The effect of declaring most of Dunedin's flat land at risk of liquefaction has caught out another home buyer trying to get insurance, and real estate industry figures are warning of an overreaction to a problem they say has been blown out of proportion.
Stage two of the $10 million affordable housing development at Lake Hayes Estate could begin by Christmas, despite the Charities Commission's decision to investigate the charity status of the trust behind the project.
A stagnant climate in the property market could last for months, after the usual spring lift in the market failed to show up in October, real estate industry website realestate.co.nz says.
The mood of the real estate market in Dunedin is "sobering", with sales down and prices static compared with last year, Liz Nidd, Otago regional representative on the board of the Real Estate Institute of New Zealand, says.
The number of residential property sales edged up last month from August, but the tally was still the weakest for a September month for at least a decade.
Dunedin property values continue to slide, according to the Quotable Value August residential price index.
The Government is changing the way it sets rents for pastoral lease farmland, shifting from a system based on land value to one based on productivity and economic conditions.
Uncertainty over pending interest rate rises, difficulties in raising finance and an oversupply of housing stock are thought to be behind a continued decline in Dunedin property values.
Auckland's Peter Crowe has put the resource consent process for an 85-unit worker accommodation project in the too-hard basket and moved on to other things.
Three debt-recovery cases in Wanaka. -
New sales figures show further indications of a slow down in the residential property market.
The Dunedin City Council has a Christchurch developer in its sights, claiming a muddy torrent from his subdivision caused $15,000 in damage to a Brockville playing field.
The Environment Court has upheld a decision permitting the rezoning of 131ha of Cardrona Valley land that could pave the way for a large residential and hotel development at Mt Cardrona Station.
The number of house sales and prices both dropped in April but things are still better than they were a year ago, says the Real Estate Institute of New Zealand (REINZ).
More opponents of Dunedin funeral directors Hope and Sons took aim at the company's proposed new cremator in South Dunedin on the second and last day of a resource consent hearing yesterday, but the company, through counsel Phil Page, had the last word.
The Government yesterday moved to curb New Zealanders' obsession with property, Mitchell Mackersy partner Sally Peart said last night.
Seven Arrowtown sections owned by the Queenstown Lakes District Council are likely to be offered to the people who lease them at market value.
The rural property market continues to limp along, with few sales, and subdued prices, according to the latest Real Estate Institute of New Zealand (REINZ) figures.
Property prices may fall as a result of today's budget, but it is harder to tell if rents will go up as landlords try to make up for paying more tax on property investments, according to analysts.
Changes already signalled for rules surrounding property investment are expected to be the main focus for financial markets when Finance Minister Bill English presents his 2010 Budget on Thursday.
