Author Curreen

Construction
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New Zealand’s construction industry is riding a massive rebound in business confidence, but this may be undermined by skills shortages with 90% of construction firms having difficulty recruiting, finds Civil Contractors New Zealand Findings from the 2021 Construction Industry Survey, a partnership between Teletrac Navman and Civil Contractors New Zealand (CCNZ), validate growing sector confidence, with 50 percent of those polled optimistic the New Zealand construction industry is on the upward trajectory and over half predicting turnover and staff growth in the next 12 months. Continue →
Property Trends
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Property has grown by $19.6b in the last decade to become our largest industry, making up 15% of the country’s total GDP, new analysis from Property Council New Zealand finds The Property Industry Impact Report 2021, commissioned by Property Council New Zealand in partnership with Urban Economics, underscores the impact of the sector, with property out-gunning other top GDP contributors such as manufacturing (11%), agriculture (6%) and health (7%). Continue →
Design
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Building company DCD has won the Master Builders Southern Supreme Award and the House of the Year Award for its beautiful low-energy home Te Toka in Jack’s Point near Queenstown The 820sq m Te Toka is completely self-sufficient due to its own water supply, solar array, battery back-up, generator and stormwater treatment. Continue →
Property Trends
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CoreLogic’s quarterly market report indicates that the market is close to – or at – a turning point, Chief Property Economist Kelvin Davidson explains This is mainly off the back of affordability pressures, the 40% deposit requirement and extended bright-line test for investors, the tightening of interest deductibility rules, as well as the approval for the Reserve Bank of New Zealand (RBNZ) to look at debt to income restrictions. Continue →
Property Trends
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Despite Government measures to cool the property market, this year saw the most properties sold in June for five years while New Zealand’s median house price rose again to $820,000 according to the latest data from REINZ Median prices for residential property across New Zealand increased by 28.7% from $637,000 in June 2020 to $820,000 in June 2021. Continue →
Engineering
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A modular apartment block has taken shape in just 28 hours in what the Chinese developer claims is a world first, The Urban Developer reports Chinese company Broad Group released vision of the tower that was lifted into place and bolted together in 28 hours and 45 minutes, in what the company claims is the “shortest construction period” for a building of that scale. Continue →
Commercial
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Commercial office, retail and industrial markets, one year on from the end of New Zealand’s national lockdown, have performed more strongly than expected, according to a recent research report by Colliers The report notes that the effect of lockdowns on the commercial property sectors, both locally and internationally, however, has varied across market sectors. Continue →
Property Trends
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CoreLogic’s House Price Index shows market momentum is starting to fade throughout the country, but some areas are already seeing values decline, CoreLogic Head of Research Nick Goodall explains According to the CoreLogic House Price Index (HPI), which is the most complete and robust measure of property value change in the market, nationwide values increased by 1.8% over June. Continue →
Housing
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The Government has released the first draft of the Natural and Built Environments Act (NBA), one of the proposed laws meant to replace the cumbersome Resource Management Act (RMA) which has stunted New Zealand’s ability to build more houses Reforming the Resource Management Act has been seen as a once in a generation opportunity to improve New Zealand’s ability to deliver more housing. Continue →
Industrial
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In Australia, an extra 500,000sq m of industrial space is needed each year to accommodate consumers’ appetites for online retail, The Urban Developer reports A CBRE report into the exponential growth of e-commerce and its impact on the industrial and logistics market has forecast an additional 35 per cent more space would be required to meet demand over the next five years. Continue →
Housing
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A United Nations report suggests New Zealand follow in Canada’s footsteps by adopting a human rights approach to housing policy and makes 27 recommendations for Government to address the crisis The housing crisis is a human rights crisis in New Zealand according to the United Nations (UN) Special Rapporteur on adequate housing in a new report officially tabled over night at the UN Human Rights Council in Geneva. Continue →
Property Trends
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CoreLogic’s Mid-Year Best of the Best review reveals the 2021 property market upswing is happening nationwide, not just in main centres Herne Bay remains New Zealand’s most expensive suburb (median value of $3.16m), but in terms of value growth, cheaper areas have been far superior. Continue →
Property Trends
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REINZ’s latest figures are a clear indication that despite intervention from the Government and the Reserve Bank, house prices will continue to skyrocket until supply catches up with demand Median prices for residential property across New Zealand increased by 32.3% from $620,000 in May 2020 to $820,000 in May 2021, driven by inventory levels being at their lowest point ever. Continue →
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