Post-Election: The Outlook for Property Investors
The dust has settled a little after the new Labour coalition government was announced on the 19th of October. It’s been an interesting time for investors as we try to work out what impact Labour’s policies on housing will have. There is still a lot more detail left to come on most of the main…
Wellington Northern expressway sparks Wellington buyers’ interest in Levin
[Via Manawatu Standard] Levin house sales are up 71 per cent from October 2014 as the Wellington Northern expressway sparks Wellington buyers’ interest. Real Estate Institute of New Zealand (REINZ) statistics showed 48 houses sold in October 2016, up significantly from the 28 houses sold in October 2014. Compared to October 2015, there had been a…
Rotorua property values rocketing
[Via Rotorua Daily Post] Median property values in Mangakakahi and Utuhina have jumped 30.3 per cent, with Fairy Springs and Western Heights close behind, according to the latest Quotable Value New Zealand E-Valuer report. Mangakakahi values increased from $197,000 to $256,000, while Utuhina rose from $246,750 to $321,450 in the 12 months to September 30.…
Gone in 120 mins: 25 Queenstown sections
Via Otago Daily Times Twenty-five sections at one of Queenstown’s newest subdivisions were snapped up within two hours on Saturday. As the average house price in the resort hit $1 million, Melbourne-based developers RCL Group released stage three of its relatively affordable neighbourhood. Hanley’s Farm is a planned 1750-section development next to Jack’s Point golf…
Christchurch property values rise 9.2 per cent
[Via Scoop] The 2016 rating revaluation shows the overall value of Christchurch property has risen by 9.2 per cent since the last general revaluation in 2013. Christchurch City Council contracted independent valuer Quotable Value (QV) to carry out the revaluation of 167,857 city and Banks Peninsula properties this year. Councils must undertake a general rating…
Where is Christchurch’s ‘hidden’ property growth?
[Via Scoop] Christchurch Property Market Undergoing Major Transformation As More Homeowners Want New Builds CHRISTCHURCH, Thursday 13th October 2016: A leading home building company says recent QV figures showing Christchurch’s property market is “relatively flat” is masking the real truth – that homeowners are shunning earthquake-repaired homes in favour of building new. Golden Homes South…
Nelson housing market the “perfect storm”
[Via Stuff] Rocketing prices, a shortage of stock, and soaring demand have whipped the Nelson-Tasman housing market into a frenzy, experts say. Real Estate agents have described the region’s property market as “ballistic”, “nuts”, “uncomfortable” and a “perfect storm”. But everyone’s careful not to use the word “crisis”, which has come to define the New…
Do you need a 40% deposit to invest now?
IMPORTANT: The Reserve Bank’s 60% LVR announcement this week does not mean you’re locked out of the investment market. Investors are still able to purchase House & Land and Off The Plan apartments at 80% LVR, so expect to see significant investor shift toward these property types while the 60% LVR restriction is in place.…
Are investors being unfairly targeted amid housing boom?
[Via Stuff] Property investors say they are being unfairly blamed for the ever-widening property boom now spreading to the regions. House prices are rising across the country by $10,000 a month, prompting speculation that the Reserve Bank might outline further measures to curb house prices on Thursday. Some of those measures could be “debt-to-income” limits…
Wellington falling short of target to build 7000 homes in 5 years
[Via Stuff] Wellington has admitted it cannot build new homes fast enough to solve its current housing shortage and take the sting out of its rapidly-heating property market. Less than two years into a five-year plan with the Government to build 7000 new homes in the capital, the city council has admitted it will never achieve…