Author Curreen

Housing
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As more and more student flats are taken off the market in Auckland’s university precinct, a $250 million facility will provide a new accommodation model that could be rolled out nationwide The opening of New Zealand’s largest student accommodation facility is set to boost the infrastructure of the country’s tertiary education sector. Continue →
Industrial
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Ongoing tenant demand for industrial property has kept vacancy rates at historically low levels, despite higher interest rates, a cooling economy, and increased development activity, Colliers reports   Although, sales activity volumes for industrial premises have slowed due to challenging economic and tougher financial conditions, industrial property’s strong fundamentals continue to underpin the sector’s safe-haven credentials which have seen the sector’s share of total commercial and industrial sales increasing. Continue →
Property Trends
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While a 0.5% increase to the official cash rate (OCR) came as a surprise to some, taking it to 5.25% – its highest level since 2008, others say it is still workable CoreLogic Chief Economist Kelvin Davidson says the increase was larger than he and many other commentators had been anticipating, but it reflects the Reserve Bank’s (RBNZ) continued concerns about inflation. Continue →
Construction
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Homeowners may not be fully aware of how much it might now cost to rebuild their most valuable asset, CoreLogic says In just the first two months of 2023 New Zealand has experienced two significant weather events, with the Auckland Anniversary Weekend flooding alone expected to cost more than $1 billion, far exceeding the $350 million in insured losses recorded in 2022, previously the biggest year to date. Continue →
Commercial
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The prominent property at the heart of Auckland’s CBD is being presented to the market by Colliers, who say it is an opportunity to acquire one of the city’s most recognisable buildings The nine-level Skyworld entertainment centre sits at 291-297 Queen Street, Auckland and provides approximately 16,000sq m of total net lettable area on a 3,486sq m freehold site that is zoned Business – City Centre Zone under the Auckland Unitary Plan. Continue →
Construction
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Whether you are building a single-story home or a skyscraper, Medshop explores some of the most common dangers so you can remain educated and secure in your work environment Though the construction industry has advanced significantly in protecting its workers, there are still potential health and safety hazards you must manage onsite. Continue →
Industrial
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Demolishing and rebuilding warehouses in a flourishing industrial real estate sector may sound counterintuitive, but for a growing number of warehouse owners, the old buildings just don’t have what their tenants need, JLL reports Redeveloping industrial real estate in a strong market aims to address modern demands. Continue →
Property Trends
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The impact of ongoing economic headwinds and Cyclone Gabrielle is reflected in REINZ’s latest figures, but some data returns to ‘normal’ amidst a big clean-up job across the upper north and eastern North Island The Real Estate Institute of New Zealand’s (REINZ) February 2023 figures show a lesser rate of decline in annual median prices and sales counts, with stock levels returning to normal levels. Continue →
Commercial
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Colliers’ latest vacancy survey results conducted across the major Australasian office and industrial markets show that trends are broadly aligned, though there are variations in performance across localities and sectors Strongly underpinned by government occupation and bolstered by demand for higher quality office space from the corporate sector, latest survey results show Wellington’s CBD to be the strongest performing of Australasia’s major office markets. Continue →
Property Trends
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A quarter of landlords put up rents in the six months before May 2022, and one of the big reasons for this was increased costs lumped on by the Government, a survey commissioned by the Ministry of Housing and Urban Development finds As a result of Government policy changes in 2021, landlords are no longer being able to claim their full interest costs as an expense.  Continue →
Materials
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The first solar passive house in the world featuring 3D printed concrete walls is opening its metaphorical doors next week to the public for the first time The Huia house, built by Craft Homes and designed by architect Duncan Firth has extended an invite to architects, builders and the wider public to register to visit their first ‘mid-build open home’ in Auckland to see the mastery behind the impressive structure from 3pm – 5pm, Friday 3 March 2023. Continue →
Property Trends
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More people are losing money on the resale of their properties than any time in the past three years, especially those selling apartments, CoreLogic NZ’s Chief Property Economist Kelvin Davidson says The CoreLogic NZ Q4 Pain & Gain report shows 4% of property sold in the final three months of last year went for a price less than originally paid. Continue →
Property Trends
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House prices are continuing to ease as we enter 2023, though the pace of the decline is steadying and the market has glimpses of a new life, REINZ’s January data indicates “January is traditionally a slower month as sellers and buyers are on holiday,” REINZ Chief Executive, Jen Baird says. Continue →
Property Trends
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With weaker property market conditions and an increasing number of hurdles, CoreLogic NZ Chief Property Economist Kelvin Davidson shares his thoughts on the likelihood of property investors jumping back in It’s tough to get the sums to stack up at present Given 40% deposits (unless buying a new-build), low gross rental yields, higher mortgage rates (not to mention tough serviceability tests), increased compliance costs, removal of interest deductibility, and flattening rents, there are several key challenges for a would-be new investor. Continue →
Property Trends
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New Zealand’s housing market downturn continues to roll on, with CoreLogic recording a 0.3% fall in January, the 10th consecutive month of decline Residential property values are 7.2% lower than a year ago, the biggest 12-month decline since May 2009 (-7.9%), although still smaller than the ‘worst’ of the GFC when prices fell 9.7% in the year to March 2009. Continue →
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