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Affordability of Riccarton housing development questioned

Labour is questioning whether homes proposed in a large soon-to-be-announced housing development on Christchurch Racing Club-owned land in Riccarton will be affordable.

Strong demand continues to drive rents

The national median weekly rent continued to increase strongly in February landing at $410 per week, up 6.5 per cent compared with a year ago. This is just below last month’s all-time high of $420 per week.

Property price expectations on the rise

Summer confidence has infected the residential property market and asking prices ticked up just over 1 per cent, according to Trade Me Property’s analysis of new listings for the three months to February 2015.

Bill to amend leaky homes assistance package

The Government is proposing changes to the Financial Assistance Package available under the Weathertight Homes Resolution Services Act to provide clarity of eligibility that will help more owners of leaky homes access assistance, Building and Housing Minister Dr Nick Smith announced today.

NZ's largest residential development officially underway

The start of construction on Albany Rose Gardens’ apartments - the largest residential development in the country - was officially celebrated on Friday 6th March at Westfield Mall, Albany.

Bankrupt property developer's derelict mansion on the market

A spectacular clifftop mansion built by a former high-flying property developer - but unlived in for the past 10 years - has been placed on the market for sale.

BNZ to provide specialist service for new home builders

With the housing shortage reaching ever-increasing highs in Auckland and Christchurch, BNZ is piloting a service to provide specialist support to those building new homes. The BNZ Housing Under Construction Hub, provides specialised service and expert advice to customers building new homes.

Commercial property values 'driven up by falling capitalisation rate'

Auckland property financier James Kellow says many of the best commercial properties in and around Auckland are now selling well below the ‘standard’ seven percent capitalisation rate.

Building work tops $15 billion in 2014

More than $15 billion worth of building work was carried out in 2014, Statistics New Zealand said today. The latest value was $2.8 billion higher than in 2013, a 23 percent rise.

Average house price in Auckland/Northland 'at a 12 month high'

Provisional residential data from New Zealand’s largest real estate group, Harcourts for the month of February shows that the average property price in Auckland/Northland is at a 12 month high of $767,254.