THE NEW FOREIGN BUYER BAN BILL

  Dear Reader, December last year was filled with changes in the New Zealand Government. A bill that would amend the current overseas act was introduced to revise the Overseas Investment Act. The current act applies to  sensitive land, but not residential land. The new bill would fit residential land within the category. According to Housing Minister, Mr. Phil Twyford, the government is determined to make New Zealanders first time buyers able to buy their first home without the competition of foreign buyers. Our property managers have been working hard to make sure our clients get the best out of

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Purchasing property in current market conditions, is it better to wait?

Purchasing property in current market conditions, is it better to wait? Recent research conducted by Goldman Sachs indicated that there is a 40% chance of the NZ housing market going bust. Further insights concluded that NZ’s housing market is over-valued the most amongst the G-10 economies. A housing bust can be described as house prices declining by 5% or more and is calculated through ratio calculations relative to house prices to rents, annual household incomes, and inflation impacting house prices. In Auckland alone, the average house price has increased 91% since 2007. With these escalating figures, the amount of people

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