Auckland home shortage bites hard

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.

Bold plan needed to solve Auckland housing crisis

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

Ticking time bomb of interest-only home loans

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.

Standards for P tests needed and solar panel owners are penalized

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.

Auckland’s median price for a home now $820,000

The University of Auckland is selling its Tamaki Campus to property investment company Tamaki Village.
There’s already chatter the 11.9ha plot in Glen Innes could be used for hundreds of much-needed homes close to public transport and rail links.

Building consents in Auckland not keeping up with demand

Strong construction activity continues to boost the regional economic outlook especially in Auckland and Canterbury, say economists at Westpac. They report that building consent data for February, released on 30 March, confirms that Auckland is cranking up production of housing, currently up 23 per cent year-on-year.