Author Curreen

Commercial
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The impacts of COVID-19 has stalled New Zealand’s commercial property sector, with uncertainty over the long-term impacts driving a steep decline in market confidence, the Q1 2020 RICS New Zealand Commercial Property Monitor has found The quarterly market survey of New Zealand commercial property professionals released today by RICS shows that demand for commercial property from both occupiers and investors has stalled to begin 2020, leading to a dive in sentiment amongst investors and occupiers over the past three months. Continue →
International
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While we are up to the minute with the state of play in New Zealand and across the ditch in Australia, our world knowledge is sketchy and politically driven   The Singapore University of Technology and Design (SUTD) has been providing predictive monitoring and presents an independent research project around the world using data-driven predictive analysis. Continue →
Commercial
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Government and bank investment to stabilise commercial, office and industrial and residential property – and safeguard investors and their tenants – are essential to provide a platform for the recovery of the whole economy, says Nikki Connors The Reserve Bank of New Zealand told banks it would remove loan-to-value ratio (LVR) restrictions on residential mortgage lending for at least a year, with the idea that mortgage lending and feedback from banks would be monitored during what everyone expects to be a recessionary environment. Continue →
Construction
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A new national Standard and Protocols have been developed for the construction industry, providing clarity over what will be expected as the industry returns to work under Alert Level 3 “The government’s announcement that construction will be able to operate under COVID-19 Alert Level 3 is a huge relief to us all,” says Civil Contractors New Zealand Chief Executive Peter Silcock.  Continue →
Construction
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Auckland Council has submitted a list of 73 key projects to the Infrastructure Industry Reference Group, the taskforce set up by the Government to seek out ‘shovel-ready’ infrastructure projects that can start quickly to stimulate the economy and reduce the economic impact of COVID-19 The list is made up of two parts: 30 key projects ranked in order of priority and a further 43 projects that are not ranked but that also meet the Government criteria. Continue →
Property Trends
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News that the Reserve Bank is proposing to remove its mortgage loan-to-value ratio (LVR) restrictions will mean young Kiwis can buy their first homes sooner with lower deposit requirements now inevitable, says Century 21 New Zealand Owner Derryn Mayne Yesterday the Reserve Bank announced over the next seven days it will consult on its proposal to scrap LVRs for at least a year. Continue →
Property Trends
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Until the Coronavirus struck New Zealand in early March, the housing market was ticking along nicely, with the average national value going up 6.1% in the last 12 months, but coming out of lockdown we can expect to see a very different market, Quotable Value Ltd General Manager David Nagel anticipates Bob Dey In the final week before lockdown, we could see the impacts of uncertainty starting to have an effect. Continue →
Construction
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The New Zealand Government’s recent announcement that it has established an industry-led taskforce to identify fund large “shovel-ready” infrastructure projects after the COVID-19 lockdown is welcome news to a sector reeling from the impacts of the pandemic When the time comes, the construction and infrastructure sector will play a critical role in New Zealand’s economic recovery and the government’s acknowledgement of this will help alleviate some concern about what life may look like past the pandemic. Continue →
Commercial
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New Zealand’s $145 billion commercial property sector is facing hundreds of millions in lost revenue without further support, increasing the risk of stalling the economy, says Property Council New Zealand chief executive Leonie Freeman The challenges facing business are vast and unchartered. Continue →
Construction
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Government guidance on handling construction contracts will give many construction companies the confidence to continue to employ their people and take a lead role in the economic recovery following the lockdown, says Civil Contractors New Zealand Chief Executive Peter Silcock Government commitment to a fair and consistent approach to construction contracts impacted by COVID-19 closedown is welcome and will make a huge difference for construction companies. Continue →
Property Trends
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With a clear-headed approach that takes advantage of the tools available to us right now, Kiwis who own their own home and/or investment properties can protect those assets through the current uncertainty and the downturn that is expected to follow, says Founder of Propellor Property Investments Nikki Connors I have experienced financial disaster and the loss of my home, and there’s no way I want any other New Zealander to be in that situation as a result of our current national crisis or any other circumstance. Continue →
Construction
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After four years of planning and court battles, the demolition and re-development of Invercargill CBD is facing more hold ups with the country under lockdown As all non-essential workers head home for a minimum of four weeks to combat COVID-19, the Invercargill CBD development is unlikely to meet its target open date. Continue →
Property Trends
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Despite a nationwide property report showing new listings in March down 16.5% on the same time last year, it’s great that serious buyers have remained active online during the lockdown, says Derryn Mayne, Owner of Century 21 New Zealand While the country’s level 4 restrictions to combat the Covid-19 pandemic had an immediate impact on new listings at the end of March, average asking prices last month remained buoyant across the country – up 5% on a year ago. Continue →
Compliance & Legal
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With many tenants now unable to access their premises due to COVID-19 lockdown restrictions, commercial property landlords could be hit with ‘no access’ lease clauses, warn leading property and legal experts The most common standard form of commercial property lease in New Zealand, the Auckland District Law Society (ADLS) Deed of Lease, includes a ‘no access in emergency’ clause. Continue →
Training & Management
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The COVID-19 outbreak has prompted occupiers to accelerate the implementation of wellness measures in their workplaces while introducing additional hygiene and health-related steps, CBRE Global Research reports Tens of millions of employees in Asia Pacific have been advised – and in some cases ordered – to work from home due to health and safety concerns. Continue →
Finance
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Australia Stock Exchange-listed Centuria Capital has withdrawn plans for a NZ$180 million takeover of one of New Zealand’s largest listed real estate funds management platforms Augusta Capital In a statement to the ASX, Centuria confirmed the deal, which had been a matter of consideration for a considerable amount of time, had been called off amid the coronavirus pandemic and ongoing market volatility. Continue →
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