Tag Archives | Property Investment

RBNZ Wait And See Stance On New Rules

The RBNZ wants to see the sales data for February and March before assessing the effectiveness of their new measures that included the 70% LVR restriction for Auckland investment properties. New lending was at an all time high at $1.679 Billion for the week ending 4 March and the average size of loan set a new record. February property sales were up on the previous three months.

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Unpopular Suburbs Popular With Investors

Investors are making their own luck in the regions and in the least popular suburbs of Auckland. Property values have sky-rocketed pretty much everywhere in Auckland however there are investors still buying properties under market value. They are just not in the popular suburbs and the properties need a bit of work.

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Lifestyle Renters

Renting is a choice for many people who just don’t want the hassles of homeownership and their lifestyle doesn’t suit it. There is a rise in single households too, so owning the kiwi dream of a typical three bed standalone in suburbia is not on their radar now nor any time in the future.

There are professions that require extensive travel and with today’s global economy people are a lot more transient, moving cities, countries at very short notice.

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A Good First Step – New Foreign Buyers Bill

It’s official the Taxation (Land Information and Offshore Persons Information) Bill has been introduced into Parliament. The new law will see Land Information and Inland Revenue share the data collected on offshore residents. It may prove very useful in determining to what degree NZ real estate is used to launder money acquired from criminal activity.

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Tenants Who Are Also Landlords

More New Zealanders are renting today than ever before and they will remain in rented accommodation longer than desired. Their first taste of home ownership is likely to be an investment property which they’ll rent out while they too remain as tenants in another landlord’s property.

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Rental Property Weekly Rent Rate Up

In the last five years the average weekly rent has gone up $70 a week from $340 – to $410. It has also climbed 6.5% from February 2014 to February this year according to Trade Me’s Rent Price Index. While you’d expect larger weekly rent rate increases in the Auckland region they were rather modest at just 5.6% with Wellington at 5% and Canterbury at 7.1%.

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Matthew Gilligan – AKL House Price Inflation Problem

Auckland’s rampant house price inflation is due to a historical net supply problem says Matthew Gilligan of Gilligan Rowe & Associates.

In a recent article on the GRA website Matthew suggests a lot more work needs to be done to improve the consenting process and lower the cost of building materials so the supply of new housing can be sped up.

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