Real estate stories
Demand for warehouse space is rising as online retail squeezes physical stores, with New Zealand investors watching Australia’s boom closely.
Affordability and tight supply are driving activity in cheaper districts, with Tararua, Waipa and Selwyn topping the turnover rankings.
Auckland’s more permissive zoning is helping ease prices, widen lending and give first-time buyers a better shot at home ownership.
New Zealand operators can now tap a fast-growing office market as two thirds of large corporates plan flexible space use.
Affordability is pushing first home buyers to dominate purchases in several New Zealand suburbs, with some taking more than 60% of sales.
Auckland’s housing shortfall is worsening as consent and completion numbers slip, raising pressure on ministers to speed up land release.
It will add 226 apartments and a 233-room hotel to downtown Auckland as demand for CBD homes outstrips supply, with completion due in 2024.
Property demand in Auckland and Queenstown has softened after the ban, with foreign purchases plunging 81% in the first quarter.
Home buyers have driven Turangi's median property value up 41% in a year, leaving it at NZD $260,000.
Melbourne office tenants could soon get the city’s first premium timber tower, with GPT aiming to complete the Frame project in late 2021.
Passengers could soon book flying taxi trials in Melbourne or Sydney, as Uber prepares to name its first international test city on Monday.
New Zealand entrepreneur Mark Hurley is launching Jasper, a tech-enabled marketplace for investing in commercial real estate with lower minimums and fees.
Auckland's market weakness is dragging New Zealand house prices sideways, with suburbs still showing sharp gains in the regions and losses on the North Shore.
Buyers in boutique apartment projects are driving demand for custom layouts, hotel-style foyers and wellness spaces as competition intensifies.
Many landlords may simply hold properties longer or pass them on, as the proposed ring-fence is unlikely to slash rental stock or confidence.
Auckland City and the North Shore are weighing on the market, with average property values down 1.5% over the past year.
Borrowers could see lower mortgage rates after the Reserve Bank cut the official cash rate to 1.5% and hinted at another fall this year.
Auckland vendors are offering a $1.2 million home for Bitcoin, in a potential first cryptocurrency property deal for New Zealand.
Auckland’s weakness is masking stronger gains elsewhere, with provincial house values rising 8.2% over the year and interest rates low.
Auckland's weaker market is likely to drag on national property sales, even as CoreLogic sees New Zealand prices edging up about 3% this year.
