A loophole in applying LVR restrictions means home owners are struggling to get bridging finance and are effectively shut out of the intensely competitive property market.
The average house price in Auckland and Northland rose to $948,434 in July. Provisional data from Harcourts, New Zealand’s largest real estate group, shows the average sale price in the region is up 15% from July 2016, and up 14.5% compared to June 2016.
The national average asking house price fell in July - the first decline in three months - while demand continued to rise.
The Government’s prediction that Auckland housing will become affordable by 2020 is wrong, according to Phil Eaton, president of the Auckland branch of the Property Council and managing director of The Greenstone Group.
New analysis by economic consultants Infometrics shows the supply response to the housing crisis is on its way, with homebuilding consents forecast to hit record levels by 2018.
More than 55,000 New Zealanders have used Labour’s interactive housing map in its first week to see how the housing crisis is affecting their local community, Labour Housing spokesperson Phil Twyford says.
As the winter chill bites a new nationwide survey reveals the suffering those living in rental accommodation are enduring - and too often pleas to landlords to fix housing problems are being ignored.
Tenants in Auckland’s surrounding regions are feeling the pinch as median weekly asking rents continue to rise.
Data released today by the Real Estate Institute of NZ ("REINZ") shows there were 401 more lifestyle property sales (+19%) for the three months ended June 2016 than for the three months ended June 2015.
PrefabNZ applauds central government’s hands-on leadership in pledging to deliver up to 140 homes for New Zealanders in need, using rapid delivery with modern methods of construction.