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.
Affordable and energy efficient building materials are needed to ease the housing crisis, the Aotearoa Legalise Cannabis Party says. Increasing the supply of houses will help reduce property inflation and create more affordable housing, especially in Auckland and Christchurch.
The Government must take responsibility for the uncertainty around potential asbestos contamination in Christchurch and reassure residents by testing the potentially affected homes, the Green Party said today.
House prices have shot up by 16 per cent for first-home buyers in Manukau over the last year, pushing the cost of buying a house there to the highest in the country relative to incomes, says Labour’s Associate spokesperson for Auckland Louisa Wall.
New statistics showing New Zealand had its second highest net migration rate in April is evidence the Government must take action to curb the pressure on house prices and inflation, Labour’s Housing spokesperson Phil Twyford says.
The National Government’s housing crisis denial will drive home ownership even further out of reach, fuelled by the Prime Minister’s staggering ignorance of the extent of the problem, the Green Party said today.
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