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Sudima Hotels has opened a new $40 million luxury boutique hotel in Christchurch, the first new-build hotel in Christchurch since the earthquakes. Sudima Chrischurch City is a five-star luxury hotel with 86 rooms that comprises of 45 king rooms, 33 twin rooms, six apartments and two executive apartments on the top floor. Located on the corner of Victoria and Salisbury […]

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House prices are being picked to surge next year, underpinned by low mortgage interest rates and recent cancellation of capital gains tax plans. Westpac chief economist Dominick Stephens said he expected nationwide house price inflation to lift from the present 2% to 7% in 2020. While he expected “moderate” price growth in Auckland, there would […]

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More than 14,000 New Zealand homes were flipped within six months of purchase during the last property market boom. That represented less than 3% of total sales, new research by OneRoof shows. National and Labour politicians blamed “flippers” for pushing up house prices, and introduced legislation to crush property speculation. But data published in OneRoof […]

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Economists expect a low official cash rate to give the economy a boost over the coming year. NZIER has released its latest quarterly predictions, in which economists said they expected another cash rate cut in September. The official cash rate (OCR) is currently at 1.5% – a historic low. Principal economist Christina Leung expected the next […]

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House prices may get a shot in the arm from current low interest rates and the government’s decision to scrap any chance of a capital gains tax. Westpac’s chief economist Dominick Stephens says house price inflation could reach 7% over the coming year from 1.3%. Stephens said the dramatic decline in interest rates would be […]

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REINZ welcomes Privacy Commission’s guidelines but warns they may cause confusion When news of the ‘KFC test’ broke last year, the Real Estate Institute of New Zealand (REINZ) immediately called for some consistent standards to be put in place, therefore, broadly speaking, the Institute welcome the announcement from the Office of the Privacy Commissioner (OPC) […]

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Two Christchurch schools have new principals, both starting their roles in July. Christine O’Neill has been named head of Christchurch Girls’ High School, while Joe Eccleton will take the helm at Cashmere High School. O’Neill spent 10 years as head of St Thomas of Canterbury College before becoming an independent consultant for the Ministry of Education […]

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Westpac’s economists have reconfirmed their forecast there will be no more Official Cash Rate (OCR) cuts by the Reserve Bank for the remainder of the year, but expect house price inflation to hit 7% next year. An update by Westpac’s chief economist Dominick Stephens said they believed the Reserve Bank would keep the OCR at […]

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Christchurch bucks national trend with a fall in rents

The Government’s Healthy Homes standards have officially been signed off and will become law on July 1. The standards have now been drafted into regulations and approved by Cabinet. Private landlords have just over two years to ensure rental properties meet the standards, which some say could mean tenants will wind up paying more rent. On Monday, […]

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Interest rate cuts have left borrowers “sitting pretty” and that is likely to mean a boost for the housing market, economists say. ANZ and Kiwibank both moved quickly to introduce reductions on their home loan rates by up to 15 basis points.  Westpac cut its floating and one-year rate by 16 basis points. ANZ’s and […]

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