Parliament votes to pass the legislation for BANNING the letting fee.

The Parliament has voted to pass the legislation to ban the letting fee from 12th December onwards. The housing minister Phil Twyford said that letting fees are unfair for the tenants and banning it will be a good initiative in improvising the conditions for tenants, while in the long run, they are still reviewing the Residential Tenancies Act. He stated “Our tenancy laws are antiquated and don’t reflect the fact that renting is now a long-term reality for many of our families. Around half of New Zealanders now live in rented homes. This change could put up to $47 million

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New Rules about Overseas Property Buyer

REAA has sent through a news letter to each agency about New Overseas Investment Rules. Are you overseas investment buyer? Read further to get more information! Metro NZ Property Management would recommend you to get professional’s advices first before you process your property transaction. New overseas investment rules live on Monday   The new overseas investment regime comes into effect next Monday, 22 October. From Monday 22 October, overseas people generally won’t be able to buy residential land in New Zealand unless they have a residence class visa and intend to live here. Every residential land sale will require a

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We are Finalist to Excellence in Strategy and Planning in Westpac Business Award 2018

  If Oscars were given for a job well done, I’d nominate ourselves! Congratulations to us on our fantastic achievement! After three months of hard work, we were proudly announced as a finalist to Excellence in Strategy and Planning of Westpac Business Award. The Westpac Business Excellence Awards take place all around the country, in conjunction with local Chambers of Commerce. They give all businesses the opportunity to benchmark their success against other local businesses, including those outside of their own industries. It is rare for a property management company to focus on its own strategy and planning and this

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Relax, Foreign Buyers!

According to Henry from Stuff.co.nz, the proposed foreign property buyers ban has been relaxed for foreign investors looking to buy apartments. “The Government will accept changes suggested by the majority of the Finance and Expenditure Committee in their report on the bill. The major change concerns apartments. Originally the ban would allow foreign buyers to purchase apartments off the plans, but would force them to sell them on once the building was completed. Now the ban will allow foreign buyers to hang on to apartments bought off the plan, as long as they are part of a development that is 20

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Is Buying a House Risky?

According to QV.co.nz, the Average Value in March 2017 is higher comparing to the Average Value in March 2016. In terms of the whole Auckland Area, the Average Value is now $1,045,365 and was $931,061 at the same period last year. It is never too late to buy a house, no matter it is for investment or for your own home. Regarding to Stuff.co.nz, the typical value of a first home on Auckland’s North Shore is now $777,000. In Hamilton, it is $469,750, in Wellington, $592,300 and Christchurch $382,250. That means, even with a 20 per cent deposit, buyers are

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