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John Darroch, NHV Director, recognised for excellence and innovation

John Darroch, NHV Director, recognised for excellence and innovation

Congratulations John Darroch, Director of North Harbour Valuers, seen here (on right) at the Property Council's Annual Auckland Property People Awards held on 27 October. We are proud to say that John won the JLL Property Professional Award. Well done John and thank you to Property Council NZ's Auckland Branch for recognising John's excellence in leadership and innovation in the Auckland property industry.
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NZ Herald editorial: Valuations create new anxiety for ratepayers

NZ Herald editorial: Valuations create new anxiety for ratepayers

Many Aucklanders face a nervous wait in the next few weeks to find what the council thinks their houses are worth. Some will want the highest valuation they can get, particularly if they plan to sell up. Although many properties go for sums far exceeding their rating valuation or RV (also known as a council valuation or CV), a higher valuation will help sellers get the best price possible. It's a different story for people who have no plans to put their home on the market, whose concerns shift to how much their rates may go up under the system. Read more... http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11933685
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How to solve Auckland’s housing crisis: New report out

How to solve Auckland’s housing crisis: New report out

A target of 14,000 new Auckland houses built a year, banning foreign buyers from buying existing places and tackling the construction sector duopoly are ideas put forward to solve the city's housing crisis. Auckland Housing Summit organising committee chairwoman Leonie Freeman, said 130 people came up with solutions when the committee met last month. It has now issued its report. In a recommendation that follows Australia's foreign investment regime, the report mooted "investigating changes to foreign ownership rules so foreign investors can only buy new homes". In a section on housing delivery barriers, it cited "monopoly/duopoly on supply chain of materials", along with skilled labour, difficulties retaining skilled tradespeople, insufficient building scale and lack of private/public partnerships.  Read more... http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11917155
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Housing market has slowed dramatically

Housing market has slowed dramatically

The last two months have seen a significant slowdown in the property market, across the country. Yes, we are now experiencing the chill of winter, but this is more than just that. The first evidence comes from our measure of buyer demand. There was a surge in activity during late February and early March, which is normal for that time of year, and usually carries through until Easter. However, this year, the demand started to dive three weeks before Easter. With Easter and Anzac falling on consecutive weekends we expected activity to drop over those two weeks. And, indeed it did. But since then, demand hasn't rebounded as much as normal. Year-on-year demand is much lower in Auckland and across the rest of the country is more or less flat.…
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The housing crisis is still not getting better and here’s why

When you crunch the numbers on Auckland’s housing crisis, the result is clear: we’re still going backwards. So why aren’t we changing our approach? Leonie Freeman thinks she has a solution. Even before we dial up the numbers, it’s clear we are in an uncomfortable space. Changing policies, high level cluelessness, a demand-supply failure and a radical disconnect between the public and private sectors have all contributed to what is now widely acknowledged as a crisis for Auckland housing. The extent of the media coverage alone reinforces the fact that this is Auckland’s Public Enemy Number One – and it looks like being the Number One Election issue come September 23. Going beyond impressions and scraps of information, what do the hard numbers tell us? How many houses are we…
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Revealed: Where Govt’s houses will be built in Auckland

Revealed: Where Govt’s houses will be built in Auckland

Mt Roskill, Papakura, New Lynn and Glen Innes will be the biggest beneficiaries of a major Government-run building programme announced this week. These suburbs are set to get hundreds of new houses, many sold at affordable rates, by 2020. And in an apparent first, non-resident buyers will be blocked from buying properties in some of the affordably-priced developments. Meanwhile, South Auckland suburbs will see a lift in state houses, with plans to build more than 200 more Housing New Zealand properties in Mangere and Manurewa. Figures provided to the Herald show the Government plans to complete construction of 9000 houses in the first three years of its 10-year programme. Of that total, 4600 will be sold on the open market. It was initially thought that 20 per cent of them…
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Government announces plans to build 34,000 homes in Auckland

Government announces plans to build 34,000 homes in Auckland

The Government is promising to build 34,000 homes in Auckland over 10 years. Of that, 13,500 will be social housing and 20,600 will be sold on the open market, some priced at "affordable" levels. Social Housing Minister Amy Adams revealed the plans in a pre-Budget announcement in Auckland today. Adams said 8300 rundown houses on Crown land would be replaced with 34,000 new homes. Some of these houses were part of already-announced building projects in Tamaki and Hobsonville. The houses would be for New Zealand's most vulnerable families, first-home buyers, and for the wider market. They would be built in areas like Northcote, Hobsonville and in Tamaki. Housing New Zealand would be responsible for building 24,300 of them.  Read more... http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=11857003
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Massive claim made for Maori foreshore and seabed rights

Massive claim made for Maori foreshore and seabed rights

A massive claim for customary rights of New Zealand's foreshore and sea beds has been lodged in the High Court at Rotorua by a local iwi leader. The application by New Zealand Maori Council co-chairman Maanu Paul - made on behalf of all Maori - wants recognition of customary marine title and protected customary rights over the New Zealand coast and the entire foreshore and territorial waters of New Zealand. "Our position is quite simple, the government has been in charge since 1840. They've made a mess of the water, they've made a mess of the environment, our clean green image is about to be destroyed and we're saying we've had a guts full of this poor management," he said. Under the Marine and Coastal Area Act 2011 claims had…
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Brian Rudman: House building targets remain elusive as ever

Brian Rudman: House building targets remain elusive as ever

Nothing quite underlines the Government's on-going failure to solve Auckland's housing crisis as the latest Auckland Council figures admitting that only 7200 new houses were completed in 2016. This is only half the 14,000 needed just to cope with annual population growth, let alone reduce the estimated 35,000 shortfall build up over recent years. This is also well short of the 9500 new houses a year, Housing Minister Nick Smith, was claiming credit for this time last year, in a Budget press release. Yesterday's desperate catch-up attempt by Social Housing Minister Amy Adams is a welcome gesture, but her grandly titled Crown Building Project will in effect only add 2,600 houses a year for the next ten, which is an underwhelming response to a full blown calamity. And given this…
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New Zealand housing market overvalued, could go bust, says Goldman Sachs

New Zealand housing market overvalued, could go bust, says Goldman Sachs

New Zealand's housing market has a 40 per cent chance of going bust in the next two years, according to global investment bank Goldman Sachs. In a research note published this week Goldman says the New Zealand's housing market is the most over-valued amongst the G-10 group of developed economies, Bloomberg reports. Goldman, Bloomberg said, defines bust as house prices falling five percent or more after adjustment for inflation. Bloomberg reports that Goldman looked at housing markets in the G-10 countries -those with the 10 most-traded currencies in the world - and finds they are most elevated in small, open economies such as New Zealand, where house prices have rocketed in recent years. http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11857022
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