Latest Property Headlines

Soaring house prices have raised New Zealanders’ combined net worth to over $1.39 trillion, up 9% in a year. • Acc. to Statistics NZ, net worth has grown steadily from $1 trillion in 2007 to $1.39 trillion in 2015, & household net worth rose from $319 billion (35%) to $1,236b. • Investment in land & buildings was a main contributor […]

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House price moderation won’t be sustained. Instead, house price rises would soar even higher due to the continued imbalance between supply & demand. • The Reserve Bank has warned price increases in the NZ housing market could resume as supply shortages continue. • There may be a moderation of house price rises in the recent months due […]

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12 out of 15 regions sustained strong GDP growth in the financial year to March 2016, acc. to Statistics NZ. • Bay of Plenty tops the country’s GDP growth at 7.7%, with Auckland in 2nd place w/ 6.0% & Otago sits in 3rd w/ 4.8%. • Waikato, Wellington, Canterbury & Manawatu-Whanganui grew by more than 3%, while Taranaki, West […]

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The Auckland housing market is on the brink of losing all the capital gains it made in the last 12 months. • Prices of Auckland properties have fallen so much in the last few months that median prices are going into negative territory on an annual basis. • Acc. to REINZ, Auckland’s median price peaked at $868k in […]

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Britain’s biggest buy-to-let landlord shuns Asian, Pakistani, Indian & other coloured people from renting his properties because they smell like curry. • Fergus Wilson says he doesn’t want to get some chemicals to take the curry smell out or replace the carpet where it sticks at the end of the tenancy. • His racist remarks […]

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The Government must overhaul NZ’s urban planning framework to avoid harmful effects from spiraling house prices, infrastructure shortfalls & environmental costs. • In its final report on improving urban planning in NZ, Productivity Commission urges the Gov’t to scrap RMA & replace it w/ new legislation providing more central guidance & less restrictive rules. • The Commission […]

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Securing a first home at today’s prices is a lot harder & tougher than it looks. Nadine Chalmers-Ross shares 6 steps based on the profiles of successful property purchasers. • Step One: Have rich parents, with both deep pockets & a large house so they can assist with. • Step Two: Live rent-free or live off the Bank of […]

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Wellington Mayor calls on private landowners to develop their land on greenfield city fringe in order to accommodate 2,750 new homes & address the city’s housing issues. • Wellington Mayor Justin Lester has announced the use of Long Term Plan to develop ways to “encourage” development on 490 hectares of undeveloped land – enough for 2750 new homes – enough to meet […]

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It looks like first-time homebuyers are being increasingly kept out of the Auckland housing market since only 1 out of 5 houses were sold to them. • CoreLogic data shows Auckland investors bought 44% of all the houses sold in past 3 months, while only 19% were bought by first home buyers, down from a peak […]

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New Zealand is among the strongest housing markets in the world, confirms Global Property Guide, ranking #5 overall house prices surge. • Acc. to Global Property Guide research, New Zealand’s house price rises are accelerating again, as post-earthquake rebuilding is bolstering the housing market. • NZ’s median house prices rose by 9.47% in 2016, a sharp […]

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