Opponents lose Appeal Court attempt against Waiheke's first commercial marina

The Court of Appeal has rejected a legal challenge against a proposal to build Waiheke Island's first commercial marina, refusing to allow opponents to try to have a High Court ruling overturned.SKP (Inc) has long been fighting...

Source: nzherald.co.nz - Property | 3 Dec 2020 | 11:00 am

Education Minister Chris Hipkins takes aim at University of Auckland over $5m Parnell house

The Education Minister has taken aim at the University of Auckland after the Government's financial watchdog panned the purchase of a $5m Parnell mansion for its vice-chancellor.The university bought the four-bedroom luxury home...

Source: nzherald.co.nz - Property | 3 Dec 2020 | 6:00 am

Wide-sweeping retirement village law change mooted, owners reject suggestion

Wide-sweeping changes are recommended to the multi-billion dollar retirement sector, home to a "vulnerable" population estimated at 43,000 people.Retirement Commissioner Jane Wrightson's office today released a discussion paper...

Source: nzherald.co.nz - Property | 3 Dec 2020 | 6:00 am

University's $5 million Parnell mansion purchase panned by watchdog

The University of Auckland's controversial purchase of a $5 million Parnell mansion for its boss has been slammed by the Government's financial watchdog.The university bought the four-bedroom pad in November last year as a home...

Source: nzherald.co.nz - Property | 2 Dec 2020 | 3:42 pm

Complaints against real estate agents hit 10-year low but consumer issues during deals rise

Complaints against real estate agents have hit a 10-year low, the Real Estate Authority says but the percentage of consumers who had issues or problems during transactions has risen.In the 2019/20 year, 288 formal complaints were...

Source: nzherald.co.nz - Property | 2 Dec 2020 | 12:43 pm

Barfoot & Thompson figures: Nearly half of all Auckland homes sold in November priced over $1m

The latest figures from Auckland's biggest real estate agency showed that nearly half of all the city's homes sold in November changed ownership for more than $1 million. "The average price at which homes are now selling, compared...

Source: nzherald.co.nz - Property | 2 Dec 2020 | 11:02 am

Ex-Facebook president Sean Parker can buy a third of Weta Digital

Facebook's first president, billionaire Sean Parker, has won consent from New Zealand's Overseas Investment Office to buy a third of Academy Award-winning Weta Digital which made The Lord of the Rings and Avatar possible.In a decision...

Source: nzherald.co.nz - Property | 1 Dec 2020 | 7:50 am

IRD cracks down on residential property investors shirking tax rules

By RNZ Inland Revenue is cracking down on residential property investors who have sold without paying tax on the profits.The department is matching tax returns with property transactions and is contacting who might be affected...

Source: nzherald.co.nz - Property | 30 Nov 2020 | 8:47 pm

New Zealand already has a capital gains tax - you probably just didn't know it

Prime Minister Jacinda Ardern might have ruled out bringing in a capital gains tax, yet there is already a tax on the books that could do the job instead.That's according to two University of Auckland researchers, who say section...

Source: nzherald.co.nz - Property | 28 Nov 2020 | 6:11 pm

Black Friday: Bunnings shuts big $49.2m Mt Roskill warehouse, cites earthquake risks

On this Black Friday retail bonanza day, Bunnings has suddenly shut a big $49.2 million Auckland store after engineering advice about seismic issues.A statement just issued from Australia described problems at the property, owned...

Source: nzherald.co.nz - Property | 27 Nov 2020 | 12:20 pm

Wellington house sales: Lack of maintenance poses future risk when market slows

The sale of unmaintained houses poses a risk for buyers once the market slows down, a Wellington real estate agent says. CoreLogic data released this week shows 99 per cent of Wellington houses sold in the third quarter, sold for...

Source: nzherald.co.nz - Property | 27 Nov 2020 | 9:30 am

Wellington flat labelled an '$800 dungeon'

A central Wellington flat needing tenants has been ripped apart by critics on Facebook - with some labelling it an "$800 dungeon" that "smells like depression".The Marion St flat is listed at $815 per week, has four bedrooms and...

Source: nzherald.co.nz - Property | 26 Nov 2020 | 11:02 am

Argosy Property half-year net profit up 50% on revaluation gains

Argosy Property's half-year net profit rose 50 per cent on the back of strong revaluation gains, rising from $76 million last year to $114.5m this year.Gross rental income increased from $50.2m to $53.3m and the company, which recorded...

Source: nzherald.co.nz - Property | 26 Nov 2020 | 9:40 am