Property values in New Zealand fell 0.2% in December, marking the ninth drop in the past 10 months, CoreLogic reports   The national median value now stands at $803,624, which is 3.9% lower than a year ago and equivalent to a drop of around $32,200. Continue →

The Reserve Bank has cut the Official Cash Rate (OCR) by another 50 basis points to 4.75%, but CoreLogic NZ Chief Property Economist, Kelvin Davidson, says August’s OCR cut has yet to boost house prices and difficult decisions are still ahead for borrowers CoreLogic’s hedonic Home Value Index (HVI) showed another subdued month for the property market in September, with values down by a further 0.5%. Continue →

Studio DB’s work for Ngāti Hine Health Trust has received a coveted Bronze Pin at the 2023 Designers Institute of New Zealand Best Design Awards and is a finalist in the 2023 Interior Awards The Best Design Awards is an annual showcase of excellence in graphic, spatial, product, digital and motion design along with three special awards – Value of Design, Public Good and Toitanga. Continue →

ICD Property, the Australian developer working on Auckland’s tallest tower, has decided to exit the project, listing it for sale just months after winning approval ICD managing director Matt Khoo said the developer had decided to sell its first international site to allow it to pursue other projects in Australia. Continue →

New Zealand-based manufacturers, importers, retailers and distributers will be hit with new obligations to provide building product users with information about how building products contribute to compliance with the Building Code The regulations will commence on 11 December 2023 by which time manufactures and importers must meet their obligations. Continue →

Most seismically vulnerable buildings are not imminently dangerous and can remain occupied while seismic remediation work is planned, funded and undertaken, the Ministry of Business, Innovation and Employment (MBIE) advises The new seismic risk guidance has been developed by MBIE to help building owners and users understand seismic assessments and provide them with the tools to make informed and risk-based decisions about continuing to occupy buildings with low seismic ratings. Continue →

A Waikato construction company has won one of four major national prizes in Xero’s inaugural Beautiful Business Fund and will be using its $20,000 prize money to train staff for an earthquake strengthening project next year Xero, the global small business platform has awarded four New Zealand small businesses and non-profits a share of the $750,000 global prize pool as part of the inaugural Xero Beautiful Business Fund. Continue →

Property values in New Zealand fell 0.2% in December, marking the ninth drop in the past 10 months, CoreLogic reports   The national median value now stands at $803,624, which is 3.9% lower than a year ago and equivalent to a drop of around $32,200. Continue →