Housing became a little more affordable for first home buyers last month thanks to a combination of falling mortgage interest rates and a slight drop in lower quartile house prices.
Today’s reduction in the Official Cash Rate appears to be in line with expectations in the property markets, the Chief Executive Officer of the Real Estate Institute of New Zealand, Colleen Milne, says.
Property Council is pleased Auckland Council has acknowledged that the Proposed Auckland Unitary Plan (PAUP) needs to be more flexible.
Data released today by the Real Estate Institute of NZ ("REINZ") shows there were 62 fewer farm sales (-11.5%) for the three months ended June 2015 than for the three months ended June 2014.
While Auckland’s property market is continuing to experience massive demand and significant increases in average asking prices, Trade Me Property data shows the City of Sails is at odds with what is happening in much of the rest of the country.
Both Labour and National are playing politics over skyrocketing demand for Auckland homes and both parties are too afraid to do what’s actually needed, which is introduce a capital gains tax on all properties but the family home, the Green Party says.
The new regulation framework proposed by Government for rental properties is better than the status quo but does not go far enough, says Community Housing Aotearoa (CHA), the peak body for the community housing sector.
"Once upon time winter was the off-season for real estate, but not any more particularly in Auckland," says Geoff Barnett - National Manager, Century 21 New Zealand.
Yesterday the government announced they would not be implementing the debated Warrant of Fitness (WOF) for rental homes, instead announcing a ‘watered-down’ version, with all rental properties requiring smoke alarms to be installed by July next year and to be insulated by July 2019.
Property Institute of New Zealand Chief Executive, Ashley Church, says that the Government has missed a chance to enact ‘meaningful’ changes in a suite of new measures targeted at Landlords.
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