Tag: housing

National Pegs Hopes on Build-to-Rent Policy

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Rent levels in New Zealand have risen substantially according to recent Trade Me Property data. The national median weekly rent rose to $595 in January, up by $25 a week or 4% from last year. This follows the national median having stagnated at $580 in the previous three months. According…

Westpac NZ Records $1.01B Profit as Its Share Value Tanks

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November 1 was a mixed bag of results for Westpac that announced it had made an annual profit of $1.01 billion over the last year ending in September 2021. This profit was a 56% increase on that of the previous year, a margin higher than the 39% increase recorded by…

New Interest Deductibility Rules to Net Government $1B Over Next 4 Years

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The New Zealand government’s proposed changes to interest deductibility rules on residential properties are expected to see it generate an estimated additional revenue of $1 billion over the next four years according to a statement given by Revenue minister, David Parker. The key change that will contribute to the government’s…
housing

Housing Prices Continue To Soar

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Although the number of property sales have decreased, the median price for real estate in New Zealand continues to rise. The Covid-19 pandemic has done little to slow down the New Zealand property market. New Zealand has always had low levels of supply, resulting in fewer properties available to buy.…

Government Tightens Lending Rules To Curb Housing Crisis

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The steep increase in New Zealand property prices has led to a housing crisis. Market figures indicate prices have risen by about 30% over the last year due to record-low interest rates and cheap access to capital thanks to the government’s stimulus spending. With more Kiwis returning home due to…