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'Gravitational pull' counters lending rules
New lending rules targeting Auckland residential property investors will cool the market - but the city's "gravitational pull" will counter any impact, John Key says.
New lending rules targeting Auckland residential property investors will cool the market - but the city's "gravitational pull" will counter any impact, John Key says.
Economics editor Brian Fallow says today's Reserve Bank move is crude, ad hoc and temporary - but it buys some time.
The Reserve Bank's new lending restrictions will make banks' books safer but may fail to cool the Auckland's housing market.
Reserve Bank targets Auckland property investors with new lending restrictions as it looks to take the heat out of the market.
The Reserve Bank will introduce new limits on lending to property investors in the Auckland Council area that would require those borrowers to have at least a 30 per cent deposit. What effect will this have?
Landlords says tenants will suffer from the Reserve Bank's 30 per cent rental property LVRs and rentals will become scarce.
He was known as the Mayor of Paice Ave, but now Dudley Watson's deceased estate in Mt Eden is on the market for the first time in nearly three-quarters of a century.
The Auckland region median dwelling sale price remained frozen over the last month at $720,000, but dropped in three areas.
REINZ figures show the national median house price fell 4.2 per cent in April, but rose 18pc in Auckland.
A second banking chief has denied Auckland has a housing bubble, saying many factors were combining to drive prices up including the city's sheer desirability.
Auckland Council's first big forced-sale property case sparked by unpaid rates did not go ahead as planned when the money was suddenly paid.
A reader writes: Is there a minimum contribution my partner needs to have been making in order to be eligible for the KiwiSaver HomeStart?
It seems to be the big question of the moment, writes Liam Dann. There's no doubt the property market is hot. Too hot for those struggling to buy their first home.
Desperate home-buyers have resorted to sleeping in cars overnight in the hope of securing one of 12 sections when they go up for sale this morning.
Adopting tougher restrictions on the foreign ownership of residential property may not have the desired effect, writes James Dunne. The Australian experience suggests that it will generate a great deal of additional work for the Government.
BNZ boss Anthony Healy says he doesn't believe the Auckland property market is entering bubble territory.
People in many of Auckland's poorest suburbs will pay dearly for a transport and general rates package costed at $214 for the average household.
Andrew King of the NZ Property Investors Federation outlines the main concerns around housing in Auckland - and clears up some of the facts.
The Government's much-flaunted affordable home build in Auckland has just become a little less affordable after developers were granted a series of price hikes.
The home loan environment could be "as good as it gets" for borrowers, although the potential remains for mortgage rates to track even lower, says Westpac NZ CEO David McLean.
Top-end Auckland rentals can hit $230,000 a year, enough to buy a house elsewhere.
Much fanfare accompanied the announcement of the Tamaki urban regeneration. But progress has not matched expectation and the Government has set about rectifying flaws.
A Cornwall Park Trust Board lessee wants a mediator appointed to sort out the long-running dispute over payments and other issues on 110 Auckland properties.
A real estate agent rented a house to a colleague at a discounted rate and paid the difference so he could use its garage for storage - without the owners' knowledge.
Economic expert says Auckland's property market has much in common with Canada's real estate boom and bust in the 1980s.
An old villa with rotting floorboards and a rusty roof is now one of the best on the block after an extensive and expensive restoration.
An enterprising Kiwi couple have converted an old flatbed truck into their dream country home.
Homeowners look set to enjoy further interest rate cuts, with a broker tipping historic lows within 12 months.
QV's latest figures show the average property value for the Auckland region has now broken into the $800,000s, fuelled by Auckland City-South.
It sits on nearly 14ha of sprawling ridgetop land commanding dramatic views over Piha's sentinel Lion Rock and the churning Tasman Sea.