Price rises on the horizon at retirement villages

Prices for units in retirement villages are likely to rise modestly this year following the surge in house prices in the past 12 months.

Prices did not rise much in 2020 but rose in January and February and then flattened in March and April, at a couple of the big village operators, a Forsyth Barr report authored by Aaron Ibbotson and Matt Montgomerie showed.

Revealed: Inside the boom – where the new homes are being built

Auckland is in the middle of a building boom with more than 17,000 new homes completed across the city in the past two years, exclusive new data has revealed.

Hobsonville, in the city’s north west, had the most building activity as its 1795 completed builds since the start of 2019, included 944 new houses, 618 townhouses and flats and 233 new apartments.

Christchurch home values still rising, but market show signs of slowing

Property analyst CoreLogic says the average home value in the city in April was $594,000 – 15.1 per cent higher than a year ago. It recorded a 6.9 per cent increase in values during the three months from the start of February to the end of April.

CoreLogic’s head of research, Nick Goodall, said 27 per cent of those buying Christchurch homes so far this year were investors with mortgages.

Dunedin: strong market, high demand

Dunedin has experienced a meteoric rise in house prices over recent years but remains a more affordable option than many North Island centres.

In common with markets around the country, Dunedin has seen rapid strong price growth in the wake of last year’s lockdowns.

CoreLogic’s latest data shows its average property value was up by 15.4 per cent over the year to March, at $620,990. That’s an increase of $82,965 on the same time last year.

Breakthough in boundary battle

The Canterbury nurse has finally had a breakthrough in a dispute after her neighbour’s builder mistakenly built a house across her boundary.

The error, made despite Selwyn District Council consent and inspections, meant McDonald’s new house could not be built on her Lincoln section as it would be too close to the one next door.

New-build delay pushes family to brink of financial ruin

Maggie Law’s 2-year old son peeps a smile out from under her arm.

His future seems secure as they sit comfortable in the lounge of their newly-built Bucklands Beach dream home in Auckland’s east – but Law isn’t smiling.

She said a dispute with their builder had delayed their home’s final inspection approval by close to a year and pushed them to the brink of financial ruin.

Record prices paid for properties

Waipā recorded a 21.4 per cent increase in its median price range, moving from $660,000 in March 2020, to $801,000 in March 2021.

Hamilton also had a record month for median prices, moving from $620,000 to $780,000, a 25.8 per cent increase for the same period.

The overall median property price for the Waikato region was $730,000, a 22.7 per cent annual increase.