More lending restrictions?
Source: scene.co.nz The aggressive rebound in Auckland and South Island house prices during March has prompted Westpac to almost double its 2016 house price inflation forecast from 6% to 11.5%. In March, Auckland prices rose $70,000 to hit a record median $820,000, Central Otago Lakes rose more than 25% to $702,000 and Dunedin's total March sales of 277 houses was a more than eight-year high. Following the release of the most recent Quotable Value and Real Estate Institute of New Zealand...
Mon 18th Apr 2016Full post
Invercargill City Council buy parks for upwards of $100,000
Source: stuff.co.nz The Invercargill City Council has bought two new parcels of land, one in South City and the other in Bluff. The sections - one which is presently used as a basketball court and community garden in South City, and the other, the Bluff skate park, were purchased to secure their use by the council. The South City land cost $100,000 while the Bluff property cost $70,000. Council chief executive Richard King said the council had purchased the land on Grace St and...
Mon 11th Apr 2016Full post
Venture Southland seeing double at TRENZ conference
Source: stuff.co.nz The future looks promising for the Southland tourism industry with operators seeing double the number of travel buyers at the 2016 TRENZ Expo. TRENZ is New Zealand's premier annual international trade event, bringing together about 300 leading New Zealand tourism operators with international travel and tourism buyers from New Zealand's major and emerging visitor markets. Venture Southland tourism team leader Warrick Low said in previous...
Sun 3rd Apr 2016Full post
Houses selling quickly in Southland
Source: stuff.co.nz Houses are selling quickly in the South - but real estate experts say it's for very specific reasons. Data from the Real Estate Institute of New Zealand (REINZ) shows properties in Southland were on the market for a median of 37 days before they were sold in February. A total of 199 properties were sold, at a median price of $215,000. Pride Real Estate and Property Management chief executive Avinash Varghese said it was houses in the...
Tue 29th Mar 2016Full post
Invercargill City Council may invest in apartments for international students
Source: stuff.co.nz The Invercargill City Council will meet to consider investing in apartment accommodation for Southern Institute of Technology students, Mayor Tim Shadbolt says. The council has advertised its plans to hold a public excluded extraordinary council meeting on March 30 to discuss investment opportunities. The meeting was for the council to consider investing in student apartments, Shadbolt said. Invercargill had a shortage of suitable accommodation...
Fri 25th Mar 2016Full post
Migration continues to strengthen
Source: odt.co.nz New Zealand's net migration has gone from strength to strength during the past few years, consistently defying the most bullish of forecasts, Westpac chief economist Dominick Stephens says. It now looked ‘‘highly likely'' annual net migration would surpass 70,000 by June, taking the population growth rate to a post-1974 high of 2.1%. Commenting on the latest Statistics New Zealand migration and visitor numbers, Mr Stephens said strong population growth was...
Tue 22nd Mar 2016Full post
Invercargill City Council confirms $11.5 million upgrade for Branxholme plant
Source: stuff.co.nz The Invercargill City Council has confirmed a $11.5 million upgrade of the Branxholme water treatment plant to provide Invercargill and Bluff residents with cleaner drinking water. UGL Ltd, formerly known as United Group Ltd, was confirmed as the tender winner on Monday. The upgrade of the Branxholme plant was discussed at a meeting of the council's infrastructure and services committee on Monday as a public excluded agenda item. In...
Tue 15th Mar 2016Full post