Property · Building · Design
Many YIJU readers are successful entrepreneurs based in New Zealand. How to make the most of business insurance to manage risks and prepare for the unexpected is an enduring concern for our business readers. YIJU has therefore invited respected local business insurance advisers to share their knowledge.
Following the shock of an unexpected pandemic, 2020 saw a flood of money and rising house prices worldwide, with New Zealand recording its strongest house price growth in years. That same year, New Zealand’s largest real estate agency, Barfoot & Thompson, achieved record sales of NZ$14,800,000,000, selling more than ten thousand homes.
New Zealand’s rapid economic rebound following the pandemic lockdown has prompted investor concerns about rising mortgage rates. Today, ASB announced increases to its fixed mortgage and term deposit rates ahead of the Reserve Bank’s OCR announcement this week. The market signals behind this move warrant reflection.
According to data released last month by Stats NZ, consents for new homes reached 41,025 in the year to March 2021, surpassing the previous record of 40,225 set in February 1974 for the first time.
The arrival of winter and new government rules aimed at making property purchases less attractive to investors have dampened neither house prices nor Auckland home sales in June.
Glen Innes was once surrounded by large numbers of state houses, some nearly a century old, and the area became synonymous with dilapidation and disorder. However, following extensive government development and planning, its average house price has now reached NZ$1,300,000.
This year, the Government announced a series of measures to support the healthy development of the housing market. The most significant have attracted widespread attention: restricting tax deductions for rental property interest from 1 October 2021, and extending the bright-line test period from 5 years to 10 years.
A survey by the Ministry of Business, Innovation and Employment (MBIE) shows that, as the global pandemic increasingly comes under control, a quarter of returning Kiwis are planning to settle overseas again, or are already doing so, because of high house prices.
Search Google for architectural designer Zhongming Huang (Paul), and astonishingly, there is just one relevant result: a few brief sentences about him on the team page of his own company, HC design—
Many YIJU readers are accomplished business owners in New Zealand. How to make the most of business insurance to manage risk and prepare for the unexpected has long been a topic of interest to them. YIJU will therefore select respected local business insurance advisers to share their insights on buying cover and help readers avoid common pitfalls.
New Zealand's Housing Minister announced nationwide Healthy Homes Standards in February 2019, introducing five new requirements for rental properties.
Last week, Stats NZ released New Zealand's GDP figures for the first quarter of this year. Strong growth in construction and services helped GDP rise by 1.6% over the quarter. Against a housing shortfall of up to 130,000 homes, the construction industry is enjoying an unprecedented boom. More than 40,000 new homes approved in a year marks the highest total in half a century, underpinned by government and bank support for new builds.