Property · Building · Design
On 24 March, the Government urgently introduced a nationwide 6-month rent freeze in response to COVID-19. Three months on, the policy has presumably protected many existing tenants, but new data suggests it has had little effect on tenants looking for a new home or landlords seeking tenants.
Many people are asking whether now is a good time to invest in property. In fact, opportunities exist at any time. Rather than whether to buy, perhaps the key questions are what to buy and how to buy it.
The latest property market data report shows the market began rebounding in May. As New Zealand’s major banks repeatedly cut mortgage rates, every buyer is undoubtedly concerned about choosing the best-value loan and buying the home they want with the smallest outlay.
New Zealand’s gross domestic product (GDP) fell 1.6% in the first quarter ending in March 2020, exceeding the 1% decline forecast by most economic analysts. This shows that the global spread of COVID-19 and its early arrival in New Zealand had already dealt a significant blow to the local economy. Let us look at economists’ interpretations.
More people are becoming interested in family trusts as a way to protect assets and provide for future generations. With the new trust legislation taking effect in January next year, use the coming six months to learn what to consider when establishing a trust under the new rules and how to review an existing trust.
Since the pandemic spread in March, the property market has been seen as an important indicator of New Zealand’s economic direction. Puzzlingly, property experts and economists hold almost diametrically opposed views of its short-term prospects. One side believes the market is stable, with minor fluctuations unlikely to disturb the overall upward trend; the other insists a noticeable, or even severe, downturn is inevitable.
Although the COVID-19 outbreak appears to be over in New Zealand, its negative economic effects continue, including worsening unemployment. When bad news is unavoidable, let us look at how to minimise its consequences and find some positives. Winter will eventually pass, after all, and there is still a long road ahead.
From 16 August 2019 to 18, the New Zealand Chinese Building Industry Association (NZCBIA) hosted the 2019 New Zealand International Building Expo and Summit (NZIBES). The success of this major industry event depended on the wholehearted support of nearly a hundred volunteers. For these young people contributing to the building industry, serving NZCBIA was also a rare opportunity to broaden their horizons, build networks and develop their knowledge and skills.
The Health and Safety at Work Act 2015 (HSWA) is New Zealand’s principal workplace health and safety legislation. Four years have now passed since it came into force in April 2016. At its core is the principle that workers and others should receive the highest level of protection against harm to their health, safety and welfare arising from workplace risks. The legislation affects permanent employees and contractors in construction and other industries alike. Yet unknowingly breaching it remains fairly common.
Across the world and throughout history, construction has always been a high-risk industry.
Through years of land development planning, combining rules with experience, we have gradually identified patterns in Auckland’s development planning. Below, I explain development ‘formulas’ through three factors: zoning, housing types and sizes, and site shape. I hope this will help YIJU New Zealand readers better understand their land’s potential.
During 2019, fire safety became increasingly important in construction. It is expected to become an even greater priority for the building industry in 2020.