Real estate prices in new Zealand are dropping, sales turnover has dived, interest rates are going up and discretionary spending is down.
Real estate prices in Auckland have been stagnant since the start of the year says ASB economist Kim Mundy. She writes this week that prices in the SuperCity have “stopped …
The number of apartments listed for sale in June was almost double that of May, says Vanessa Taylor of RealEstate.co.nz. In June, 800 apartments were listed on its website compared to 453 in May.
According to Stats NZ there were more than 33,000 empty homes across Auckland in 2013. Conservatively, these properties could house more than 60,000 people.
Sales are down across the country by almost 15 per cent compared to this time last year, demonstrating Auckland’s cooling property market is spreading, says Chris Kennedy, CEO of Harcourts.
Due to my host being hacked dozens of previous podcast posts have been lost. But here is the most recent one I can lay my hands on from March 2017. …
With summer fast approaching and the real estate market heating up, Diana Clement has some great ideas on how sellers can smarten up their home’s street appeal.
Business and personal finance reporter Diana Clement was stung by insurance company Youi when the firm took more than $500 from her account after she asked for an insurance quote.
This week I chat with journalist Diana Clement about the developing trend of tiny homes. Properties that are just large enough to live in, are cheap to build, easy to maintain and efficient to run.
New Zealand homeowners are too laid back when it comes to written contracts for building work and assume being licensed means builders have a higher standard of training, skills and experience than is currently required under the Licensed Building Practitioner scheme.
While there has been talk of congestion charging for Auckland’s motorists, it seems the idea will not see the light of day for a 10 years, having been put on …
There’s a chill in the air The housing market is expected to cool in the coming months, according to CoreLogic’s Jonno Ingerson — but the chill won’t last. He predicts …
A former member of the Reserve Bank’s Monetary Policy Committee is questioning wide-spread expectations that interest rates will remain low.
The mortgage world is in topsy-turvy territory. It used to be that fixed rate deals cost more than the floating rate (borrowers would pay more for the certainty of knowing …
A third of Aucklanders have considered leaving the city to live elsewhere, according to a survey carried out for The Spinoff and Jennings Murphy by SSI.
As the Reserve Bank races to the bottom by cutting the official cash rate – now at 2 per cent and likely to drop to 1.5 per cent by the year end – I am starting to wonder if this is the best course of action for the country and society.
There were no surprises when Graeme Wheeler, Governor of the Reserve Bank, cut the official cash rate to 2 per cent — yet another historic low for New Zealand.
Prime Minister John Key regularly says that throwing money at problems is not the solution.
Yet at least one of his ministers appears to think differently. Nick Smith who has yet to answer my email seeking assurances to the quality of steel being used in residential properties, has been flashing the cash big time by upping the ante on the HomeStart scheme.
Despite the Government’s “comprehensive plan” to address the housing crisis, economists at the ANZ say there is still a whole host of problems across the housing market. These include the usual suspects of…
Shocking news from the CEO of New Zealand’s ANZ bank David Hisco where he essentially warns of the New Zealand housing bubble bursting.
When I got home the other night I found a note from a real estate agent saying she had buyers for properties in my street.
As any Auckland house-hunter can testify, there are slim pickings at the moment — it’s something I mentioned a few months back when the trend started to emerge. But the shortage of houses for sale has become a lot worse, leaving wannabe buyers starved of choice and at least some real estate agents scratching around for something to sell.
The Property Council has welcomed Labour’s plan to build 100,000 affordable houses over 10 years and sees it as a game-changer in alleviating the housing affordability crisis.
Under the opposition party’s plan, half the homes will be built in Auckland and
For a man who routinely says that throwing money at problems is not the answer, Prime Minister John Key’s $1 billion offer to help solve the country’s housing crisis is a huge U-turn.
Statistics from the Reserve Bank show more people are opting for an interest-only loan when buying a home.
In January, 30 per cent of loans to owner-occupiers were interest-only, but by May it had drifted up to 33 per cent.
An interest-only loan will typically have lower repayments than a principal and interest loan — because repayments only cover the interest. The downside is that payments do not reduce the amount borrowed by a single cent.
When police were alerted to half a tonne of methamphetamine on a beach last week it highlighted the problem New Zealand has with illegal drugs such as P.
It seems the drug is so widespread that anyone seriously contemplating buying a home needs to have it tested for P contamination — even if the property looks pristine.
Westpac led the charge last week by refusing to recognize the overseas income of foreign wanting a home loan.
Is the booming Auckland housing market about to run out of puff? It seems unlikely, but looking at figures released by Barfoot & Thompson one has to wonder.
The Reserve Bank may have been underestimating the number of people moving to New Zealand, and therefore not correctly formulating the effect they are having on housing.
The first hint of a shortage of housing stock in Auckland goes back about five years, when building firms began saying there was a lack of skilled workers in the …
The New Zealand housing market dipped in April with the national median price declining by 1 per cent compared to the month before. New figures released by the Real Estate …