Otago Property Investors Association Inc
Phone: 03 477 6220
Updates on Housing, Capital Gains Tax, the Super Ministry and the Welfare Bill.
Housing consents fell 6.7% in February after an 8.1% rise the month before, but Statistics New Zealand said the overall consents trend remains upward.
House prices will rise 5% this year before higher interest rates put the brakes on, and the rapid price rises in Auckland and Christchurch will not be repeated elsewhere.
Auckland has retained its position as the least affordable location to buy a house in New Zealand, according to the latest Massey University Home Affordability Report.
Difficulties securing finance, council red tape and the imminent depreciation changes are acting as disincentives to rental property development at the same time as shortages are driving up rents.
The latest Crockers Auckland sales price table revealed that despite the large year-on-year increase in both nationwide and Auckland sales, prices are up just 1%.
The Christchurch rebuild is being hampered by a severe lack of rental accommodation, according to a Real Estate Institute (REINZ) survey.
Property Investors have questioned why the Department of Building and Housing (DBH) will be merged with the ministries of Economic Development, Labour and Science and Innovation.
Plans to merge the Department of Building and Housing (DBH) into a ‘Super Ministry' have been branded as ideologically driven and dangerous for the county's building, housing and construction sectors.
Plans to fold the Department of Building and Housing (DBH) into a new Super Ministry "may disadvantage everyone in the rental industry," claim the Property Investors Federation (NZPIF).
UPDATE: New Zealand Property Investors Federation (NZPIF) president Andrew King plans urgent talks with Government Ministers to get answers about the proposed merger of the Department of Building and Housing (DBH).
Property investors are surprised and concerned about the implications of the Department of Building and Housing being merged with the ministries of Labour, Economic Development and Science and Innovation.
Auckland's rental crisis has intensified - average weekly rent for a three-bedroom house has jumped $55 in a month and rents in popular suburbs have risen 25 per cent in the last year.
The REINZ Regional Report reveals just two regions failed to record double-digit sales growth on last year.
Ombudsman Deborah Battell says New Zealanders need to be aware of what might happen if they can't service their mortgage payments and how they can help themselves.
Figures from the Real Estate Institute of New Zealand (REINZ) revealed there were 6,168 unconditional sales in February 2012, up 37% or 1,666 sales compared to the same month last year.
Nationwide values are up 1.1% over the past three months, 2.9% up over the past year and are now 2.9% below the previous market peak of late 2007.
Another company owned by Don Ha has been placed into liquidation, the latest in a string of company collapses for the self-styled property king.
State houses are costing about $3000 a year each to repair and maintain.
Auckland saw the largest number of house sales in the February month for five years but listings remain low and price rises modest, according to Barfoot & Thompson.
Home ownership has long been the New Zealand dream, and many of us are turning that fantasy into reality.
Residential building work and the Canterbury reconstruction helped building activity increase 2.9% in the December quarter from the previous quarter's decade-low.
New property listings in February were up 58% from January and the national average asking price hit $426,575 - a 3% rise on the same time last year, according to Realestate.co.nz.
There has been quite a bit of media attention on increasing rental prices recently. This is a common occurrence at this time of the year, as many people are change their circumstances in the new year and University Students are coming back at the start of the new academic year. But does that mean we can all put our prices up?
In a special bumper 100th edition of the Property Investor magazine we look back over the past decade to find 50 golden rules all smart investors should be following and catch up with some faces from the past to see how the intervening years have treated them.
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