Real estate stories
House prices and sales could weaken in September unless the Government extends mortgage deferrals as the wage subsidy ends and election looms.
The milestone could help ease housing and emissions pressures, as the one-piece build cut material, time and budget by about 60 per cent.
House prices and sales have climbed to four-year highs in New Zealand, despite earlier fears of a post-COVID downturn.
Property values have already slipped nationwide, with tourism-dependent centres like Queenstown hardest hit as the recession starts to bite.
Sales momentum remains firm in Auckland, with first-home buyers and investors still active despite claims the city has tipped into a buyers’ market.
Lower deposit rules and weak bank returns are drawing small investors into housing, helping keep prices elevated across New Zealand.
Smaller homes may offer investors better returns as weaker price growth puts rental yield back in focus amid uncertainty, CoreLogic says.
The project will add 236 homes for older people and free up five hectares for future Government housing across Avondale and Blockhouse Bay.
Property sales jumped in May as lockdown eased, but volumes remained 46.6% below a year earlier and days to sell hit record highs.
Affordable townhouse projects in Auckland will get a lift as the non-bank lender commits GBP £75 million to new residential developments.
Landlords and retailers say the dispute process risks dragging out rent talks, despite most tenants and owners already reaching deals.
Auckland’s housing market has held up, with prices little changed after lockdown despite sales volumes halving in May.
Lower deposits and record-low borrowing costs are giving first-home buyers their strongest opening in more than a decade this winter.
The 361-hectare South Auckland project could add USD $2.3 billion to the economy and house 2,000 people by 2027.
With mortgage rules easing, the Government is being urged to soften New Zealand's foreign buyer ban to help revive property sales and investment.
New Zealand house prices climbed to a record high in April even as lockdown froze the market and sales volumes plunged 78.5%.
Buyers in Auckland’s Belmont are being offered sustainably built terraced homes with electric bikes as New Zealand eases property viewing restrictions.
Queenstown looks most exposed, with tourism reliance and Airbnb saturation making its property market vulnerable to a COVID-19 downturn.
New Zealand commercial rents and capital values are expected to keep falling as occupiers and investors stay cautious amid coronavirus uncertainty.
Easing loan-to-value rules is only part of the fix, with commercial landlords warning wider support is needed to prevent a deeper downturn.
