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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Christchurch hospitality landlord Antony Gough is selling a beachfront block in New Brighton. Gough said he had “his hands full” with his central city projects and thought it was “a good time to sell” as redevelopment of the New Brighton waterfront was now under way. The New Brighton property will be auctioned next month. The […]

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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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Property investment is probably the closest anyone can get to a legitimate “get rich quick” scheme. There are risks, of course. It’s the main way that most New Zealanders get from “average” to “pretty well-off, thanks for asking”. Of the top 20 people on New Zealand’s rich list, almost half built their wealth through property […]

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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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