Property · Building · Design
Heat pumps: rising prices and stock shortages With temperatures falling as winter sets in and more people choosing to work from home, consumer demand for heat pumps is soaring! We interviewe
The largest gathering of New Zealand's Chinese construction and property industries — the 2021 New Zealand International Building Expo & Summit (NZIBES) — will open on 6 August at the Vodafone Events Centre in Manukau. The expo runs for two days (6–7 August). Together, these premier construction and property industry events are expected to attract ten thousand participants for an unprecedented occasion.
In recent years, land shortages and the Government's strong push for medium- and high-density housing development have led to a substantial increase in owners buying unit title properties. These units collectively form a body corporate, often shortened to body corp. Many Chinese owners who buy properties within a body corporate encounter management disputes and do not know how to protect their rights. Dealing with a highly unreliable management company makes the experience even more exhausting and time-consuming.
This year, the Government has given new homes a policy green light under the new property tax regime. Houses defined as new builds will currently be exempt from the new policy. However, the announcement has sparked widespread responses, with industry figures and mainstream media criticising the regime as too hastily devised and leaving the definition of a new build unresolved. How exactly should a new build be defined? How should the complex new tax rules be followed? These have become leading concerns for the industry.
The latest property data released by REINE shows that New Zealand's house sales in May reached a three-year high, while Auckland's reached a five-year high. Median sale prices also set new records in Auckland, Waitakere, Papakura and Taranaki, among other areas.
“Population and the economy, are interdependent concepts that constrain, permeate and influence each other.” A recent report in The Economist shows that fertility rates have fallen sharply in recent years in both China and developed economies worldwide. China's latest census figures indicate that its population growth has almost stalled.
Auckland made global headlines again this week! The annual report by the UK’s Economist Intelligence Unit, abbreviated to EIU, scores 140 cities worldwide on stability, infrastructure, education and healthcare. With COVID-19 affecting living conditions around the world in 2019, Auckland, New Zealand, was named the world’s most liveable city for 2021.
New Zealand’s property market has fully entered a construction boom, but the most serious challenges facing the construction industry are rising building costs and raw material shortages, which are driving costs higher.
The Economist, the renowned international current affairs weekly, recently commented: “The West’s biggest economic mistake has been its failure over measures restricting housing supply. This has sent rents and house prices soaring in major cities across developed countries, directly preventing people from moving to the most productive areas and ultimately leading to a substantial loss of labour and slower GDP growth.”
As early as the end of last year, ASB’s chief economist publicly warned mortgage borrowers to “lock in mortgage rates as soon as possible, rather than focusing only on immediate gains”. Mortgage rates, currently at historic lows, are expected to begin gradually rising from month 5, making borrowing costs, including repayments for existing borrowers, more expensive.
The largest gathering of New Zealand’s Chinese construction and property industries, the 2021 New Zealand International Building Expo & Summit (NZIBES), opens on 6 August at Manukau Vodafone Events Center (Vodafone Events Centre). The expo runs for two days (August 6–7). This premier pairing of construction and property industry events is set to attract ten thousand participants in a gathering of unprecedented scale.
From an aesthetic perspective, a fine work of art can bring pleasure and deeper philosophical insights. Its aesthetic value cannot be replicated, which helps explain why works by many artists command high prices and are keenly sought after by art enthusiasts.