Australian Real Estate Blog
From the category archives:
The country’s unemployment rate rose from 3.9 per cent to 4.2 per cent in the September quarter and Michael Hill told shareholders at his recent annual meeting that the company usually receives only four or five applications for part-time Christmas work in Auckland, but there were 80 applications this year.
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Alistair Helm, CEO of realestate.co.nz, said: ”This alliance is great news for New Zealand’s real estate agents and consumers.Shaun Di Gregorio, General Manager–Emerging Business Group, of the REA Group, said: ”We expect our alliance with realestate.co.nz will better serve the country’s real estate agents and consumers”and buyers overseas who are interested in New Zealand property.
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“Ongoing financial market turmoil and a deteriorating outlook for global growth have played a large role in shaping today’s decision,” Reserve Bank of New Zealand governor Alan Bollard said.
“Should the outlook for inflation evolve as projected we would expect to lower the OCR further,” said Mr Bollard.
Mr Bollard said the financial market turmoil meant “economic activity in New Zealand would be further constrained, relative to the outlook presented in our September monetary policy statement, by these international developments”.
theaustralian.news.com.au
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Labour says its plan to put cheap homes in reach of low income families is a breakthrough which National’s policy doesn’t match.Prime Minister Helen Clark announced yesterday Crown land would be opened up for houses that could be built for about $165,000, a much cheaper prospect than anything else on the market.
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Faced with a rapidly slowing economy, New Zealand’s central bank cut the official interest rate by half a per cent on Thursday, double the reduction forecast by analysts. more
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Australian banking giant Westpac is about to be caught up in a major brawl with apartment investors in New Zealand. more
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WITH commercial clearance rates as much as 34 per cent lower in August than at the same time last year, and the average sale price down 5 per cent in the same period, the New Zealand property market is under significant pressure. read more
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Real estate agents are no longer required to be members of the Real Estate Institute but will be subject to the scrutiny of independent bodies.
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Following a recent article in New Zealand’s South Island leading daily newspaper The Press “Leaky homes and the housing bubble“, the writer responded to comments by the New Zealand ANZ National Bank Chief Economist, Mr Cameron Bagrie with an article “ Understanding Housing Bubbles “.
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Earlier this month, the Real Estate Institute trumpeted that their latest data showed “an unmistakeable degree of recovery” and speculated that “if this is as bad as it gets, then perhaps the market is in better shape than we thought”. …read more
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