Latest Property Headlines

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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The minister for land information said that New Zealand’s land transfer system will aim to be a world-leading solution for modern property transactions, reflecting the fact that most are now done online and make it more efficient. “The land transfer system secures people’s ownership of land and provides certainty and fairness,” Mark Mitchell said following […]

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Property valuation firm QV says that the pace of house price growth is the slowest since March 2015. New Zealand’s home values increased 8.1% in the year to June with a 1.2% gain in the past three months. The national average price rose to $639,051 which is more than 54% above the previous peak of […]

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Wyndham Hotel Group today announced its third “Ramada Suites” complex in Auckland. It is the company’s twelfth property in New Zealand. The $70 million dollar hotel features 47-rooms above the historic Cambridge clothing factory ,on the corner of 147 Victoria St West and Graham St and is due to be complete in late 2018. Local […]

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Minister Supporting Greater Christchurch Regeneration Nicky Wagner announced this morning the government’s plan to support the reinstatement of the Christ Church Cathedral . She said the government would pay $10m and offer an interest-free loan of $15m, the Christchurch City Council had offered another $10m and the Great Christchurch Buildings Trust had pledged $13.7m. That […]

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