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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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Auckland’s future? 53-apartment proposal for Takapuna

Auckland’s future? 53-apartment proposal for Takapuna

A graphic image of how Auckland streetscapes are changing under the new Unitary plan is provided by one big proposal on the North Shore. In a quiet Takapuna street, filled with single and double-storey homes on full sites, plans have been proposed for two big five-level apartment blocks filling two sites side-by-side. Auckland Council has notified the application to build the blocks at 32 and 34 Tennyson Ave, meaning the public has a chance to voice their opinions. http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11853621 (more…)
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Stand down, Herne Bay: Auckland’s new top-priced suburb

Stand down, Herne Bay: Auckland’s new top-priced suburb

Step aside Herne Bay, says a valuer and real estate agent who has named a perhaps surprising area as Auckland's top-priced suburb. Jason Smale of Premium Real Estate says he has analysed Auckland sales and found that the Coatesville area on Auckland's northern outskirts is by far the city's most expensive area. The green, rolling pastoral area dotted with mansions has an average sale price of $3,319,083, calculated Smale, who says he has sold properties worth $320m. "There are 611 residential properties officially in Coatesville; genuine, true, Coatesville, not Lucas Heights, Riverhead, Albany, Paremoremo or Dairy Flat," Smale said. (more…)
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Second stage of SKHY apartments set to begin

Second stage of SKHY apartments set to begin

Work is due to start later this year on 75 apartments in the second stage of Auckland's SKHY on the fringe of the CBD.  The project is near the intersection of Symonds St and Khyber Pass Rd and its acronym takes its name from the area.  Apartments are being marketed from $595,000 for one-bedroom apartment with a car park up to $1.6 million for a three-bedroom unit with two car parks.  The project was designed by Pip Cheshire of Cheshire Architects, according to a company statement. (more…)
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QV house values: Auckland, Christchurch down, Wellington up

QV house values: Auckland, Christchurch down, Wellington up

House values dropped in parts of Auckland and Christchurch in the past three months, remained static nationally but rose in Wellington.  Data from Quotable Value out today showed Auckland values down -0.4 per cent in the past three months and -2.6 per cent in Christchurch's Banks Peninsula area. Nationally, there was a 0.0 per cent change in house values, QV said.  North Shore coastal values fell -1.3 per cent, North Shore Onewa down -2.3 per cent and Manukau Central down -0.7 per cent.  But the average value across the Wellington region has now topped $600,000, data showed. (more…)
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COVID-19 Update
With Auckland currently in COVID-19 Alert Level 3, NH Valuers are fully operational and able to assist with any valuation needs. We have put in place stringent controls in line with Ministry of Health guidelines

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