Latest Property Headlines

A retiring couple need a nest egg of $785,000 to live a “choices” lifestyle in a city, but if they are in regional New Zealand they only need $492,000. Massey University’s annual Retirement Expenditure Guidelines, which are now embedded in many KiwiSaver calculators, shows the estimated nest eggs retirees need to fund the spending gap […]

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The dangers of buying a leasehold apartment have been shown by the sale of an Auckland unit. The two-bedroom apartment, in the Scene Three building on Beach Rd, central Auckland, sold for $65,500 this week and is believed to have had a reserve of $57,500. That would be bad enough in an area with a median […]

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Due to the earthquakes Christchurch isn’t operating on the same property cycle as the rest of the country, so while many markets have hit their peak, the Christchurch market is on a unique trajectory. It’s an important distinction to make, says Braziers Property Management’s Tony Brazier, because if investors are investing cyclically, they need to […]

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Private Landlords have been given just over two years to ensure rental properties meet the Government’s healthy home standards but it could mean tenants will wind up paying more rent. Private landlords have until July 1, 2021 to ensure rental properties comply with the standards, while Housing NZ and other social housing providers have another two years. Housing […]

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The Tax Working Group has recommended the Government implement a capital gains tax – and use the money gained to lower the personal tax rate and to target polluters. The suggested capital gains tax (CGT) would cover assets such as land, shares, investment properties, business assets and intellectual property. Any gains on the sale of […]

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Final recommendations from the Tax Working Group will be out on Thursday and industry groups, lobbyists, iwi authorities, financial experts and institutions are gearing up to react. The group, chaired by former finance minister Sir Michael Cullen, released an interim report last year which said it had “identified a list of asset classes that are not already subject to […]

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Acceptance that Auckland is now a buyer’s market has set in as Barfoot & Thompson’s latest data reveals a modest start to the year. Prices in the Auckland region continue to flat line, according to the real estate agency’s January data. Both the average sales price ($927,181) and the median sale price ($827,500) were down […]

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This might be about as busy as the New Zealand construction industry gets, economists say. There were 32,996 new homes consented for in the year to December. The number of consents that went to central government agencies hit a 40-year high. Those departments, including Housing New Zealand, were responsible for 1999 new home consents in […]

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A ban on letting fees has come into effect, meaning the cost of renting is about to become cheaper – right? Wrong… living costs are likely to go up and it’s likely the letting fee will now just be built into rents. The Government was universally warned this would happen, not just by the industry […]

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The majority of New Zealanders believe they need to be saving more for retirement, according to ASB’s latest KiwiSaver survey. ASB’s Q3 2018 survey revealed that almost 60% of respondents believe KiwiSaver should be made a compulsory scheme,  62% believe they need to be saving more for retirement,  21% were comfortable that they did not need […]

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