Property · Building · Design
In late autumn, YIJU's long-planned property viewing column finally makes its debut. For our many readers, this is a fresh venture alongside our in-depth reporting. We hope this platform will bring you some different perspectives.
Good news has been flowing for Hamilton recently. With the Hamilton–Auckland train service officially beginning on 9 April and Singapore’s Eden Strategy Institute naming Hamilton a global smart city, this city about 100 kilometres from Auckland is once again attracting attention.
Last week, the first seminar in the older-home renovation series jointly organised by YIJU New Zealand and the New Zealand Chinese Building Industry Association (NZCBIA) was successfully held. Titled “How to increase your property’s value: the secrets and tips of renovating older homes”, the event attracted a hundred guests. Four speakers provided a comprehensive explanation of the many issues involved in renovating older homes.
After a year’s suspension because of the pandemic, the New Zealand Chinese Building Industry Expo and Summit (NZIBES, known in Chinese as the New Zealand Building Expo) will open in style at Auckland’s Vodafone Event Centre this year in August, from 6–7. Expected to attract more than ten thousand visitors and over a hundred well-known exhibiting companies, it is also New Zealand’s biggest property and construction industry event.
The recent announcement of new tax policies has caused an uproar in the property market. Many landlords unhappy about the removal of interest deductibility have threatened the government with rent increases and property sales. Some have even declared on social media that they will “evict tenants on the coldest day this winter”.
A carefully refurbished, two-storey commercial property in central Ponsonby, with an entry-level price and a range of possible uses… It sounds appealing, but is it really worth buying? Bernard takes a closer look.
We may recognise every word in economic news, yet most of us probably understand only part of the story. What do these figures really mean, how do they guide investors’ decisions, and how do they affect our everyday lives?
This autumn, the New Zealand Chinese Building Industry Association will host the New Zealand Property Market Seminar and Queenstown Property Investment Seminar, referred to below as the Property Market Seminar, at the Hilton Queenstown on 24 April.
Last week, a prominent property commentator wrote that the new housing policies were having an extremely negative effect on the current property market. Investors, landlords and tenants alike would face an increasingly deteriorating housing market over the next few years,
Following the government’s latest round of housing market measures last week, the eagerly awaited March house price figures are finally out. Average house prices across New Zealand continued to rise in March, but growth slowed. The government’s series of measures appears to be gradually influencing the property market.
New Zealand’s housing market has faced a fresh regulatory offensive in 2021. From the return of LVR restrictions to last week’s announcement extending the bright-line test to 10 years and removing interest deductibility, alongside the government’s consideration of DTI restrictions, the new measures show its determination to rein in the housing market this year. With residential investment increasingly difficult to enter, where will investors turn?
Of the housing measures announced by the government last week, removing interest deductibility will have the greatest impact on investors. Taking effect from 27 March, the policy will increase the tax burden on long-term investors holding older homes. An Auckland chartered accountant calculated: “An older Auckland home currently earns around NZ$30,000 a year in rent. At a tax rate of 33%, the owner would have to pay roughly NZ$4950 more in tax each year.”