Industry needs to work together to address critical housing shortages – Property Council
The property industry is aiming to develop a long-term plan to address housing issues which transcend the vagaries of three-year political election cycles.
Housing affordability sinks to new low
Housing affordability for first-time buyers reached a new low in October – the lowest point since interest.co.nz’s Home Loan Affordability Report began in 2004. The report measures three indicators of housing affordability for first-time buyers: the average price of a house in the lower quartile, interest rates on mortgages and the average salary of 25–29 […]
New rules to regulate property managers
Property managers will soon need to be registered, trained, and licensed under new rules released by the government. The public will also be consulted on new rules regarding methamphetamine residue levels and if tenancies can be terminated if a property is determined to be unsafe. Housing Minister Megan Woods announced the new rules on Tuesday. […]
Housing development on old Waipukurau hospital site
Up to 950 new houses will be built on a 50-hectare block of land in Waipukurau, Hawke’s Bay. Development of the site, which has been occupied by a disused hospital for over two decades, has been made possible by a grant of $10.9 million from central government. Central Hawke’s Bay Mayor Alex Walker said the […]
Supply of new houses exceeds population growth
The pace of construction of new houses now exceeds the rate of population growth, a recently published report says. Interest.co.nz estimates that New Zealand’s population increase of 12,700 in the last 12 months would have created demand for an additional 4885 new homes. However, it is likely that around 37,000 new homes were completed during […]
Remote-working trend fuelling Taranaki property market
A remote-working trend appears to be behind Taranaki’s rising housing prices. In contrast to most of the country, where house prices are dropping, figures released by CoreLogic this week show that Taranaki’s prices are up more than 10 percent. A real estate agent with Harcourts, Mike Powell, told RNZ News that he noticed the region […]
House prices falling but unemployment remains low
Data released this week show that house prices are continuing to fall and interest rates are rising. However, unemployment remains low. A report released by CoreLogic shows that national house prices fell 1.3 percent in October, following a 1.5 percent drop in September. Rising interest rates could mean that more homeowners face the risk of […]
House prices drop for fifth consecutive month – Trade Me
Property prices in New Zealand have dropped for a fifth consecutive month, newly-published figures from auction site Trade Me suggest. The figures show that the national average asking price fell by 1 percent in August to $899,200. The average asking price had not been below $900,000 since October 2021. The Wellington, Nelson/Tasman, Taranaki and West […]
New Zealand house price growth falls in international rankings
The growth rate of house prices in New Zealand has fallen in comparison to international markets. The Knight Frank Global House Price Index showed that average house prices across 56 countries increased by 10% over the 12 months ending June 2022. However, in New Zealand, prices only increased by 5.5%. Once adjusted for inflation, they […]
$7m Pasifika housing project to begin in Flaxmere
Twelve new social houses will be built on church land in Flaxmere as part of a housing project that will support the Pasifika community. The homes, which will be prefabricated in Hutt Valley and assembled on site, will be made available to people on the public housing waiting list, with a focus on Pasifika families. […]