Real estate stories
Affordable townhouse projects in Auckland will get a lift as the non-bank lender commits GBP £75 million to new residential developments.
Landlords and retailers say the dispute process risks dragging out rent talks, despite most tenants and owners already reaching deals.
Auckland’s housing market has held up, with prices little changed after lockdown despite sales volumes halving in May.
Lower deposits and record-low borrowing costs are giving first-home buyers their strongest opening in more than a decade this winter.
The 361-hectare South Auckland project could add USD $2.3 billion to the economy and house 2,000 people by 2027.
With mortgage rules easing, the Government is being urged to soften New Zealand's foreign buyer ban to help revive property sales and investment.
New Zealand house prices climbed to a record high in April even as lockdown froze the market and sales volumes plunged 78.5%.
Buyers in Auckland’s Belmont are being offered sustainably built terraced homes with electric bikes as New Zealand eases property viewing restrictions.
Queenstown looks most exposed, with tourism reliance and Airbnb saturation making its property market vulnerable to a COVID-19 downturn.
New Zealand commercial rents and capital values are expected to keep falling as occupiers and investors stay cautious amid coronavirus uncertainty.
Easing loan-to-value rules is only part of the fix, with commercial landlords warning wider support is needed to prevent a deeper downturn.
Landlords face stricter eviction rules during the lockdown, as tenants must be 60 days in arrears before Tribunal action can begin.
First-home buyers could face lower deposit hurdles as the Reserve Bank weighs scrapping mortgage loan-to-value rules for a year.
Transaction volumes are expected to fall sharply after lockdown, with weaker demand and limited listings likely to push prices lower.
Hundreds of millions in rent and project revenue are at risk as New Zealand's commercial property sector warns of wider economic damage.
Lockdown has forced Invercargill Central to push back its planned opening, complicating talks with Farmers and bank financing for the project.
New Zealand property owners are being urged to avoid panic decisions, as low rates and support measures may help cushion the lockdown fallout.
Online property searches have surged as lockdown restrictions curb listings, while average asking prices in March still rose 5% year on year.
Bond markets and prolonged virus disruption could strain weaker firms, with airlines, shipping and non-food retail facing the biggest risk.
Commercial landlords could face rent relief claims as lockdowns trigger emergency no access clauses in many New Zealand leases.
