According to the Property Wire website, new building consents in New Zealand have increased to the country’s highest rate for nine years. Building and Housing Minister Nick Smith highlighted increasing housing supply in Auckland and Christchurch, with a national total of over 25,000 new consents annually.
According to the figures, there were 756 new building consents for Auckland in March, and 7,940 building consents in the year to March 2015 – the highest since 2006. The latest annual figure of 25,038 compares to the low of 13,236 following the global financial crisis. In the minister’s view, this shows that the Government's range of measures to increase housing supply is working.
Smith p…
I was a little baffled the other day when I read on the Unconditional website’s New Zealand Property Report that according to the latest data from Realestate.co.nz, Aucklanders are significantly more interested in properties outside their region compared to the same time last year.
Baffled because this seems more like common sense than news. Why buy in Auckland when value is to be found elsewhere?
According to Brendon Skipper, CEO of Realestate.co.nz, “The number of people from Auckland looking at properties in other parts of the country has increased significantly over the year from last May. This is a dramatic change in online searching behaviour, which could well be driven by record hig…
[Image: Better rental yields likely to be found in south and outskirts]
New data from Barfoot & Thompson indicates that average rental yields in Auckland have fallen significantly over the past two years.
Although average weekly rental prices are growing steadily, they’re not keeping pace with Auckland’s super-charged sale prices. Barfoot & Thompson’s April rental data is telling us that as Auckland’s house prices continue to march upwards, the city’s average gross yields are going the other way.
According to the figures, although the average price of a three-bedroom property has increased by 30 percent over the last two years, the average gross yield has decreased by 16 percent. …
