Otago Property Investors Association Inc
Phone: 03 477 6220
The number of new dwellings authorised – including and excluding apartments – show “strong increases” in both July and August, according to the latest Statistics New Zealand (SNZ) figures.
The good news is landlords’ have little need to worry about new tax changes – the bad news is that for many, the impact of the last round has yet to be felt.
In the space of one month 27,000 people have downloaded Realestate.co.nz’s upgraded iPhone app which allows users to search for rental property.
A do-it-yourself attitude is the main reason landlords opt not to use a property manager, followed by concerns over expense.
Christchurch landlords’ willing to modify their tenancy expectations could seize opportunities presented by the earthquake repair work. That's the view of Department of Building and Housing service delivery deputy chief executive Maria Robertson.
Central Otago Lakes and Auckland remain the most expensive places in New Zealand to buy property, though nationwide home affordability improved slightly over the last quarter.
A Dunedin property investor is lobbying the Government to change its tax laws for earthquake strengthening to make the work depreciable.
Floating mortgage rates are unlikely to rise this year after Reserve Bank governor Alan Bollard took his cue from deteriorating sentiment about the global economy and kept interest rates on hold, as expected.
A lack of quality listings is helping push values up in Auckland, while Wellington remains in a “holding pattern” according to the QV Index for August.
Property values in parts of Auckland are above the market peak of 2007, while Wellington values languish 7.7% below.
High profile commercial property investor Sir Robert Jones has expanded his Auckland office portfolio with the purchase of a six story office and retail block in Takapuna.
Continuing turmoil in global financial markets is likely to stay Reserve Bank governor Alan Bollard's hand on Thursday but the big question is how long will it keep him on hold.
Nationwide real estate agents have reported little evidence investors are looking to buy in the current market – though investors are buying in some locations.
Residential building activity has fallen to its lowest level for 18 years, down 12% in the June quarter and 24% over the year.
Property IQ says some valuers are scaremongering in suggesting the valuation clearing house system it is trialling with ANZ Bank will lead to a lowering of standards and inferior valuations.
The housing market may be in for a strong Spring season if new listings are any guide.
ANZ Bank and PropertyIQ have been trialing a valuation clearing house system aimed at eliminating fraudulent valuations.
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