Tweet
From a weekly email I get.
Friday 28 December 2007
Happy New Year!
As we say good bye to 2007, we would like to wish you a happy, healthy and safe New Year. It was a year which saw the Reserve Bank raise the Official Cash Rate (OCR) four times yet property prices continued to grow, although at a slower pace than in previous years, and New Zealand homes generally became “greener”. We look back at a few of the stories that made the headlines…
1.
Interest rates rise
The Reserve Bank first raised the Official Cash Rate (OCR) by 25 basis points to 7.50 per cent in March, hinting at the possibility of further hikes in the future.
Reserve Bank Governor Alan Bollard said that while the short-term inflation outlook continues to ease, there is some concern that the recent pick-up in housing and domestic demand may gain momentum and cause further inflation in the longer term.
This was followed up by further rises in April, June and July, taking the OCR to 8.25 per cent.
Average house price goes over $405,000
In February, home prices were reported to be still rising but at a much slower pace, according to the latest figures released by property valuers QV.
January residential property statistics show an 8.8 per cent growth in national property values over the past year (calculated over the three months ending January 2007 in comparison to the same period last year), down marginally on the 9.2 per cent growth reported in December 2006.
The average New Zealand sale price increased from $348,886 last month to $356,028 this month.
By November, QV's figures were showing that national property values had grown another 12.7 per cent over the past year (calculated over the three months ending October 2007 in comparison to the same period last year).
"This has eased from 13.2 per cent reported in September and is the second month the rate of increase has dropped. The average sale price for New Zealand residential properties increased slightly to $406,176."
It pays to drive the right car
A London borough council announced plans to set the price on residents' parking permits according to the emission levels of their cars, meaning that owners of "gas-guzzling" vehicles will pay more to park outside their homes.
Leaky home claims get the fast-track
Building and Construction Minister Clayton Cosgrove announced in March that claims under $20,000 would be managed through a new streamlined Weathertight Homes Resolution Service (WHRS) claims process.
"This process will encourage fast resolution of claims informally through negotiation and mediation within set timeframes", Mr Cosgrove said.
EnergyWise grants for sustainable, healthy homes
Minister Helen Clark announced in April that 30,000 New Zealand homes have now benefited from insulation and energy efficiency measures under the government's EnergyWise home grants programme.
"Pursuing greater energy efficiency in the home is one of the most important things New Zealanders can do to help make our country more sustainable," Helen Clark said
Cash for solar water heating
In June, Government Spokesperson on Energy Efficiency and Conservation, Jeanette Fitzsimons launched a $500 cash grants scheme to help householders reduce their greenhouse gas emissions through the installation of solar hot water heating systems.
Solar cells to dye for
Solar cell technology developed by Massey University shows that electricity could soon be generated from just a small amount of sunlight and with considerably less cost than at present.
Dr Wayne Campbell and researchers in the University's Nanomaterials Research Centre have developed a range of coloured dyes for use in dye-sensitised solar cells which will enable electricity to be generated from sunlight at a tenth of the cost of current silicon-based photo-electric solar cells.
Builders get licence cards
Builders will be required to carry a licence card from November 2007, as part of the ongoing reform of the building and construction sector.
The voluntary licensing scheme begins with designers, site leads and carpenters, with other
trades to follow. But Building and Construction Minister Clayton Cosgrove was quick to remind builders of the government's position on do-it-yourself builders.
"Let me make our position crystal clear; we have absolutely no intention of undermining the Kiwi DIY tradition of having a go. I have given the public a commitment that DIY will be protected, and I will honour that commitment."
Councils to authorise building
In July, Palmerston North City Council became the first local authority to gain accreditation as a building consent authority under the government's new rules to help ensure buildings are designed, built and inspected right the first time.
Bizarre property: Units go for a song
Already notorious for its eccentric resorts, Dubai is taking it one step further with a residential tower inspired by Apple's iPod. Designed by Hong Kong-based architects, the 23-storey building, scheduled to bring more than 200 units onto the market in 2009, is being launched by Dubai based real estate developer Omniyat Properties. The tower, labeled the iPad, is worth 3 billion Dirhams (around AUS$1B), and will sit atop a docking station angled at six degrees to replicate the exact look.
Extreme property: A house divided
Sharing a house with someone else can be trying at times - especially when that person is your disgruntled ex-husband. German police responded to a domestic situation last week in which a man had set about taking his share of belongings, along with half the family house. The man, a trained mason, measured the 8m by 6m home, took to the wooden roof and walls with a chainsaw, then picked up his half with a forklift and took it to his brother's.
Happy New Year!
As we say good bye to 2007, we would like to wish you a happy, healthy and safe New Year. It was a year which saw the Reserve Bank raise the Official Cash Rate (OCR) four times yet property prices continued to grow, although at a slower pace than in previous years, and New Zealand homes generally became “greener”. We look back at a few of the stories that made the headlines…
1.
Interest rates rise
The Reserve Bank first raised the Official Cash Rate (OCR) by 25 basis points to 7.50 per cent in March, hinting at the possibility of further hikes in the future.
Reserve Bank Governor Alan Bollard said that while the short-term inflation outlook continues to ease, there is some concern that the recent pick-up in housing and domestic demand may gain momentum and cause further inflation in the longer term.
This was followed up by further rises in April, June and July, taking the OCR to 8.25 per cent.
Average house price goes over $405,000
In February, home prices were reported to be still rising but at a much slower pace, according to the latest figures released by property valuers QV.
January residential property statistics show an 8.8 per cent growth in national property values over the past year (calculated over the three months ending January 2007 in comparison to the same period last year), down marginally on the 9.2 per cent growth reported in December 2006.
The average New Zealand sale price increased from $348,886 last month to $356,028 this month.
By November, QV's figures were showing that national property values had grown another 12.7 per cent over the past year (calculated over the three months ending October 2007 in comparison to the same period last year).
"This has eased from 13.2 per cent reported in September and is the second month the rate of increase has dropped. The average sale price for New Zealand residential properties increased slightly to $406,176."
It pays to drive the right car
A London borough council announced plans to set the price on residents' parking permits according to the emission levels of their cars, meaning that owners of "gas-guzzling" vehicles will pay more to park outside their homes.
Leaky home claims get the fast-track
Building and Construction Minister Clayton Cosgrove announced in March that claims under $20,000 would be managed through a new streamlined Weathertight Homes Resolution Service (WHRS) claims process.
"This process will encourage fast resolution of claims informally through negotiation and mediation within set timeframes", Mr Cosgrove said.
EnergyWise grants for sustainable, healthy homes
Minister Helen Clark announced in April that 30,000 New Zealand homes have now benefited from insulation and energy efficiency measures under the government's EnergyWise home grants programme.
"Pursuing greater energy efficiency in the home is one of the most important things New Zealanders can do to help make our country more sustainable," Helen Clark said
Cash for solar water heating
In June, Government Spokesperson on Energy Efficiency and Conservation, Jeanette Fitzsimons launched a $500 cash grants scheme to help householders reduce their greenhouse gas emissions through the installation of solar hot water heating systems.
Solar cells to dye for
Solar cell technology developed by Massey University shows that electricity could soon be generated from just a small amount of sunlight and with considerably less cost than at present.
Dr Wayne Campbell and researchers in the University's Nanomaterials Research Centre have developed a range of coloured dyes for use in dye-sensitised solar cells which will enable electricity to be generated from sunlight at a tenth of the cost of current silicon-based photo-electric solar cells.
Builders get licence cards
Builders will be required to carry a licence card from November 2007, as part of the ongoing reform of the building and construction sector.
The voluntary licensing scheme begins with designers, site leads and carpenters, with other
trades to follow. But Building and Construction Minister Clayton Cosgrove was quick to remind builders of the government's position on do-it-yourself builders.
"Let me make our position crystal clear; we have absolutely no intention of undermining the Kiwi DIY tradition of having a go. I have given the public a commitment that DIY will be protected, and I will honour that commitment."
Councils to authorise building
In July, Palmerston North City Council became the first local authority to gain accreditation as a building consent authority under the government's new rules to help ensure buildings are designed, built and inspected right the first time.
Bizarre property: Units go for a song
Already notorious for its eccentric resorts, Dubai is taking it one step further with a residential tower inspired by Apple's iPod. Designed by Hong Kong-based architects, the 23-storey building, scheduled to bring more than 200 units onto the market in 2009, is being launched by Dubai based real estate developer Omniyat Properties. The tower, labeled the iPad, is worth 3 billion Dirhams (around AUS$1B), and will sit atop a docking station angled at six degrees to replicate the exact look.
Extreme property: A house divided
Sharing a house with someone else can be trying at times - especially when that person is your disgruntled ex-husband. German police responded to a domestic situation last week in which a man had set about taking his share of belongings, along with half the family house. The man, a trained mason, measured the 8m by 6m home, took to the wooden roof and walls with a chainsaw, then picked up his half with a forklift and took it to his brother's.