Latest Property Headlines

The proposed anti-foreign house-buyer ban here has gone much further than Australia, prohibiting non-residents from not only buying an existing house but also building a house or buying a property off the plans without consent, a top lawyer says. Even if consent was granted, foreigners would need to sell property here within a year said Auckland […]

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Property Institute chief executive Ashley Church expects housing rents to increase rapidly in the next two years – an issue which will overtake high house prices as a far larger problem. “The cost of renting will continue to rise and this will replace the cost of housing as the number one housing issue in 2018,” he […]

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The 90-day trial will go and meal breaks will return for most Kiwi employees under changes to the employment law brought in by the new Government. The Government will ban 90-day trial periods for any business with more than 19 employees as part of the overhaul. The controversial fire-at-will scheme, introduced by the last government, gave employers the […]

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Tauranga has outranked Auckland to be New Zealand’s most unaffordable city, where residents can expect to fork out 8.8 times their annual household income to buy a home. Demographia’s 14th International Housing and Affordability Survey showed Auckland was slightly more affordable than it had been in previous years, moving from the world’s fourth most unaffordable city to the ninth on […]

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The number of Wellington available rentals have plummeted to a record 70%. Head of Trade Me Property Nigel Jeffries said “We haven’t seen anything like this before, it’s quite unusual,” “It’s a record drop as far as our records go back.” Trade Me’s data shows the number of listings remains around the same, but properties are […]

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Within 10 years of giving up work most retirees will use up their savings and be reliant on national superannuation, according to new research. The Financial Services Council said the study showed senior New Zealanders were not well updated, and would rely on property and superannuation in retirement. The Council said on average, retirees thought they […]

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Property managers and landlords can access a score assessing a prospective tenant’s potential risk. Tenancy Information New Zealand (TINZ) has launched a Tenancy Risk Score, which ranks individuals and companies from 0 to 1,000. A good score is 600-1,000 and a poor score is 500 or below. The average score across the database is 630. […]

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The Reserve Bank will release its Financial Stability Report tomorrow which should signal the Reserve Bank’s intentions for the LVR restrictions it put in place in 2013 to try to ease the Auckland property market. Finance Minister Grant Robertson said there had been some softening in the property market but there were still underlying issues […]

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The latest market update from CoreLogic suggests that New Zealand is starting to get a good feel for the likely changes to the property market, after the announcement of a new government. CoreLogic head of research Nick Goodall said the government has been clever in using the Overseas Investment Act to restrict foreign citizens from buying […]

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The Reserve Bank’s dropping fairly firm hints that it might be about to start removing the restrictions on high loan to value lending (LVRs), with a decision possibly set to be announced late this month. The LVR restrictions, one of the RBNZ’s ‘macro-prudential’ tools, fall under the gamut of the bank’s financial stability role. The […]

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