Author Curreen

Construction
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The cost of both residential and non-residential construction rose more than 10% last year and similar forecasts are expected for 2022 according to the NZ Infrastructure Commission’s Quarterly report “Infrastructure providers, property developers, and households are trying to build more than ever, but labour shortages, material supply chain bottlenecks, and Covid-induced slowdowns have gotten in the way,” says Commission Director of Economics, Peter Nunns. Continue →
Development
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A new rating system has rolled out in New South Wales to stop “a few bad apples” ruining the reputation of developers in Sydney, The Urban Developer reports The state government’s independent rating initiative comes as research found at least one-in-four apartment blocks in Sydney had one or more defects, including cracking, fire safety and water issues. Continue →
Property Trends
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The property market likely moved through its peak rate of growth late in 2021, following a raft of political interventions designed to cool the overheated market, CoreLogic Chief Property Economist Kelvin Davidson says The total value of residential real estate reached $1.72 trillion at the end of Q4 2021, up from $1.35 trillion at the end of 2020, with mortgages secured against 19% of that value, and the other 81% household equity. Continue →
Construction
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Construction in most of New Zealand has been operating under the Orange setting of the Covid-19 protection framework – SiteSafe and CHASNZ have worked with the industry to develop protocols for operating under the Red setting Site Entry Keep a record of who is on site, and when, every day as you may be required to track back for contact tracing. Continue →
Property Trends
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These latest statistics will be a wake-up call to the Government and Reserve Bank – if they continue to tighten the screws too hard, the very people they’re trying to protect will be the ones most adversely affected, Century 21 New Zealand Owner Tim Kearins says We’re starting to see the lending restrictions that took effect in November and December playing out in the Real Estate’s Institute’s latest monthly statistics. Continue →
Construction
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The Construction Sector Accord has published new guidance to support government buyers and industry suppliers in applying broader outcomes in construction procurement Broader outcomes are the additional benefits that can be achieved by the way a service, project or goods are produced or delivered. Continue →
Property Trends
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It’s harder now to get a mortgage than it has been at any point since the financial markets were deregulated in the 1980s under Prime Minister Robert Muldoon, says economist Tony Alexander Diana Clement & Tony Alexander – OneRoof Mortgage brokers are reporting that clients who thought they had finance in the bag are being refused, sometimes after going unconditional on purchase. Continue →
Construction
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Construction insolvencies made up a quarter of all business insolvencies in the country, spurred further by construction cost rises due to increased demand and supply shortages, the Australian Constructors Association finds Renee Mckeown – The Urban Developer More needs to be done to increase productivity and reduce insolvencies before Australia’s infrastructure activity doubles to the projected $52 billion in 2023. Continue →
Property Trends
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CoreLogic’s December House Price Index closes out a record year, with 27.6% growth over the full calendar year and the average home value now exceeding $1m for the first time, but change could be on the way, says CoreLogic NZ Head of Research Nick Goodall With the average house price in New Zealand now sitting at $1,006,632, 2021 was truly a remarkable year in the property market. Continue →
Property Trends
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Property prices climbed further in November and early signals suggest this growth will continue, though more moderately, according to the latest data from the Real Estate Institute of New Zealand (REINZ) Median prices for residential property across New Zealand increased by 23.8% from $747,000 in November 2020 to $925,000 in November 2021 — a new record high. Continue →
Property Trends
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The signs that the total stock of listings on the market has embarked on a firm upwards trend are becoming much clearer, says CoreLogic Chief Economist Kelvin Davidson Across NZ as a whole, total supply is still relatively tight, but some key areas, such as Dunedin and Wellington, are loosening quickly. Continue →
Construction
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The adoption of 4.0 technologies in the construction industry will boost productivity and increase wages by billions, BERL research finds Dr Troy Coyle, HERA Chief Executive Construction 4.0 is the name applied to the technologies that are driving the next great industrial revolution, as applied to the construction sector. Continue →
Construction
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CHASNZ has released a set of new protocols for the construction industry once New Zealand enters the new Covid-19 Protection Framework on December 3 A construction industry advisory group revised the previous COVID-19 Alert Level system construction protocols in response to the Government’s recently announced COVID-19 Protection Framework – also known as the Traffic Light system. Continue →
Design
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Competition for the 2021 Supreme Award was fierce, with 109 properties from around the country vying for the top accolade, but in the end it was Auckland’s new 180m skyscraper that took home the award Precinct Properties’ landmark 97,500 sqm PwC Tower, part of the mixed-use Commercial Bay development, has won the Supreme Award at the 2021 Property Council New Zealand Rider Levett Bucknall Property Industry Awards. Continue →
Training & Management
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Kiwi Property reported a 164% increase in net profit in the last six months as it looks at breaking ground on new developments, launching a new asset class and identifying new funding streams Kiwi Property today announced its interim financial result for the six months ended 30 September 2021, reporting an increase in all key operating metrics on the prior comparable period, including growth in income, profitability, asset values and interim dividend. Continue →
Construction
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For over eighteen months, the construction sector has experienced unprecedented project delays, budget blowouts, and shortages of labour, says Rob Bryant InEight EVP of APAC Rob Bryant In Australia, construction site closures in New South Wales have contributed to timeline overruns, in addition to costing the building sector a conservative estimate of $1 billion per week in that state alone.    Continue →
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