Latest Property Headlines

Christchurch residents will be asked whether they support a scheme to postpone rates for asset rich, cash poor superannuitants. On Thursday the Christchurch City Council voted to consult the public before making a final decision on a scheme allowing all ratepayers aged 65 and over and living in their own home, to postpone paying all their rates bill indefinitely, […]

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The Homestar standard has gone through its largest change since it started in 2010. The New Zealand Green Building Council’s update to Homestar V4 will make it easier for home builders to lift and verify the performance of new homes, following a consultation with the industry. NZGBC Chief Executive Andrew Eagles says the 6 months […]

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Prime Minister Bill English says the government is looking for answers on targeted rates in Auckland. Lower land prices up front, but higher ongoing rates payments for essential infrastructure reduce the overall price of housing? The government and investors will earn a return from residents paying “targeted rates” on that infrastructure – essentially a user-pays way of funding roads […]

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The Government’s announcement of a Crown company to invest in housing infrastructure has been received well from the Property Council New Zealand. “The Property Council has long called for adequate funding tools, and at last the Crown gives us a useful solution to address New Zealand’s housing crisis,”  the chief executive of Property Council New […]

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Labour has proposed to build 1000 affordable houses in Queenstown over the next decade as part of its KiwiBuild policy to build and on-sell 100,000 homes over the next 10 years. “These will be good, modern starter homes, sold at cost to first home buyers. Three-bedroom homes in terraced housing will cost $500,000 with smaller houses […]

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Wellington ratepayers look set to fork out millions to help cover the $20 million cost of improving the tired infrastructure at Shelly Bay. Recently-released documents show it will cost $13m to provide all the infrastructure needed for the area – including roads, seawalls, water, sewerage and wastewater – with an extra $7m needed for upgrading public spaces, including three […]

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The slowdown in the housing market has important implications for the New Zealand economy, according to Westpac economists. In their Weekly Commentary, the economists say that “seeing increasing signs of softness coming through in the housing market”. • The past year had seen house price inflation slow considerably, coupled with a large decline in house sales. […]

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New Zealand’s median house price rose an annual 5.8% in June, with strong growth outside of Auckland, according to the Real Estate Institute. The national median house price increased to $529,000 in June from $500,000 the same month a year earlier, REINZ said in a statement. Auckland house prices lifted 2.5 percent on the year […]

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A dip in banking profits is being put down to increased competition and geopolitical uncertainty. The latest Financial Institutions Performance Survey from KPMG shows combined profits in the banking sector dropped 2.85 percent over the first quarter to $1.2 billion. John Kensington head of banking and finance, told Andrew Dickens the cooling housing market has […]

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The Government’s announced how it will divide up its $1 billion Housing Infrastructure Fund. It’s named five councils – majority will go to the North Island, with the lion’s share of the money going to Auckland, Waikato and Tauranga. The Labour Party says the Government’s just trying to “pull a fast one” and has accused […]

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