NZ Property Investor January 2021

The Beginner’s Guide to Property Management has been designed and written by industry experts and sets out the multiple aspects of the complex role, which the Government has indicated will soon be regulated. REINZ chief executive Bindi Norwell says that as the industry changes, managers need to be able to keep up to date with all the relevant rules and regulations. They also need to be able to clearly communicate with both tenants and landlords; this skill will be embedded within all components of the course. “It all comes down to good communication and that’s something we have stressed right throughout the five modules, which make up the course,” points out Norwell. “Recently there have been a number of legislative amendments and reforms to tenancy law including the Healthy Homes…

The restrictions came into place as a means by which to reduce risks to financial stability and were subsequently removed in April 2020 in the wake of the Covid-19 pandemic. However, as the general manager of financial stability Geoff Bascand explains, the better-than-expected economic results post-Covid have actually led to skyrocketing house prices. “When LVR restrictions were removed in April, we said they would remain off for a period of at least 12 months to help support the economy. However, since then the economy has performed better than expected, and the housing market has proved resilient. “In addition, lending at higher LVRs has risen, particularly for investors, and there are signs that this trend is accelerating.” The Reserve Bank is concerned that increases in highly-leveraged borrowing, if continued, could lead…

Excessive noise and antisocial behaviour have led to the eviction of a troublesome tenant in Central Auckland. The tenant, Mitchell Lam was evicted after at least seven complaints from neighbours related to noise coming from the apartment. Security guards also found there to be excessive noise and reported on this when making their evening rounds. The owner, Brian Edgar, gave the tenant 14 days’ notice to remedy the situation on September 25, which began on August 17. This was not remedied, and there is evidence that at least eight more complaints were laid by various individuals around noise and antisocial behaviour. Significantly, CCTV recording shows footage of the tenant’s visitor damaging and attempting to damage the property. It also shows a fight that took place between the tenant and some…

PROPERTY INVESTMENT SEMINAR - ONLINE EVENTS January 14, 6:30-8:30pm, January 21, 6.30pm-8.30pm, January 28, 6:30-8:30pm. (This event will also be live at the Greenlane office.) Book at https://www.propertyapprentice.co.nz/free-property-investment-seminars/ PROPERTY INVESTOR WEBINAR (ONLINE EVENTS ONLY) South Island January 19, Hamilton and Tauranga January 20, Wellington January 26, Auckland January 27. Bookings via https://positiverealestate.co.nz/property-investment-seminar/ PROPERTY INVESTMENT AND EDUCATION LIVE ZOOM WEBINAR, January 26, 7:30pm. Hosted by Gilligan Rowe & Associates. Free to attend. For more information and to register, please visit https://www.gra.co.nz/events/property-investment-seminars or phone 09 522 7955. PROPERTY SCHOOL 7-MODULE ONLINE COURSE, available on demand. Hosted by Gilligan Rowe & Associates. Includes over 12 hours of videos, articles and quizzes. Cost is just $595. For more information and to register: https://www.gra.co.nz/events/gra-property-schoolor phone 09 522 7955. For more information about listing your event,…

For those of us enjoying the Kiwi summer, it seems that 2020 was nothing more than a fever dream. But despite a health crisis and market volatility making most markets resemble the ridgelines of the Southern Alps, the New Zealand property market has performed remarkably well. It has done more than just bounce back from the brink, it has gone on to break records left right and centre. Up and down the country property investment continues to perform well. No longer are rising prices the sole domain of the main centres, many regions are beginning to see their property investments rise in equity. Low interest rates have also seen new types of investors enter the market with the highest representation of first home buyers in years. Those who entered the…

REINZ HOUSE SALES: UP November sales nationwide were the highest for 164 months, while Auckland saw the highest annual increase in sales for 14 years. Year-on-year, sales were up by 29.6% nationwide and by 53.9% in Auckland. INTEREST RATES: DOWN Rates continue to go down, with HSBC offering 2.25% for one-year fixed mortgages. OCR: NO CHANGE The OCR has remained at the Covid-19 prompted record low of 0.25% since October. IMMIGRATION: DOWN Net migration from April to October 2020 was very low due to border restrictions. Despite this, Stats NZ’s provisional estimates for the year ended October 2020 show annual net migration at 59,500. BUILDING CONSENTS: UP Consents issuance nationwide remains at historically high levels: September consents were up by 3.5% year-on-year. Economists say consent issuance has shown continued resilience.…