Author Curreen

Housing
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Following an extended period of elevated development activity across New Zealand, Colliers expects new building construction to fall to its lowest levels since the Global Financial Crisis within the next 12 months A confluence of mounting challenges has resulted in a marked slowdown in development activity over recent months. Continue →
Property Trends
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Real estate agency Paterson Luxury is reporting a surge of enquiries from Europe, the US and Asia following the National Party’s announcement that it would allow overseas buyers to purchase properties upwards of $2 million and tax those transactions at 15% Caleb Paterson of real estate agency Paterson Luxury, says news of the policy reached buyers in offshore markets almost immediately, triggering a surge in calls to his firm. Continue →
Training & Management
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In the last election, more than 200,000 New Zealanders’ votes did not count toward the final result – an independent review is expected to call for changes which will give more people a voice in parliament The discussion and debate of different views are a healthy part of democracy, so when some views are not represented in parliament, this can give rise to unrest and division. Continue →
Construction
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Waihanga Ara Rau, the Workforce Development Council for Construction and Infrastructure, has published its Statement of Strategic Direction (SSD) outlining what it intends to achieve for the sector over the next five years The Waihanga Ara Rau SSD outlines a focused and collaborative approach to shaping the future of Aotearoa, by strengthening the construction and infrastructure industry workforce. Continue →
Commercial
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JLL explores what is happening across New Zealand’s biggest cities in the office, retail and industrial and logistics markets Office The gulf between prime and secondary office space for lease continues to widen as tenants and employers seek properties that are better equipped to attract and retain the best talent in the market. Continue →
Property Trends
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The Reserve Bank of New Zealand (RBNZ) leaving the official cash rate (OCR) unchanged at 5.5% will have surprised very few people, but it has hinted at when interest rates might start to fall, CoreLogic Chief Economist Kelvin Davidson observes The decision itself and the associated forecasts as part of its full Monetary Policy Statement had a distinct sense of ‘we’ve been here before’ – with the anticipated tracks for GDP growth (subdued), unemployment (edging upwards), and inflation (slowly falling) largely unchanged from last time the RBNZ published their full forecasts on 24th May. Continue →
Property Trends
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More competitive prices and a ‘get in now’ attitude is bringing more buyers out ahead of this year’s election, but a potential change in Government and ongoing tighter economic conditions are seeing sellers holding back, REINZ Chief Executive Jen Baird says The Real Estate Institute of New Zealand’s (REINZ) July 2023 figures show more activity emerging while listing numbers remain low seeing total stock numbers fall and some regions have seen little movement in median prices. Continue →
Commercial
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The Farmers building, a prominent fixture of Queen Street in the heart of central Auckland, is being presented to the market for sale by Colliers Unit A, 210 Queen Street, Auckland is a five-level retail premises that has approximately 3,700sq m of floor area, of which 78 per cent is occupied by anchor tenant Farmers. Continue →
Construction
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The Ministry of Business, Innovation and Employment (MBIE) says it wants to modernise the building consent system to provide assurance to building owners and users that building work will be done right the first time and that buildings are healthy, safe and durable The review is an end-to-end review of the building consent system – from the building design phase through to the issuing of a code compliance certificate. Continue →
Luxury
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The growing influence of offshore buyers in recent years is seeing our top-end properties become more extravagant, says Caleb Paterson of Paterson Luxury, which specialises in multi-million dollar residential estate sales New Zealand’s most expensive residential homes are increasingly becoming more opulent as buyers install internationally inspired ‘showpiece’ features and technology, ranging from solid gold bath taps to state-of-the-art wardrobe security systems for million-dollar-plus designer handbag collections. Continue →
Property Trends
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Relocating owner-occupiers, or ‘movers’, have been relatively inactive over the past year or so, with upsizing, downsizing, and ‘new to area’ moves all drifting lower, CoreLogic Chief Economist Kelvin Davidson observes The CoreLogic Buyer Classification figures suggest there’s perhaps been less of a COVID-driven hunt for extra space going on than might have been perceived. Continue →
Construction
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Despite shrink-wrap being the most convenient solution to keep the weather out, Auckland Council’s Senior Waste Planning Specialist Mark Roberts was adamant it would not be used for remedial work on the Waiōrea Community Recycling Centre The 1930s Western Springs building will open in August this year after extensive remedial work on the roof and parapet. Continue →
Materials
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New Zealand-based manufacturers, importers, retailers and distributers will be hit with new obligations to provide building product users with information about how building products contribute to compliance with the Building Code The regulations will commence on 11 December 2023 by which time manufactures and importers must meet their obligations. Continue →
Property Trends
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Compared to this time last year, there has been a noticeable increase in sales in the residential property market, though the number of new listings is lagging, new REINZ figures show The Real Estate Institute of New Zealand’s (REINZ) June 2023 figures show a renewed level of activity emerging.  Continue →
Construction
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In the face of a myriad of challenges, including the cost of goods and a shortage of staff, medium sized businesses in the construction sector have not been afraid to invest in innovation, an MYOB survey finds The effects of inflation are weighing heavily on many in the sector and with business leaders anticipating more headwinds over the coming months, attention now turns to investing in innovation to strengthen performance and drive growth. Continue →
Property Trends
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Declining home values continue to soften in many parts of New Zealand, yet QV says we are likely to see that rate of reduction both leap and fall in the coming months as a result of reduced sales activity The QV House Price Index for June 2023 shows the average home decreased in value by 1.8% nationally this quarter, a smaller rate of decline from the 3.4% decrease in quarterly value change experienced back in May. Continue →
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