Author Curreen

Commercial
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New Zealand’s hotel market has shown a surprisingly strong rebound since the domestic travel restrictions lifted in June, with demand being driven by tourism, business and mandatory isolation, Colliers reports Colliers International’s latest New Zealand Hotel Market Snapshot, released this week, examines the impact that Covid-19 has had on the sector, and the early beginnings of the recovery process. Continue →
Opinion
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New Zealand real estate is facing a triple whammy in September which will be detrimental to house prices and industry activity unless the Government steps in, argues Century 21 New Zealand Owner Derryn Mayne The real estate leader says with the general election and the end of the extended wage subsidy scheme both firmly locked in for September, extending the mortgage holiday scheme is a no-brainer. Continue →
Property Trends
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The ‘good times’ that have re-emerged for property since April are more likely to fade out in the second half of the year than to roll on, warns Core Logic Senior Research Analyst Kelvin Davidson It’s obviously been an unprecedented year for the economy and property market so far in 2020, but it’s at least been reassuring that the number of appraisals generated by real estate agents, for-sale and for-rent listings, valuations ordered by banks, mortgage lending flows, and agreed sales activity have all rebounded since we left alert level four lockdown in late April. Continue →
Construction
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Construction and infrastructure leaders are calling for urgency around the release of the government’s full list of ‘shovel-ready projects’ as increasing numbers of workers face redundancy and business confidence amongst construction and infrastructure companies nose-dives Early this month the Government announced it had selected 150 projects worth NZD$2.6b that would create or retain 20,000 jobs. Continue →
Property Trends
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House prices have continued to surpass predictions for how they would perform post-COVID, with median house prices across New Zealand increasing to $639,000, according to the latest data from the Real Estate Institute of New Zealand (REINZ) June marks 105 months in a row of year-on-year median prices increases for the country. Continue →
Property Trends
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According to the June 2020 QV House Price Index (HPI) results, the impact of the COVID-19 pandemic and ensuing economic shutdown on the property market is starting to show, says CoreLogic Head of Research Nick Goodall Nationwide property values dropped -0.2% according to the latest monthly reading, and were down in four of the six main centres. Continue →
Construction
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$2.6 billion of the shovel ready infrastructure fund has been allocated to 150 projects, but details on these projects are sorely needed for the infrastructure sector to plan its future workforce needs Ministers Robertson and Jones announced today that $2.6 billion of the $3 billion shovel ready fund has been allocated to 150 projects, with $400m still to be allocated. Continue →
Rental
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In the coming months, there are likely to be some ‘bargains’ on offer for property investors, although a slowdown in value growth may well mean more emphasis on a property’s rental yield, says CoreLogic Senior Research Analyst Kelvin Davidson Heading into alert level four lockdown, momentum for both property values and rents across the country was pretty strong (see the first chart), and investors had been taking a higher share of purchases – partly due to solid property returns themselves, but also falling returns on other assets (e.g. Continue →
Development
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Kāinga Ora is playing its part in the regeneration of Avondale town centre by confirming its plans to build a new housing development known as Highbury Triangle The development, which is located between Great North Road and Community Lane, is expected to include 236 homes, which will predominately be made up of a state housing complex for older people, alongside a component of market homes and commercial space. Continue →
Property Trends
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Property sales were up 191% from April to May but still down from last year by 46.6%, with prices fluctuating across the country, the Real Estate Institute of New Zealand (REINZ) has revealed The number of properties sold in May across New Zealand decreased by 46.6% from the same time last year – from 7,477 to 3,990 – as Alert Level 3 restrictions on the real estate market still made it difficult for property sales to occur, according to the latest data from the Real Estate Institute of New Zealand (REINZ), source of the most complete and accurate real estate data in New Zealand. Continue →
Development
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Well-designed and well-situated residential developments will always sell, and demand for affordable housing remains strong, says Director of New Zealand Mortgages & Securities (NZMS) James Kellow Auckland’s largest non-bank property financier remains extremely confident in the region’s long-term future. Continue →
Construction
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With the announcement today that New Zealand is moving to COVID-19 alert level 1 at 11:59 on Monday 8th June, the construction industry has now published a revised standard and protocols for ongoing operations Key changes from alert level 2 to alert level 1 are: The relaxing of physical distancing requirements on site. Continue →
Commercial
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Property Council New Zealand and the New Zealand Council of Retail Property have voiced concerns over the Government’s proposal to intervene in the industries contractual relationships “The announcement of a commercial rent dispute process is too little, too late for a majority of landlords and tenants”, says Property Council chief executive Leonie Freeman. Continue →
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