Landlords stories
New Zealand small businesses have shown impressive resilience and creativity in the face of adversity during the pandemic, says Vodafone's Paul Bertenshaw.
Investor borrowing has already been curbed, as new housing rules begin to slow sales and cool the market further in 2021.
Investors in Manawatu/Wanganui saw 25.3% capital gains and 4.0% yields, making it the country’s standout residential market.
Landlords may avoid selling despite new tax rules, as CoreLogic says capital gains and Brightline liabilities outweigh the extra borrowing costs.
Investor demand is set to ease as tax changes and tighter lending curbs threaten to cool the market, though prices are still rising fast.
The package aims to boost supply and help first-home buyers, but experts warn it may not curb soaring prices or fix shortages quickly.
Home buyers could gain from easier grants, while investors face a tougher tax regime and rents may rise as a result.
Sales surged 14.6% year on year in February as buyers rushed to secure homes before loan-to-value restrictions returned in March.
Homeowners could void insurance and face unsafe repairs if they hire unlicensed plumbers, after a tradesman was fined NZD $6,000 in Auckland.
Average household incomes rose just 1.3% last quarter, leaving New Zealand house prices at their least affordable level since records began in 2004.
A shortage of homes for sale is fuelling record house prices and leaving buyers with fewer options, despite the busiest November in 13 years.
House prices in major cities have held firm through the downturn, though UBS warns falling rents and weaker incomes could trigger a correction.
Auckland’s central city is set to benefit from the $5b City Rail Link, with property values, investment and demand for quality offices holding up.
Record house prices and strong sales are fuelling doubts over Treasury’s forecast of a 5% fall by June next year.
Auckland landlords and developers now face slower office demand and delayed projects as COVID-19 and recession fears cloud the recovery.
Footfall at co-working centres plunged as lockdowns slashed use, even though flexible offices are expected to regain ground after the pandemic.
Rents are falling in Queenstown and other pockets, but most areas are still posting gains as the recession deepens and job losses loom.
Auckland and Dunedin buyers are skewing towards mortgaged investors, as July's share hit a four-year high despite fresh Covid-19 uncertainty.
Tenants will gain stronger eviction protections and annual rent caps, but landlords warn the new law could shrink supply and lift rents.
Property values have already slipped nationwide, with tourism-dependent centres like Queenstown hardest hit as the recession starts to bite.
