Housing Minister Dr Nick Smith today welcomed the latest Statistics New Zealand figures showing the number of new dwellings consented is at its highest level since 2007.
Home loan affordability worsened slightly across most of New Zealand in May as a rise in interest rates more than offset a small fall in median house prices.
Ohariu MP and Leader of UnitedFuture Hon Peter Dunne welcomed today’s joint announcement between the Government and Wellington City Council to open up more areas for housing in the Wellington region.
The average asking price of homes remains at record levels, not only in Auckland but across the country, according to Realestate.co.nz, the website with New Zealand’s largest number of homes for sale.
There were 529 residential sales in the Northern Region in May, which is down by 6.7% on the same time in 2013, but an increase of 13.2% compared to April’s sales.
A new community development promises to revolutionise the way local people buy property - making property costs more transparent and prices more affordable.
The latest monthly QV Residential Price Movement Index shows that nationwide residential property values for May have increased 8.2% over the past year, and 0.7% over the past three months. This means they are now 13.9% above the previous market peak of late 2007.
Both residential and non-residential building activity volumes grew strongly in the March 2014 quarter, Statistics New Zealand said today. "Overall building activity increased 16 percent in the March 2014 quarter," business indicators manager Neil Kelly said.
Provisional residential data from New Zealand’s largest real estate group Harcourts for the month of May shows house prices remain steady, with the average sales price now sitting at $688,209 in the Northern Region. This is up 11% on the same time last year.
The unassuming provincial city of Gisborne is vying for the title of New Zealand’s hottest residential property investment destination - with a three bedroom ‘renter’ in the city selling this month to an out-of-town investor for a return of almost 15 percent.
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