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Property

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.

Auckland apartment block sells out ahead of completion

All 91 apartments in the residential development, Hopetoun Residences on Ponsonby’s doorstep have sold out six months ahead of completion.

Average asking price for houses rises above $500,000

The average asking price of homes for sale in New Zealand during February was $511,421 according to the latest monthly data from Realestate.co.nz, marking the first time that sellers’ expectations have pushed the asking price above the half million dollar threshold.

Auckland building consents 'tragic' - Twyford

The only word to describe the latest building consent figures for Auckland is ‘tragic’, Labour’s Housing spokesperson Phil Twyford says. "Whatever the Government is doing to address the Auckland housing crisis, it is clearly not working.

Dwelling consents up in January

The number of new dwellings consented was 3.6 percent higher in January 2015, compared with January 2014, Statistics New Zealand said today. Excluding apartments, this number was 6.8 percent lower.

Property Institute wants LVR restrictions scrapped in provinces

Property Institute of New Zealand Chief Executive, Ashley Church, is calling for the Reserve Banks Loan-to-value mortgage restrictions to be scrapped in the regions claiming that they are having an ‘unreasonable and adverse impact’ on first home buyers in provincial towns and cities.

Could Hamilton's median house price top $400,000 in 2015?

Lodge Real Estate’s managing director, Jeremy O’Rourke, said today that January house sales were extremely strong and a great indicator of a buoyant year ahead for Hamilton’s residential market.