Author Curreen

Construction
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While New Zealand construction companies are more likely to embrace technology and sustainability than their Australian counterparts, they are spending more time on rework or fixing defects, a Procore report reveals Procore’s How We Build Now report found that one in every six hours (16% of project time) is spent on rework – a clear sign of lost productivity in an industry facing challenging market conditions. Continue →
Property Trends
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With housing credit tight and getting more expensive by the week, this trend towards weaker housing market conditions is likely to continue, CoreLogic NZ Head of Research Nick Goodall says CoreLogic’s House Price Index (HPI) shows that the downwards momentum in NZ residential real estate values continued throughout May 2022.  Continue →
Property Trends
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For the housing market, the implications are clear – we’re not yet at the end of this rising cycle for mortgage rates, says CoreLogic Chief Economist Kelvin Davidson With inflation still high and unemployment very low, there were clearly no barriers to raising the Official Cash Rate by 0.5%, bringing it to 2%. Continue →
Housing
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Like New Zealand, Australia is facing issues with housing affordability, but industry groups are confident the new government’s housing policies could help turn things around, the Urban Developer reports Industry groups have given the new federal Labor government’s housing policies a tick, saying they are confident that it will help tackle housing affordability. Continue →
Property Trends
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The presence of first home buyers has fallen sharply this year, CoreLogic reports, but changes to First Home Grants and Loans could turn things around – or add more fuel to the fire CoreLogic’s biannual First Home Buyer report, reveals 22.5% of all buyers in the first three months of 2022 bought a property for the first time compared to 26% in the second half of 2021. Continue →
Housing
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The Government has announced its plan to get New Zealand to zero carbon emissions by 2050, but more can be done with housing and buildings One of the biggest ways to reduce our emissions is to encourage high quality intensification of our housing supply across our metropolitan centres and along transit routes, says Property Council New Zealand Chief Executive Leonie Freeman. Continue →
Property Trends
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The New Zealand property market is still settling into its current phase — as reflected by volatility across the regions, with a 31.6% annual price increase in one region and a 5.0% decrease in another, REINZ Chief Executive Jen Baird says Across New Zealand, median prices for residential property increased 8.8% annually, from $804,362 in April 2021 to $875,000 in April 2022. Continue →
Housing
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The National Policy Statement on Urban Design (NPS-UD) and the introduction of Medium Density Residential Standards (MDRS) are the latest steps being taken by the government to compel city councils to accelerate intensification of development, Colliers says The legislation has significant implications for city planners, developers and property owners. Continue →
Engineering
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The tallest timber building in the world will rise in Perth, if approved, after a $350-million development application was lodged by Melbourne’s Grange Development The developer has submitted plans with the City of South Perth for a 50-storey hybrid timber tower comprising 245 apartments at 6 Charles Street . Continue →
Housing
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After committing over a third of its housing acceleration fund to five Auckland suburbs, the Government could only promise up to $55.1m for a Maori housing project in New Plymouth Around 400 urban renewal projects in Mt Roskill, Mangere, Tāmaki, Oranga and Northcote will receive funding from the Government’s $3.8 billion Housing Acceleration Fund (HAF) to unlock more housing, Housing Minister Megan Woods says. Continue →
Materials
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A revolutionary new plasterboard design incorporating seaweed could reduce the carbon footprint of building materials thanks to the work of a Canterbury student 21-year-old Bachelor of Product Design student Andy (Minhong) Park has developed a biocomposite wall panel that uses algae – or seaweed – as a bio-filler to help the building and construction industries become greener. Continue →
Property Trends
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Through 2021, demand side pressure caused an urgency to ‘buy now or miss out later’, and activity in auction rooms reflected this buyer sentiment – now quality is king, REINZ Chief Executive Jen Baird says The auction process is an effective way of selling in any market – however the dynamics. Continue →
Property Trends
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After such a significant upswing in values, some of the areas which saw the greatest deterioration in affordability are now also at risk of the greatest vulnerability, CoreLogic NZ Head of Research Nick Goodall says The impact of tightening credit and increasing interest rates has reduced the pool of buyers who are willing and able to pay recent prices and this has led to a reduced number of property transactions. Continue →
Housing
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Building consent numbers will likely peak in the first half of 2022 – if left unchecked, the issues of housing supply and housing unaffordability could worsen significantly this year, Brad Olsen from Infometrics warns Annual inflation in the year to the December 2021 quarter was 5.9%, well outside the Reserve Bank of New Zealand’s target of keeping inflation between 1 and 3% on average over the medium term. Continue →
Commercial
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With light at the end of the tunnel shining brighter now that the Omicron peak has passed in an increasing number of countries, the conversation is inevitably turning to how its influence on property markets will impact future performance, Colliers reports What is becoming clear from the data we are collecting is that while some long-term trends are back, occupiers, investors and developers will need to blend new trends into their strategies for 2022 and beyond. Continue →
Environment
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Exacerbated flood risks associated with climate change will affect future property values in vulnerable areas as the intensity and frequency of flooding increase University of Otago researchers have launched a vital study into climate change that will leverage CoreLogic NZ’s property database to learn how future coastal flooding could impact residential property values. Continue →
Property Trends
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Signs of weakness have begun to show in dozens of suburbs across New Zealand, CoreLogic’s interactive Mapping the Market Report reveals New Zealand’s housing market has reached a clear turning point, as stretched affordability, higher mortgage rates and reduced credit availability cause growth rates to slow, or even turn negative, in many areas of the country. Continue →
Property Trends
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It’s been a bizarre period for the housing market ever since New Zealand entered its first lockdown on 25 March 2020, with predictions of large falls in property values turning out to be way off track, CoreLogic Chief Economist Kelvin Davidson observes After an initial four to five month period of housing uncertainty, the policy changes that were aimed at supporting the real economy – e.g. Continue →
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