criminals more likely to launder money through property transactions, real estate agents have been warned. In its latest newsletter, the Real Estate Agents Authority said that property had previously been considered a complicated way to launder money. 13-02-2014 more >>
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. 13-02-2014 more >>
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. 12-02-2014 more >>
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.
11-02-2014 more >>
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. 11-02-2014 more >>
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. 11-02-2014 more >>
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. 10-02-2014 more >>
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. 07-02-2014 more >>
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. 07-02-2014 more >>
Jackie Thomas-Teague President of the Wellington Property Investors' Association is interviewed regarding an assessment of one of her rental properties. 06-02-2014 more >>
