Fall in housing consents won’t slow the building boom

“We continue to expect high levels of home building activity over the coming year. Importantly, with the continued closure of the borders, home building is now well above what’s needed to keep up with population growth.”

This would go a long way to reducing the shortages of housing that had developed in recent years, especially as home building was likely to outpace population growth for some time, even when the borders reopened, Ranchhod said.

Property values rebounding for big landlord

Kiwi announced today on the NZX that the value of its portfolio of retail, office and mix-used properties had risen by $100 million, 3.1 per cent in the six months to March 31, 2021, in a draft valuation done for the company ahead of the release of its annual result in May.

The true cost for homeowners buying a fixer upper

Home buyers are offering too much money on houses without realising the true amount it will cost to carry out renovations, a consultant says.

The result is disappointment all round – for the other buyers who missed out on getting a house, and the ones who spent the majority of their budget on one, only to realise the price to bring it up to scratch was well above what they could afford.

First home buyers shelling out $94,000 more to get on property ladder

February was the last month before loan to value restrictions on bank lending were officially back in place although most of the major banks had already bought them back.

From March 1 banks were restricted to a 5 per cent cap on new lending to investors with a deposit under 30 per cent and up to 20 per cent of new lending to owner-occupiers with a deposit under 20 per cent.

Are investors starting to step back from the housing market?

As of March 1, the Reserve Bank’s reintroduced loan-to-value ratios (LVRs) officially came into effect, and investors now need to have a 30 per cent minimum deposit to get a mortgage from a bank.

From April 1, investors would need to have a 40 per cent minimum deposit and the Government is soon expected to announce further measures to address the runaway market.

The key to unlocking Māori freehold land

A kaumātua who spent years lobbying Government agencies for access to his family’s property is now in demand from others looking to unlock the economic potential of Māori freehold land.

The Pokaia Whanau Trust was awarded $305,000 by the Provincial Development Unit to build a bridge across the Oparau River near Kawhia, providing access to land which had been cut off since the 1970s.

Christchurch developers sell out of inner city homes

The Christchurch City Council has a target of 20,000 central city residents by 2028. An estimated 7000 to 8000 people live in the area now.

The Crown-led east frame housing development, an anchor rebuild project, has so far delivered just a fifth of its intended homes.