Real estate stories
Forbury expands into UK market, opens London office and appoints new employees for local customer and business support.
The bill could unlock up to 105,500 extra homes in major cities by letting most sites add three storeys without resource consents.
Property values rose 1.4% nationally in September, but activity is easing as tighter lending and higher rates weigh on buyers.
Higher mortgage costs are unlikely to deter first-time buyers while rents keep climbing and remain above many monthly loan repayments.
Property groups warn the proposal could let well-funded firms seek cuts, leaving the most vulnerable tenants with less support.
Tenants could face higher rents and fewer homes as landlords lose interest deductibility from Friday, industry figures warn.
Property values have surged nationwide, leaving first-home buyers facing tougher affordability as almost every New Zealand suburb gained at least 10%.
Housing pressure is driving New Zealand's first large-scale build-to-rent scheme, with 295 apartments planned for Sylvia Park in Auckland.
A further NZD $150m in funding will help Auckland developers meet surging demand, with some homes already sold off-plan to waiting buyers.
Lockdown has not cooled demand, with New Zealand house prices hitting another record as spring listings are delayed and buyers stay active.
Westland is the country's most affordable area, with house prices at just 3.2 times income and rent and deposits well below national norms.
Property deals are being slowed by fresh restrictions, but Colliers expects demand to recover quickly once alert levels ease.
Affordability pressures are starting to bite, with Hamilton and Rotorua both posting quarterly falls after a rapid run-up in values.
Online property traffic is staying strong during New Zealand's Level 4 lockdown, as buyers browse listings and sellers turn to virtual appraisals.
Nearly all New Zealand homes sold for a profit in the June quarter, as record-low mortgage rates and tight listings drove gains.
Borrowers face higher repayments and tighter credit as rate rises, though lockdown likely postpones the Reserve Bank’s next move.
Record prices are still climbing, but a drop in sales and inventories suggests winter may not be the only reason for the slowdown.
The franchise’s headquarters will move to Manawatu after Tim Kearins bought Derryn Mayne’s 25% stake in Century 21 New Zealand.
Borrowers face tighter lending rules as the Reserve Bank moves to curb risky loans amid house values rising 1.8% in July.
The sector now employs nearly 200,000 people and accounts for 15% of New Zealand’s GDP, according to new industry analysis.
