News Bites

Rents rise and rise

Rents charged by residential landlords in most parts of Auckland has risen by about 3% year-on-year to hit $616.32 a week, figures to the end of March show.

Beating the long-term average

More than $2.6 billion of commercial property was sold across the country in the second half of last year beating the long-term average.

The next property frontier

Private space tourism took a giant leap forward last year and this has pundits wondering about hotels and other buildings popping up any time soon.

Illegal car removals costs landlord thousands of dollars

A Hamilton tenant who claimed his landlord removed two ‘classic Japanese’ cars from his rented home without his knowledge or permission has been awarded $1500 compensation and $2000 in exemplary damages.

Prices for development land set to skyrocket

Land values are expected to rise even further when councils accelerate housing intensification under the Government’s National Policy Statement on Urban Design (NPS-UD).

CBD retail and recovery chances

CBD retail has been the most tested sector since the onset of the pandemic.

ASB expects an inflation adjusted 20% drop in house prices

The housing market downturn intensified last month. the  REINZ’s House Price Index fell another 1% and annual price growth dropped to 6.3%, down from just over 30% eight months ago.

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