Author Curreen

Training & Management
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Kiwi Property reported a 164% increase in net profit in the last six months as it looks at breaking ground on new developments, launching a new asset class and identifying new funding streams Kiwi Property today announced its interim financial result for the six months ended 30 September 2021, reporting an increase in all key operating metrics on the prior comparable period, including growth in income, profitability, asset values and interim dividend. Continue →
Construction
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For over eighteen months, the construction sector has experienced unprecedented project delays, budget blowouts, and shortages of labour, says Rob Bryant InEight EVP of APAC Rob Bryant In Australia, construction site closures in New South Wales have contributed to timeline overruns, in addition to costing the building sector a conservative estimate of $1 billion per week in that state alone.    Continue →
Property Trends
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In the 25-year history of CoreLogic’s Pain & Gain data series, never before have more resellers (in proportional terms) made gross profits, says CoreLogic NZ Chief Property Economist Kelvin Davidson New Zealand’s property owners continued to achieve considerable gross profits from the resale of their home or investment property in the three months to September 2021 (Q3), largely due to low levels of supply on the market, high demand and attractive mortgage rates. Continue →
Construction
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A new study highlights the challenges we currently face around construction material supply and what needs to be done to overcome these challenges, says New Zealand Infrastructure Commission Chief Executive Ross Copland New Zealand faces challenges in meeting demands for key construction materials for infrastructure, with a risk of delays to major projects. Continue →
Property Trends
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September’s house price dip may have just been an anomaly as New Zealand’s median house price shot back up by $100,000 in October, REINZ data finds “Despite some officials in Wellington doing their best to talk down the real estate market, it remains incredibly strong with summer now looking decidedly up,” says Century 21 New Zealand Owner Tim Kearins. Continue →
Construction
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New Otago University research reveals that New Zealand’s construction workers are more than two times more likely to die by suicide than the rest of the workforce, but one group has achieved global recognition in trying to turn things around While construction workers make up about 9.5% of all workers, the study found that between 17.3% (2010/11) and 29.7% (2018/2019) of those who died by suicide in New Zealand were employed in the sector. Continue →
Construction
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An upcoming state-of-the-art office building in Dunedin will be the case study for new safety trials, aimed at lowering the high number of workplace accidents in the building industry The construction industry represents 8% of the workforce, but accounts for more than 16% of ACC work claims, at a cost of $158 million annually. Continue →
Construction
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In the past year, several high-profile payment disputes in the construction industry have made headlines for all the wrong reasons, and a new Bill threatens to make things worse, says Payapps Chief Operating Officer Tony Simonsen In 2020, 58% of unreasonable contract disputes cost up to $99,000, 18% cost between $200,000-$999,999, and 6% cost more than $2 million, the 2021 BDO Construction Sector Report found. Continue →
Property Trends
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CoreLogic research indicates the market has peaked, with both sales activity and price growth set to ease further over the coming months, Chief Property Economist Kelvin Davidson says Despite a ‘strange and distorted period for the NZ economy and property market’, the latest CoreLogic Property Market and Economic Update for Q3 2021 confirms a cooling property market. Continue →
Opinion
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Against the advice of property experts, the Government will be proceeding with the planned changes to the Property Law Act – inserting a no-access clause into commercial leases By Leonie Freeman – Property Council New Zealand Chief Executive This move completely undermines the sanctity of commercial contracts by inserting a clause into every commercial lease in the country that neither tenant nor landlord has agreed to. Continue →
Housing
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A new bill has passed which is expected to deliver as many as 105,500 new houses in the next five to eight years by overruling district council plans New building intensification rules will mean up to three homes of up to three storeys can be built on most sites without the need for a resource consent.  Continue →
Property Trends
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CoreLogic figures show property values increased nationally by 1.4% during September, a reduction on August’s monthly growth rate of 1.6% and the fifth consecutive month of easing growth rates, says Head of Research Nick Goodall With most of the country, aside from Auckland, at alert level 2 for the majority of September, market activity has started to return. Continue →
Property Trends
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The Reserve Bank’s decision to lift the Official Cash Rate to 0.50% could see interest rates go up, but as long as servicing a mortgage remains comparable or cheaper than paying rent, prospective buyers will not be put off, says Century 21 New Zealand owner Tim Kearins We’re not expecting to see a sudden and significant change in rates, as banks have already been subtly raising mortgage rates in anticipation of future hikes. Continue →
Construction
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A five-company alliance in North America are bringing together best-in-class technologies and risk knowledge to provide construction managers with a 360-degree view of construction sites and real-time alerts regarding workers’ adherence to safety regulations Zyter, a leading digital health and IoT-enablement platform, has announced it is collaborating with Zurich, Qualcomm Technologies, Everguard and Rudolph Libbe Group (RLG) to advance the use of AI-based Internet of Things (IoT) technologies to enhance construction safety. Continue →
Rental
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Interest deductibility changes kick in for landlords on 1 October, the Government has announced, going against Inland Revenue’s advice and ignoring recommendations from property industry leaders The Government has confirmed its proposal to limit the availability of deductions for interest expenses incurred by residential property investors from 1 October, phasing them out over the four years. Continue →
Construction
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Dan Pollard, founder of trades software company Fergus, gives a breakdown of the current challenges facing the industry, and considerations to help get through the months ahead August’s lockdowns and tight restrictions coupled with border closures and broken supply chains had a noticeable impact on the construction industry. Continue →
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