MARTA STEEMAN Last updated 17:24, September 20 2018 Christchurch's commercial property market shows sustained growth, a report by real estate firm CBRE says. SUPPLIED Christchurch six monthly total investment sales value for commercial property buildings worth $5 million and over, according to real estate firm CBRE In the first six month of 2018 11 properties, of $5 million and above, have changed ownership, totalling $204m of sales.That's better than last year with 13 sales worth $172m in the first half of 2017. CBRE said sales showed a clear upward trend since 2013.READ MORE:Trophy office building in Victoria StreetChristchurch developer Richard Diver sells up multi-million dollar Victoria Street buildings.Office building sales have soared to a record $2.7 billion, with most in Auckland.Managing director for CBRE in Christchurch, Tim Rookes, said the number of transactions in 2018 highlighted confidence in the local … [Read more...] about Christchurch’s commercial property market shows sustained growth, agents say
Auckland property market
Todd Niall 15:52, August 26 2018 OPINION: Should we be allowed to know how the state-owned enterprise QV produced an unprecedented "fail" in the statutory revaluation of Auckland properties? Not according to the Minister of State Owned Enterprises, Winston Peters. Peters has declined a request from Stuff for information relating to QV's failure, which has left thousands of Auckland ratepayers unsure whether their rates bills are correct. The information was "commercially sensitive", Peters said. "In making my decision, I have considered the public interest considerations in section 9 (1) of the Official Information Act." READ MORE:Auckland Council and QV in stoush, thousands of property rates valuations affectedHomes still not being built as fast as they were pre-crisisOfficial figures show 45,000 home shortfall in Auckland Official Information Act requests are often declined in full or in part, but the background to the QV case makes this decision questionable. … [Read more...] about Why won’t the Government release details on QV’s Auckland property revaluation fail?
Humble Kawerau, sitting close to thermal springs and the tourist delights of Rotorua and the Bay of Plenty, has emerged as New Zealand's best performing property market. Home values in the small town of 6800 people jumped more than 25 per cent over the past year to a median price of $230,500, CoreLogic reports. This was highest jump in the country ahead of Wairarapa town Featherston and Invercargill suburb Clifton, where home values both rose more than 20 per cent. Parau and neighbouring Laingholm in Auckland's rural south-west were the two worst performing markets with home values falling more than five per cent. The wider Auckland and Christchurch regions were home to all 10 of the country's worst performing markets. Long-time Kawerau mayor Malcolm Campbell says the burst of activity in the town's housing market was a breath of fresh air. Retirees from Auckland and Tauranga had been moving into town recently, drawn by the affordable prices, while tourism was growing and two major … [Read more...] about The humble town with NZ’s hottest property market
New property listings throughout Otago mirrored the national trend by a decline in numbers, but asking prices continued to rise, as those in Central Otago, Queenstown and the rest of Otago were up more than 3% in June. Analysts are picking regional prices will continue to tick over, despite some main centre declines. New property listings for June fell in 15 of 19 regions around the country, a 9.9% decline on June last year, and the national asking price was down almost 4% at $646,231. In May, separate Quotable Value data found the national average house value was up 1% on a year ago, at $678,000, but in June it slipped to $675,680. Nationally, in June, there were a total 8136 new property listings. Otago listings were down 8.4% to 240 and Central Otago, Queenstown Lakes listings were down 2.3%, at 168, according to the Real Estate Institute's realestate.co.nz data. While new residential Otago listings declined, the average asking price rose 3.4% to $395,337 and Central Otago, … [Read more...] about Property market tightened further in June
JACKSON THOMAS 19:53, May 29 2018 Millionaire brothers and richlisters John and Michael Chow are looking to cash in on what they see as a booming Auckland property market. Best known for their many strip clubs and brothels, property now makes up 90 per cent of the pair's core business. In 2016, they purchased collapsed Christchurch house building giant Stonewood Homes. They will open a new West Auckland franchise in June and have two more planned for north of the city thereafter. READ MORE:Three hotel developments on the cards for Chow brothersNational Portrait: the Chow brothersEarthquake forces Chow brothers to change hotel plan "We are on a mission to provide high-quality housing throughout Auckland," John Chow said. Advertisement "House prices seem to be stabilising across the region which gives us a great opportunity to tap into a market of buyers who want quality housing at a reasonable price." According to Homes.co.nz data, the median Auckland house price was holding … [Read more...] about Brothel owners the Chow brothers say Auckland housing market ‘still packs a punch’