POLITICAL & REGULATORY REPORT for June 2009

HOME OWNERSHIP – Govt policy During the month the Minister of Housing Phil Heatley announced that State house tenants would have the option to buy the house they are living in from Housing New Zealand Corporation from mid September. This is a fulfilment of the National Government’s election promise.
30-06-2009 more >>

Building approvals climb again, helped by rates

New Zealand home building approvals rose for a second month, spurred by consents for apartments, stoking optimism the central bank's policy of record-low interest rates and a pick-up in net migration is reviving demand in the property market.
30-06-2009 more >>

Property slump hits small-time investors

Buy-to-let landlords who invested in "cheap" areas are at the sharp end of a housing slump which has seen a record number of mortgagee sales.
30-06-2009 more >>

Unit Titles Bill makes management easier

The Unit Titles Bill currently before Parliament's Social Services committee will make setting up unit title developments easier and more flexible.
30-06-2009 more >>

Immigrants not all good news for market

The accidental landlord syndrome is being perpetuated by immigrants unable to sell their properties back home.
25-06-2009 more >>

Housing set to prosper on strong migration

The housing market will continue to prosper after net migration increased to its strongest rate in nearly six years last month, as migrants stoke demand for new property.
23-06-2009 more >>

Auckland house prices hammered in new survey

The Nelson suburb of Stoke survived the housing slump in the strongest shape - while Central Auckland copped the heaviest hammering.
21-06-2009 more >>

Banks back insulation scheme

All main trading banks have agreed to join the government's insulation and heating scheme, and have agreed to waive fees for top-up loans home owners get as part of insulation retrofits.
19-06-2009 more >>

No magic bullet for sunset dates

Delayed settlements can be a risky strategy for property investors, with no magic bullet clause purchasers can insert into the agreement that will protect them.
18-06-2009 more >>

Deposit rates delaying property price recovery

A recovery in property prices will be delayed by rising deposit rates as they put pressure on long-term lending costs, according to the ANZ National Bank.
18-06-2009 more >>

Migration underpins lift in property, outlook still unclear, ANZ

ANZ National Bank’s eight gauges of the housing market found property was underpinned by strong net migration, but the outlook was still hazy with the correction “yet to fully pan out.”
16-06-2009 more >>

Outlook brighter on house price fall

The Reserve Bank has revised downward a prediction median house prices will fall up to 20 per cent in the recession, though sales volumes appear to be falling.
12-06-2009 more >>

RBNZ keeps key rate at 2.5% amid signs of stabilisation

Reserve Bank of New Zealand Governor Alan Bollard held the official cash rate at 2.5%, pointing to signs of stabilisation in global economic activity and resilience in the domestic economy.
11-06-2009 more >>

REINZ residential highlights - May 2009

May figures from the Real Estate Institute of New Zealand (REINZ) show prices have fallen slightly across the country, but volumes remain steady. Find out how your region is doing.
11-06-2009 more >>

Prices slip, volumes hold in May: REINZ

New Zealand residential property prices slipped in May, after three straight monthly gains, while the volume of sales held up in a market suffering from "an acute shortage of houses," according to the Real Estate Institute (REINZ).
11-06-2009 more >>

Criminalising not helpful, says tenancy group

Tenancy groups are concerned over the proposed changes to the Residential Tenancies Amendment (RTA) Bill, saying they should encourage good practice rather than trying to bring fines and charges against tenants.
09-06-2009 more >>

Building work falls less than expected

New Zealand's total building work fell by a smaller-than-expected 0.7% in the first quarter, though the decline is set to accelerate in the latest three months following a slump in construction permits.
09-06-2009 more >>

Signs of stability in property market

The property market is showing signs of stabilising, but an industry expert says the latest QV statistics are merely a "blip" and the market will continue to slide.
08-06-2009 more >>

Property prices stabilise with cheaper lending rates: QV

New Zealand property values continued to stabilise in May with cheaper mortgage rates making housing more affordable, after a rough year in 2008.
08-06-2009 more >>

QV regional highlights - May 2009

The latest figures from Quotable Value reflect the pick-up in the housing market, with property values improving across the country.
08-06-2009 more >>

Property market picks up after "abysmal" 2008

The property market extended its gains this year, with May's monthly sales continuing to improve after an "abysmal" year in 2008.
05-06-2009 more >>

National says no to capital gains tax

A capital gains tax on property investment is definitely not on the Government's agenda, says Housing Minister Phil Heatley.
05-06-2009 more >>

Loopholes removed from NAP law

The amended No Asset Procedure (NAP) bill, which reforms the 2006 Insolvency Act, will make it easier for landlords to make better-informed decisions on tenants and who to let their rental properties to.
05-06-2009 more >>

Auckland housing demand picks up

Housing demand in Auckland continued to revive last month, with real estate firm Barfoot & Thompson (B&T) reporting its best month of trading in two years.
04-06-2009 more >>

Labour heads to Select Committee over RTA bill

They wrote it, they support it, but after the National Party introduced The Residential Tenancies Amendment Bill to Parliament, the Labour Party says it still needs changes.
02-06-2009 more >>