NBR Property

Birnie loses 'media tyranny' confidentiality but gets two hours to appeal

ck Anderson — Fri, 19 Mar 2010 13:00:02 +1300

Buyers vie for Pakatoa Island

zial Crossley — Fri, 19 Mar 2010 12:19:41 +1300

Court upholds payment of disputed Taupo millions

ck Anderson — Fri, 19 Mar 2010 07:51:49 +1300

Time for property investors to shape up or ship out

Thu, 18 Mar 2010 07:53:03 +1300

Gagging order prevents Bill Birnie secrets being aired, for now

ncan Bridgeman — Wed, 17 Mar 2010 14:50:37 +1300

Andrew Krukziener didn’t save $803.25 – he saved $1755

ck Anderson — Wed, 17 Mar 2010 07:53:59 +1300

GST audit stalls Matauri Bay Properties liquidation

ck Anderson — Mon, 15 Mar 2010 08:12:32 +1300

Andrew Krukziener saves $803.25

ck Anderson — Fri, 12 Mar 2010 14:35:52 +1300

Residential property sales nearer to normal: REINZ

PA — Fri, 12 Mar 2010 12:04:12 +1300

Residential property sales last month were closer to levels from a year earlier after reaching their lowest level in nearly two decades in January, while the February nationwide median price remained steady, Real Estate Institute of New Zealand (REINZ) figure show.

The February total of 5029 dwellings sold was well up on the January figure of 3666, but a little down from the 5228 sales in February 2009.

The median sales price of $350,000 last month was the same as in January, and up from $330,000 a year earlier, figures published today show.

Revealed: Auckland under the super city

zial Crossley — Thu, 11 Mar 2010 11:57:30 +1300

At a Local Government Commission presentation this morning, media were told how Auckland will be carved up once the super city comes into force.

It will be divided in to 13 different wards, with 21 local boards.

CENTRAL AUCKLAND

Orakei on its own
Orakei residents bombarded authorities with submissions, the most received from any area in fact. As they asked for, Remuera residents will be segregated in the supercity boundaries from the poorer area of Otahuhu.

Rents will go up if tax rules changed - investors' claim

PA — Thu, 11 Mar 2010 18:51:21 +1300

Property investors have warned that rents could go up by $34 a week if the government scraps landlords' depreciation claims on housing, but the government says they are wrong.

TVNZ reported the NZ Property Investors Association said landlords would lose on average $1750 a year if they lost the tax rebate and this amounted to $34 a week, which would be passed on to tenants.

Labour MP Trevor Mallard estimated the increase could be as much as $45 across 400,000 households.

ING Medical Properties sells building above value

zial Crossley — Thu, 11 Mar 2010 13:29:34 +1300

Listed ING Medical Properties has sold a Hawkes Bay property for 6% above its June 2009 valuation.

The 100% occupied Central Hawkes Bay Health Centre at Waipukurau was part of the trust’s collection of healthcare buildings nationwide, which have a 99% occupancy rate overall.

The trust earned $4.3 million from the sale, which was 6% above its most recent valuation of $4.05 million. All proceeds will go towards repaying debt.

Going leasehold - the key to a building revival

Wed, 10 Mar 2010 16:20:27 +1300

Prosecuted real estate agent escapes conviction

zial Crossley — Wed, 10 Mar 2010 15:40:45 +1300

Despite breaching the Fair Trading Act for misleading a buyer, real estate agent Tim Whitehead left the High Court without a conviction and remains a licenced agent.

In 2004 Mr Whitehead advertised a Wellington property as seeking enquiries above $380,000 though the vendor wouldn’t consider less than $400,000.

After a lengthy court process in 2007 Mr Whitehead was fined $7500 in the Hastings District Court for three charges of breaching the Fair Trading Act on misleading use of a ‘buyer enquiry over’ price.

Ex-Rich Lister gets more time before bankruptcy hearing

zial Crossley — Wed, 10 Mar 2010 07:35:48 +1300

Rich Listers behind $33m Wellington building buy

zial Crossley — Tue, 09 Mar 2010 15:41:09 +1300

More Henderson companies facing liquidation

ris Hutching — Tue, 09 Mar 2010 15:04:13 +1300

Commercial property players pick tough 2010 for industry

zial Crossley — Mon, 08 Mar 2010 15:34:36 +1300

Residential builders struggling despite reported rises

zial Crossley — Mon, 08 Mar 2010 13:14:42 +1300

Property prices continue to edge up

PA — Mon, 08 Mar 2010 06:40:46 +1300

Residential property prices continued to pull ahead of year ago levels in February, but values in many areas have flattened in the past few months, new figures from QV Valuations show.

Some investors are also thought to be already selling up now rather than waiting for the Government to bring in property tax changes.

According to the QV residential property indices for February, published today, property values last month were 5.5 percent up on a year ago, compared to January's 4.4 percent gain on year earlier figures.

McKenna bankruptcy bid adjourned

ck Anderson — Thu, 04 Mar 2010 12:57:35 +1300

Q & A – Residential Tenancies Amendment Bill

zial Crossley — Thu, 04 Mar 2010 07:45:33 +1300

Pauanui Resort director bankrupted

zial Crossley — Thu, 04 Mar 2010 07:42:07 +1300

Record February house prices in Auckland

PA — Wed, 03 Mar 2010 11:28:12 +1300

Auckland house prices rose to their highest February average on record, while new listings reached a 23-month high at real estate company Barfoot&Thompson.

The $521,323 average last month was up 3.2 percent from January, and up 1.7 percent from February 2009.

Barfoot&Thompson managing director Peter Thompson said the 626 sales last month were high for a February, up 7.4 percent on January and up 12 percent on a year earlier.

Where to from here, 2010 and beyond

Wed, 03 Mar 2010 09:13:43 +1300

Report criticises home insulation programme

PA — Tue, 02 Mar 2010 10:20:09 +1300

The Government's home insulation programme isn't good enough to keep houses in colder parts of the country warm, a new report says.

The Otago University report, obtained by Radio New Zealand, says the standard insulation upgrade is inadequate for houses in the deep south and they should be given special attention.

Energy Minister Gerry Brownlee said the $347 million scheme, which is subsidising insulation upgrades for about 200,000 homes over four years, was the biggest commitment of its kinds by any government.

Les Mills to open Britomart branch

zial Crossley — Tue, 02 Mar 2010 07:55:49 +1300

Gym chain Les Mills has signed a twenty year lease for its new branch at downtown Auckland’s Britomart precinct, due to be open by April next year.

Located at the old Oriental Markets site, the 2000sq m gym will be the chain’s second central city outlet in addition to its flagship Victoria St facilities.

DNZ sells property below value, secretive about other sales

zial Crossley — Tue, 02 Mar 2010 07:44:45 +1300

Kiwi Income preparing for Sylvia Park extension

zial Crossley — Mon, 01 Mar 2010 15:26:33 +1300

Ryman announces new $90m village

zial Crossley — Mon, 01 Mar 2010 14:04:49 +1300

Retirement village company Ryman Healthcare has announced that it will soon be building a new retirement village in Christchurch to house 450 residents.

On an 11ha site, the village will be located at East Ellington Drive.

It will have resort style facilities including a movie theatre, gym, hair and beauty salons, a library and bowling green.

The village will consist of a mix of service apartments, independent townhouses, hospital, dementia care and a resthome.

Record year for forced property sales

PA — Mon, 01 Mar 2010 07:38:48 +1300

The number of forced sales in New Zealand last year reached the highest levels since records began, with an average of more than eight mortgagee sales every day.

The data, released by Terralink International on Saturday, showed there were 3024 registered mortgagee sales during 2009. That compared to 1303 in 2008 and 475 in 2007.

Mike Donald, Terralink managing director, said the phenomenal number of mortgagee sales was a clear indicator of the effect of the global recession on New Zealanders.

Kiwi Income to build ASB new $160m HQ at Wynyard Quarter

zial Crossley — Fri, 26 Feb 2010 16:38:22 +1300

Listed company Kiwi Income Property Trust is going to own and develop ASB Bank’s new headquarters at the Wynyard Quarter precinct on Auckland’s waterfront.

The $160 million development is still in the early stages of design but ASB chief executive Charles Pink said it would include public spaces with seating, a covered courtyard and café. There would also be facilities for meetings and community events, he said.

Soho development debts top $94 million

zial Crossley — Fri, 26 Feb 2010 11:13:19 +1300

The first receivers report for property developer Campbell Layne Kells failed project Soho Square reveals debts of more than $94 million.

At the 1.3ha Auckland site on the corner of Ponsonby Rd and Williamson Ave, Mr Kells planned to build 53 apartments, 35 retails stores, offices and cafes with 1250.

Locals notoriously hated the development, on the site of the former DYC Vinegar plant, holding a mock pool party as a protest in the area dug for a carpark in March.

Billionaire Harcourts China head buys Puhoi estate

zial Crossley — Fri, 26 Feb 2010 15:12:14 +1300

Residential consents fall 2.8%, commercial plummet 39%

zial Crossley — Fri, 26 Feb 2010 12:03:58 +1300

The latest Statistics New Zealand research shows the number of residential buildings issued with consent in January rose, but only by less than 1%, if apartment consents aren’t counted.

If “volatile” apartments are counted, the grim statistics state that the total number of consents issued fell by 2.8%, with 1000 new homes and 42 apartments granted consent.

In December, the number of consents issued fell by 3.9%.

US company in $34m winery acquisitions

ris Hutching — Fri, 26 Feb 2010 11:58:29 +1300

IRD chases Hendo in 85 court actions

ris Hutching — Fri, 26 Feb 2010 08:01:49 +1300

Multi-million subdivision on the way for Waiheke

zial Crossley — Fri, 26 Feb 2010 07:54:01 +1300

Waiheke Island could soon have a new 19-lot subdivision at Thompsons Point if an application for resource consent currently open for submissions is accepted.

A minimum lot size of 25ha applies under the current resource consent regulations for the area where land owner Answer Services (Holdings) has applied to build its subdivision.

But this proposal has a minimum lot size of 1200sq m and a maximum of 1863sq m, which is why it doesn’t comply with the restrictions in place and its resource consent application is open for public submission.

Tower & AMP Capital invest in $15m Bay of Plenty mall expansion

zial Crossley — Thu, 25 Feb 2010 14:12:02 +1300

Taupo’s new 2200 home subdivision moves ahead

zial Crossley — Wed, 24 Feb 2010 12:36:20 +1300

Planning for Taupo’s recently announced 2,200 home new ‘garden suburb’ subdivision is progressing, with a name bestowed on it and industry seminars about it scheduled for next month.

On a 197ha site overlooking Lake Taupo, land owner Taupo District Council plans to build a new master-planned suburb for a “wide range” of lifestyles and types of housing.

The development is now called Tauhara Ridge, in honour of Mt Tauhara which overlooks the area.

What are the property tax loopholes?

Wed, 24 Feb 2010 07:45:53 +1300

DNZ dividend slashed, board 'disappointed' in share price

zial Crossley — Tue, 23 Feb 2010 07:44:27 +1300

IRD bungles bid to liquidate Nigel McKenna companies

zial Crossley — Tue, 23 Feb 2010 07:34:21 +1300

Property for Industry results to reveal sector's resilience

zial Crossley — Mon, 22 Feb 2010 07:12:11 +1300

The Property for Industry full year result due out today is expected to offer an insight into the position of its sector in general, according to Forsyth Barr research analyst Jeremy Simpson.

Its half yearly results last August revealed a $15.7 million loss after tax and unrealised losses.

Then, it was marketing leases in the first stage of its Avondale Peninsula Business Park – details of the success of that are expected later today.

NZ housing market recovery looking unconvincing

PA — Fri, 19 Feb 2010 15:31:27 +1300

The New Zealand residential property market recovery is looking a little unconvincing in a report by Mike Pero Mortgages.

The Mike Pero Mortgages-Infometrics Property Cycle Indicator (PCI) fell slightly to positive 5.23 in January, from 6.67 in December.

"Although the nationwide PCI was still positive in January 2010, the steadying of the housing market has dropped off."

Sales volumes in January were 1.1 percent lower than a year earlier, the first decline in activity since February last year, said Mike Pero Mortgages chief executive Shaun Riley.

McKenna milks Kawarau receivers for $5000 a day

zial Crossley — Fri, 19 Feb 2010 14:22:56 +1300