Author Curreen

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 →
Training & Management
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The Government has announced its five step plan for the borders to re-open, meaning employers can once again start planning for skilled workers to enter the country, Civil Contractors Chief Executive Alan Pollard says While this will be a phased re-opening of the border, the good news is it will enable us to start bringing in skilled and experienced people from off-shore once again. Continue →
Construction
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The cost of both residential and non-residential construction rose more than 10% last year and similar forecasts are expected for 2022 according to the NZ Infrastructure Commission’s Quarterly report “Infrastructure providers, property developers, and households are trying to build more than ever, but labour shortages, material supply chain bottlenecks, and Covid-induced slowdowns have gotten in the way,” says Commission Director of Economics, Peter Nunns. Continue →
Development
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A new rating system has rolled out in New South Wales to stop “a few bad apples” ruining the reputation of developers in Sydney, The Urban Developer reports The state government’s independent rating initiative comes as research found at least one-in-four apartment blocks in Sydney had one or more defects, including cracking, fire safety and water issues. Continue →
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