Real Estate Institute chief executive Bindi Norwell says LVR rules are stopping young people buying houses.
 
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Monday 14 August, 2017

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Houses are selling for well above their asking price in Palmerston North.

Warwick Smith/STUFF Houses are selling for well above their asking price in Palmerston North.

Buyers struggle to find a house in Palmerston North

The median house price in Palmerston North has increased only a flicker in the last month, but competition for houses remains intense, with most selling well above the asking price.
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Real Estate Institute chief executive Bindi Norwell says LVR rules are stopping young people buying houses.

JOHN BISSET/STUFF Real Estate Institute chief executive Bindi Norwell says LVR rules are stopping young people buying houses.

REINZ wants loan-to-value restrictions lifted for first-home buyers

The Real Estate Institute is calling for a review of loan-to-value restrictions as property market turnover drops to its lowest non-Christmas level since 2014.
Jo-Johnstone

JO JOHNSTONE Call: 021 411 107

Jo’s people skill and strong work ethic have seen her enjoy a fast start to what is now a very successful real estate career. With $100m+ in sales in the past three years Jo has established a growing reputation as one of Auckland’s fast emerging real estate professionals.
A penthouse suite elegantly perched alongside Sydney s Hyde Park has been swept up for a local record-breaking 18 million despite not being built yet.

PHOTO SOURCE: THE DAILY MAIL

Penthouse off Sydney’s lush Hyde Park sells for record $18million

A penthouse suite elegantly perched alongside Sydney’s Hyde Park has been swept up for a local record-breaking $18 million despite not being built yet.
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Construction manager Scott Jones oversees the build of six homes a month at the Tretham factory.

MONIQUE FORD / STUFF Construction manager Scott Jones oversees the build of six homes a month at the Tretham factory.

Modular homes are on the rise

Modular homes are on the rise as homeowners priced out of the market see it as a cheaper and more adaptable new build.
Ian Cassels company owns the building which sits on land owned by the Wellington City Council.

ROSS GIBLIN\STUFF Ian Cassels’ company owns the building, which sits on land owned by the Wellington City Council.

16-storey office tower, leased to Todd family, for sale in Wellington

A Wellington office tower, headquarters of one of New Zealand’s largest family-owned companies, is up for sale.
Some people who bought recently now own homes worth less than they paid for them.

NEVILLE MARRINER/STUFF Some people who bought recently now own homes worth less than they paid for them.

Has the crash started?

Barfoot and Thompson’s July sales report showed the average sale price for an Auckland Eastern suburbs home was $1.117 million in July, compared to $1.193m in July last year.
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JULY 2017 REINZ

REINZ

REINZ CALLS FOR LVR REVIEW AS NUMBER OF SALES ACROSS NZ FALLS SIGNIFICANTLY

The number of properties sold across New Zealand in July fell by a quarter (24.5%) when compared to the same time last year....

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