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
New Zealand seeing increasing number of new homes being built
Source: propertywire.com Building consents for new dwellings are at a higher level in New Zealand than last year, up 12% in April compared with the same month in 2015. In seasonally adjusted terms the number increased by 6.6% but growth has eased in recent months, according to the data from Statistics New Zealand. However, the annual total is still at an 11 year high although most of the growth has been in Auckland and nearby regions, while Canterbury has decreased. The apartments...
Thu 16th Jun 2016Full post
Southland on the money as tourists buy in to the region
Source: stuff.co.nz Overseas tourists to Southland are spending more money in the region but domestic spending is down. Information released by the Ministry of Business, Innovation and Employment (MBIE) shows the tourism spend for the Southland region was an estimated $531m for the year to April 2016 - up three per cent on the previous year. MBIE estimated the total consisted of international visitors spending $192m in Southland...
Thu 16th Jun 2016Full post
Southland house sales - and prices - rising
Source: stuff.co.nz The median house price in Southland has increased by $15,000 in just a month. House prices in the region rose from $195,000 in April this year to $210,000 in May. However, the median price in May 2015 compared to May this year only increased $5000 from $205,000 to $210,000. Also on the rise was the number of houses being sold in Southland. Real Estate Institute of New Zealand figures for May say the sales volume...
Wed 15th Jun 2016Full post