Northland Property Investors' Association


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Archive: December 2013

Commercial investors feeling confident

Commercial property investor confidence rose in the December quarter and is now higher than it has ever been, Colliers International says.
31-12-2013 more >>

Rise can't continue at this rate: Helm

Property prices are likely to continue to rise in Auckland but will have to come off the boil a bit, says commentator Alistair Helm.
30-12-2013 more >>

Longer due diligence periods better: Whitburn

Auckland Property Investors Association president David Whitburn says he would like to see longer due diligence periods for buyers, after a High Court decision last week that overturned an agent’s charge of negligence.
27-12-2013 more >>

Property market on hold

New Zealand’s property market is stuck in a hiatus, trapped between strong migration and price expectations on one hand and the introduction of LVR restrictions and an impending hike in the official cash rate on the other, ANZ’s economists say.
23-12-2013 more >>

Expect a short pause: Newland

Noise about the prospect of increasing interest rates is unlikely to dampen the property market much next year, says commentator Olly Newland. He said it would be “business as usual” no matter what noises were made by politicians.
20-12-2013 more >>

NZPIF: WOFs not the best approach

Rental property warrants of fitness aren’t necessary, the New Zealand Property Investors Federation says. It was yesterday revealed that a trial of WOFs for rental properties – both private and council-owned – will start across the country in January. Councils said there were concerns that the housing stock was substandard and contributing to poor health.
18-12-2013 more >>

Rentals tested next month

Private rental properties will come under the spotlight in new council “warrant of fitness” testing. From January, 25 rental properties in Auckland, Tauranga, Wellington, Christchurch and Dunedin will be tested against 31 criteria, including things such as warmth, dryness, mould, dampness, injury risk, sanitation, and living needs.
17-12-2013 more >>

First-home buyers still absent: Survey

First-home buyers are still noticeably absent from the market, the latest REINZ/BNZ survey of real estate agents shows. A net 77% of agents are seeing fewer of them in the market.
16-12-2013 more >>

Focus on insulation and heating rentals, not WOF

A University of Otago study by medical students looked at 106 children admitted to Wellington hospital over winter. It found that the main cause for admission, 38%, was due to the effects of inhalation of second hand smoke.Other reasons were dampness (30%), mould (24%) and overcrowding (21%) in the home. The authors say that these findings support the need for a warrant of fitness on rental properties.
14-12-2013 more >>

Auction of the houses in "The Block" TV programme

Last month the latest edition of “The Block” television program ended with the houses that the four contestants renovated being auctioned on the open market.
13-12-2013 more >>

Housing Accords work expanded

Housing Accords work expanded to Christchurch, Wellington and Tauranga The Government’s work with councils to improve housing affordability has been expanded beyond Auckland with Christchurch City, Wellington City, Hutt City, Upper Hutt City, Porirua, Kapiti, Tauranga and Western Bay of Plenty being added to the Housing Accords and Special Housing Areas Act.
12-12-2013 more >>

OCR unchanged at 2.5 percent

The Reserve Bank today left the Official Cash Rate unchanged at 2.5 percent. Reserve Bank Governor Graeme Wheeler said: “Growth remains moderate but mixed for New Zealand’s main trading partners. Nevertheless, export prices for New Zealand’s main commodities, and especially dairy produce, have continued to increase.
12-12-2013 more >>

Sales below expectations: REINZ

Sales turnover in November was weaker than expected, the latest Real Estate Institute figures show. There were 6691 residential sales last month, 6.6% fewer than the same time last year and up just 2.7% on October.
12-12-2013 more >>

Warm houses key to child health.

Children’s Commissioner, Dr Wills, reports today that, over the last 12 years, the biggest increases in child hospitalisations with poverty-related illnesses have been in asthma and bronchiolitis. He has said that living in crowded, cold and damp houses is what matters.
10-12-2013 more >>

New two-tier lending system hits low deposit customers

Mortgage brokers say low deposit borrowers will take another hit, after Westpac introduced a two-tier lending system that will further shut them out of the housing market.
10-12-2013 more >>

Reserve Bank exempts lending for new construction

New residential construction loans will now be exempt from the loan-to-value (LVR) restrictions introduced from 1 October, Reserve Bank Deputy Governor Grant Spencer said today.
10-12-2013 more >>

New homes exempt from LVR rules

A Reserve Bank decision to exempt new construction from the loan-to-value restrictions will be a double benefit, says a broker who has been campaigning for the change.
10-12-2013 more >>

Early signs of market change: QV

It may not be until March that there are any clear signs of where the real estate market is heading under the new loan-to-value restrictions, QV says. It has released its statistics for November, which show that nationwide values have risen 9.2% over the past year and 2.5% over the past three months.
09-12-2013 more >>

Alexander: Too early to claim impact on lending

Home loan approvals have reached a new post-LVR restriction high, but BNZ chief economist Tony Alexander says it’s too soon to conclude that the rules have not slowed lending growth.
06-12-2013 more >>

Bill to ban foreign investors

It would stop anyone who was not a citizen from buying any existing residential property. The bill still must be drawn from the ballot before it will be given a reading in Parliament.
05-12-2013 more >>

More rental properties available in Auckland: Report

Low interest rates may be prompting an increase in the number of rental properties in Auckland, the latest Department of Building and Housing quarterly report says.
05-12-2013 more >>

Barfoot: Rules having no impact yet

Loan-to-value restrictions appear to be slowing the rate of sales under the hammer, Barfoot and Thompson says. The real estate agency says there has been a reduction in the number of homes sold at auction but sales had been occurring later after negotiations between the buyer and seller.
04-12-2013 more >>

Asking prices, listing numbers down.

Asking prices eased slightly in November and the number of new listings entering the market dropped, the latest report from shows.
03-12-2013 more >>

First-timers buy one in five properties

Twenty per cent of properties nationwide have been sold to first-home buyers since 2012, data from PropertyIQ shows.
02-12-2013 more >>

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