Home building costs increased by a record 10.4% during the 12 months to December, according to CoreLogic’s Cordell Construction Cost Index. That beats the record set the previous quarter, when residential construction costs rose 9.6% in the year to September 2022. Thankfully, prices are increasing at a decreasing rate – they jumped 3.4% in the…
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The property market is looking a lot more encouraging for first home buyers today than it did this time last year. That’s because prices fell sharply during 2022, reducing the size of the deposit first home buyers need to enter the market. Between January and November 2022, the price of the average property fell 10.2%,…
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New Zealand’s population is projected to grow 0.7% per year between 2018 and 2048, according to Stats NZ. The fastest-growing regions are projected to be Waikato (1.0% per year), Bay of Plenty, Northland (0.9%), Auckland, Canterbury and Tasman (0.8%). During the three decades to 2048, the North Island is projected to contribute 80% of New…
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The government will legislate two key changes to tenancy laws, which it said would improve the lives of both property investors and landlords. First, residential property managers will now have to be registered, trained and licensed, and complaints and disciplinary matters will be dealt with through a new regulatory framework. “This means that like many…
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Spring housing market activity was subdued across Aotearoa New Zealand according to the latest data and insights from the Real Estate Institute of New Zealand (REINZ). Buyers remained hesitant as rising interest rates, access to finance and concerns around the economy continued to create uncertainty in the market. Nationally, the number of residential sales dropped…
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The residential property market has continued its downward trajectory with the latest data showing the worst drop in values in more than 15 years. Based on figures from January to November, values are now 10.2% lower, or $107,747 less in real dollar terms, than at the start of 2022. The average home value now sits…
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Rental property investment can be a lucrative venture when market conditions are favorable. As vacancy rates fluctuate and rental demand shifts, investors and landlords have opportunities to maximize the value of their investments. Rental markets across different regions can vary significantly, with some areas experiencing low vacancy rates and others facing higher competition. These market…
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You don’t have to be Warren Buffet or Elon Musk to think differently or to understand that when the market is all moving one way, maybe there’s an opportunity in the opposite direction. What do I mean by that? It’s my way of telling you that right now could be the best time to buy.…
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If you plan to buy a property in the next few months, you should be scouring the internet for articles and data that will give you insights into the market. Staying on top of real estate articles takes stamina, however, and it’s more efficient to use the services of a broker to give you the…
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Whether you’re a first-time buyer or looking to move up the property ladder, it’s crucial to approach your property search with a well-thought-out strategy. Market conditions can vary, but certain principles remain constant. Here’s my top 5 checklist to keep in mind during your current property search: Stay Informed About Market Conditions Market conditions can…
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