The second round of Budget 2010 tax changes will help shift the economy towards savings, investments and exports and away from the “overinvestment in housing of the past decade,” said Finance Minister Bill English. By Benn Bathgate The changes include ending landlords’ and businesses’ ability to claim depreciation on buildings with a useful life of [...]
Median Selling Price The Median Selling Price has shown a slow decline over the last year but there are signs that things are stabilizing to a plateau. Number of Sales General market activity is still well down on historical averages. This lethargy appears to0 be on both sides of the market with less buyer activity [...]
After a period of slowly firming rents, the last month or so has shown a slight fall in the rents achieved for new tenancies in the two, three, and four bedroom categories. This may reflect the time of the year as much as anything else with the busiest time for new tenancies just around the [...]
In my job I get to view many homes each week. There is usually an obvious difference in the cleanliness, healthiness, and renovation standards of owner occupied homes vs rented homes. I thought I’d hone in on one part of this equation in this post – condensation and ventilation.
The national supply of properties for rent continues to decrease, but the decline has slowed according to an analysis of Trade Me Property’s listings over the past 3 months. Across New Zealand, the supply of rentals for the quarter ending 30 September was down 12% when compared to the same period last year. In the [...]
The Residential Tenancies Act (RTA) sets out the rights and obligations of people who rent their homes and of the people they rent from. The Act covers aspects such as payment of rent, bonds, property repairs and giving notice. New Zealand has changed significantly since 1986 when the current Act came into force – from [...]
The latest release from the Department of Building and Housing shows that average rents are rising. Recent media reports suggested that stocks of available rental accommodation was at a low ebb throughout the country except for Wellington. This rise in rents in the last couple of months maybe be a sign that Wellington also is [...]
I don’t usually do the cut and paste thing in my blog as it is not really kosher, but this article was so good I couldn’t resist. Full credit to Quotable Value for a well written and balanced post…. A Valuer’s take on tax changes The changes to the taxation system brought to light in [...]
The latest figures out from the Tenancy Services website shows rents rising on all property sizes in the Johnsonville/Newlands area with good numbers of properties being tenanted. Though anecdotal evidence suggests that there is a build up of vacant properties across Wellington with more than 1100 properties for rent on Trademe currently, average rents don’t [...]
Indebted landlords squeezed between rising costs and falling returns on rental homes are selling, bringing a rush of cheaper homes onto the market. With property values losing ground against inflation, landlords are facing flat rents, rising interest rates and Government attempts to dampen property investment. Last month’s Budget axed depreciation as a tax break for [...]
Whether you are a property owner or a tenant it is worthwhile being aware of the proposed changes contained in the Residential Tenancies Amendment Bill. Some of the proposed changes include: • Adding boarding houses and hostels to the types of tenancy covered by the Act and new notice periods for terminating a boarding house [...]
An article on the NZ Herald website caught my eye today and is a salutary tale for all owners of rental properties. A property owner is the “victim” after P-manufacturing equipment and chemicals worth almost half a million dollars was found at a rental property, say police. Detective Sergeant Ricky Thompson said a police investigation [...]
First National Group’s quarterly survey of its 70 New Zealand offices showed consistently increasing occupancy rates and the lowest vacancy rate for four quarters, halving from 6% in mid July to under 2.50% mid April. First National’s general manager John Stewart attributes the increasing demand to a lack of building, organic growth, continuing immigration, reduced [...]
So what exactly is happening in the Property Market. There are conflicting reports. On one side you have a mini boom in the Auckland Property market in some areas and reports that there are plenty of Chinese buyers coming into the market to buy top end properties while the house market is more subdued. March [...]
I have just inputed the latest rental data from the Department of Building and Housing market rent monthly release taken from bond lodgements for the Johnsonville- Newlands area. I use this market snapshot as a general guide to what is happening in the greater North Wellington area from Chartwell to Tawa. Click on the graphs [...]
There are two schools of thought when it comes to property investing, those looking to expand quickly maximize cash flow, the other school is looking to the longer term and is trying to minimize tax exposure. Both can be valid strategies and depend on your own attitude to risk and financial situation. You may wish [...]
