Author Curreen

Commercial
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With light at the end of the tunnel shining brighter now that the Omicron peak has passed in an increasing number of countries, the conversation is inevitably turning to how its influence on property markets will impact future performance, Colliers reports What is becoming clear from the data we are collecting is that while some long-term trends are back, occupiers, investors and developers will need to blend new trends into their strategies for 2022 and beyond. Continue →
Environment
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Exacerbated flood risks associated with climate change will affect future property values in vulnerable areas as the intensity and frequency of flooding increase University of Otago researchers have launched a vital study into climate change that will leverage CoreLogic NZ’s property database to learn how future coastal flooding could impact residential property values. Continue →
Property Trends
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Signs of weakness have begun to show in dozens of suburbs across New Zealand, CoreLogic’s interactive Mapping the Market Report reveals New Zealand’s housing market has reached a clear turning point, as stretched affordability, higher mortgage rates and reduced credit availability cause growth rates to slow, or even turn negative, in many areas of the country. Continue →
Property Trends
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It’s been a bizarre period for the housing market ever since New Zealand entered its first lockdown on 25 March 2020, with predictions of large falls in property values turning out to be way off track, CoreLogic Chief Economist Kelvin Davidson observes After an initial four to five month period of housing uncertainty, the policy changes that were aimed at supporting the real economy – e.g. Continue →
Technology
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New Zealand’s property industry has accelerated its investment in technology in response to Covid-19 and embraced new systems and processes at a faster rate than its Australian counterparts, but we still have a long way to go Six in ten respondents to a survey conducted by the Property Council of New Zealand and software company Yardi still depend on spreadsheets to assess the performance of their portfolios. Continue →
Property Management
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WorkSafe is warning homeowners and landlords of a design fault with several brands of combination heat/light/fan units that has been identified as a fire hazard WorkSafe has noted a number of recent fires involving older combination bathroom heat/light/fan units (manufactured before 2008) and advises users with these units to visually check for signs of damage. Continue →
Commercial
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As the number of Omicron cases rise, Colliers looks to Australian cities to see how New Zealand’s office, retail and industrial markets could track in the future Office Sector Over the past two decades, vacancy rates in Auckland’s CBD and metropolitan office markets have typically followed a similar path with Sydney (5.1mil sqm total inventory) and Melbourne (4.9mil sqm total inventory). Continue →
Construction
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Supply chain disruption and rising material costs are putting additional pressure on construction firms already stretched thin, with many now turning to digital solutions, says Payapps Chief Operating Officer Tony Simonsen According to the latest New Zealand Core Logic data, construction costs in New Zealand have increased by 6.2 percent last year, largely due to rising commodity and raw material prices. Continue →
Materials
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A government-funded initiative aims to create a future where timber is used more widely in mid to high rise buildings and contributes to carbon neutral targets Te Uru Rākau – New Zealand Forest Service deputy director general Jason Wilson announced the launch at the WoodWorks conference, explaining that the Timber Design Centre aims to increase the use of timber, particularly in structures such as offices, hotels and multi-storey apartments. Continue →
Construction
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The collapse of Australian construction firm Probuild is unfortunately just one of the many detrimental outcomes we can expect to see unless more is done to effectively manage risks, Felix Chief Executive Mike Davis says Probuild will likely remain stalled for now, leading to more delays and cost overruns, compounding the adverse outcomes for owners, subcontractors, staff and significant ripple effects throughout the industry and wider community. Continue →
Property Trends
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It doesn’t matter if you’re in a main centre or a small provincial district, an owner occupier or an investor, or whether you’re selling a house or apartment, says CoreLogic NZ Chief Property Economist Kelvin Davidson New Zealand’s property market upswing has continued to drive record gross profits for homeowners, CoreLogic NZ’s latest Pain & Gain report found. Continue →
Property Trends
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Another 0.25% increase to the Official Cash Rate takes it back up to 1%, the same level it was in February 2020 when house prices were about $320,000 lower New Zealand’s average house price sits at $1,028,097 with an annual growth rate of 27.5% according to CoreLogic’s January 2022 figures, but in February 2020 it was just $722,475 with a 5.3% growth rate. Continue →
Construction
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Organisations in construction are operating blindly against an evolving backdrop of supply chain risks and changing business landscape, due to a staggering lack of transparency, procurement platform Felix reveals in its Building in the Dark report The report, developed in collaboration with industry consultancy Entwine, uncovers critical industry need for more supply chain transparency and effective risk management. Continue →
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