Landlords stories
Mortgage repayments now absorb nearly half of household income, as record house prices and weaker wages push affordability to fresh lows.
The planned lease rule changes could force costly disputes on struggling tenants and landlords, while favouring lawyers and large firms.
Property values rose 1.4% nationally in September, but activity is easing as tighter lending and higher rates weigh on buyers.
Higher mortgage costs are unlikely to deter first-time buyers while rents keep climbing and remain above many monthly loan repayments.
Property groups warn the proposal could let well-funded firms seek cuts, leaving the most vulnerable tenants with less support.
Tenants could face higher rents and fewer homes as landlords lose interest deductibility from Friday, industry figures warn.
Online property traffic is staying strong during New Zealand's Level 4 lockdown, as buyers browse listings and sellers turn to virtual appraisals.
The franchise’s headquarters will move to Manawatu after Tim Kearins bought Derryn Mayne’s 25% stake in Century 21 New Zealand.
Rising mortgage rates and tax changes are set to cool sales, but CoreLogic says a full property downturn still looks unlikely.
The report urges ministers to curb speculation, strengthen tenant rights and expand social housing after finding the crisis breaches basic rights.
Government help may be needed as first-time purchasers’ share of the market falls to its lowest level since 2018, CoreLogic says.
Signs of cooling are emerging as quieter open homes and more auctions passing in are expected to slow gains after a red-hot year.
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.
Dicker Data has announced it has entered into a conditional BSA to acquire the Security and Information Technology distribution division of Hills in Australia.
JB HI-FI and Harvey Norman show improved business performance in recent financial records, driven by the COVID-19 spending boom.
