Invercargill business park 'positive' for city economy
Source: stuff.co.nz Several constructions in the business park in Bill Richardson Drive are taking shape, despite winter conditions. A building on the corner of Fox St and Bill Richardson Drive is taking shape and looks to be finished within the next six weeks. Ultraspec Building Systems director Ruary O'Toole said the building was tracking well, despite weather interruptions. The build had been ongoing for about four months and looked to be...
Wed 27th Jul 2016Full post
Has the shine gone off the Auckland property market?
Source: unconditional.co.nz Interest in the Auckland property market has dropped on the back of ever increasing house prices and falling returns for investors. Auckland average asking prices rose again to another all-time high in June to $888,493, but searches on realestate.co.nz for properties in the city has fallen, says CEO Brendon Skipper. “It could be a turning point for Auckland, with prices now at an all-time high they’re almost out of reach for the average income...
Mon 11th Jul 2016Full post
House prices climb $3K a week, rising at fastest rate since 2004
Source: stuff.co.nz The average New Zealand house value is rising by more than $10,000 a month, as investors snap up homes ahead of new lending restrictions. The latest QV research shows the average house price now sits at $590,909, while the average house price in Auckland creeps closer to the million-dollar mark. Across New Zealand house prices rose by 5.6 per cent in three months, the fastest rate since 2004, and equivalent to more than $30,000 in 90 days. In June alone, the...
Tue 5th Jul 2016Full post
Kmart on the hunt for Invercargill premises
Source: stuff.co.nz Invercargill's retailers and shoppers could receive a boost if big box Australian retailer Kmart is able to find a suitable premises in the city. The retailer remains on the hunt for a store location and a company spokesperson said an announcement would be made if a location had been finalised. "We are always looking for new locations to bring people our everyday low prices, and that includes Invercargill." First Retail Group...
Tue 28th Jun 2016Full post
Government approval frees up QT land
Source: odt.co.nz The Government has approved four new special housing areas around Queenstown, freeing up land for nearly 500 new homes. The approval fast-tracks the rezoning of 40ha of land to residential, providing the potential for 490 homes. Approved under the Queenstown-Lakes Housing Accord, the SHAs will enable much needed housing for the district, Building and Housing Minister Nick Smith said today. "This additional capacity is essential for Queenstown's thriving tourism...
Thu 23rd Jun 2016Full post
Queenstown, Central Otago lead steady growth
Source: odt.co.nz Median house price increases across Otago's townships and Dunedin's suburbs may have eased into single figures for the first quarter of 2016, but "critical shortages'' and high prices persist around Queenstown, overflowing into other Central Otago towns. Eighteen of the 27 towns and suburbs are showing more than double-figure percentage gains since the height of the last property boom in October 2007. Arrowtown and Frankton are each up more than 30% since the...
Mon 20th Jun 2016Full post
Huge hotel shortfall predicted
Source: scene.co.nz Finding a hotel room in Queenstown, let alone one that won't break the bank, is going to be a big challenge over the next 10 years. An independent report into the level of supply and demand for New Zealand hotels, commissioned by government and tourism bodies for 'Project Palace', suggests Queenstown will suffer the most of five 'focus' regions. The local hotel market could reach "critical capacity status" as soon as this coming summer with occupancy rates already...
Mon 20th Jun 2016Full post