• Login:
Welcome, Register Here
follow PropertyTalk on facebook follow PropertyTalk on twitter Newsletter follow PropertyTalk on LinkedIn follow PropertyTalk on facebook
Results 1 to 10 of 10
  1. #1
    Join Date
    Sep 2003
    Location
    High up above and deep down under
    Posts
    10,915

    Default Slowdown in house building continues

    Slowdown in house building continues

    1:00PM Friday Nov 28, 2008





    Residential construction sunk further into the mire last month, with the number of new dwelling units authorised the lowest in 16 years.
    The 1173 building consents issued in October for new homes, including apartments, was the lowest monthly total since January 1992, Statistics New Zealand (SNZ) said today.


    Last month's total was down 22 per cent on a year earlier when apartments were included, and down 24 per cent with apartments excluded.
    Also last month, the seasonally adjusted number of authorised new housing units, excluding apartments, fell 7.1 per cent compared to September.
    When apartments are included, the total was down 22 per cent due to the low number of apartments last month.
    The 50 apartment units authorised in October was the lowest monthly total since April 2000, apart from March 2008 when there were also 50 apartment units authorised, SNZ said.


    Building consents issued last month were valued at $439 million, down 32 per cent on October 2007.



    For the year ended October, the value of consents issued for residential buildings fell $1.19 billion, or 15 per cent, to $6.58 billion, compared to the October 2007 year.
    The value for non-residential buildings dropped 14 per cent last month, compared with a year earlier, to $348m.


    For the year ended October, the value of non-residential building consents was up 7.2 per cent from the previous year to $4.48 billion.
    The value of consents issued for all buildings last month was $788m, down 25 per cent on October 2007.


    For the October year, the value of consents issued for all buildings was $11.06b, down 7.5 per cent from the previous year.
    - NZPA


    http://www.nzherald.co.nz/business/n...ectid=10545484
    "There's one way to find out if a man is honest-ask him. If he says 'yes,' you know he is a crook." Groucho Marx

  2. #2
    Join Date
    Sep 2008
    Location
    Tauranga
    Posts
    1,518

    Default

    All good, we will be short of houses by spring next year.

  3. #3

    Default

    Quote Originally Posted by Viking View Post
    All good, we will be short of houses by spring next year.
    Based on what?
    Erewhon is still erehwon, I donít see it changing anytime soon.

    http://exnzpat.blogspot.com/

  4. #4
    Join Date
    Sep 2008
    Location
    Tauranga
    Posts
    1,518

    Default

    Had plenty to say about that. go back and have read.

  5. #5
    Join Date
    Sep 2008
    Location
    Tauranga
    Posts
    1,518

    Default

    Signs of recovery in property market

    Turi Condon, Property editor | November 29, 2008

    Article from: The Australian
    AUSTRALIA'S residential market is scraping itself off the bottom with house and apartment prices growing -- if only by 0.3per cent for the October quarter -- after falling for the past six months.
    It may not seem much, but it is the first two consecutive months of growth since the housing downturn began, according to research from RP Data and Rismark International.
    "The doom and gloom merchants have misunderstood the fundamentals and the diversity of the Australian residential property market by predicting that Australia was headed for a market-wide implosion in 2008," according to RP Data head of research Tim Lawless.
    Australian property values had fallen just 0.8 per cent over the year to October, compared with the share market's (S&P/ASX 200 index) 40.5per cent drop, Mr Lawless said.
    "The Australian property market has moved through the bottom of its cycle," he said yesterday, releasing RP Data-Rismark's latest residential price index to the end of October.
    But the company cautions not to expect a quick turnaround and forecast flat housing prices in the first half of next year.
    Australia's biggest apartment builder, billionaire Harry Triguboff, earlier this month also called the bottom of the residential market. Mr Triguboff told The Australian his Meriton group was seeing some return of demand and hoped to boost sales from 1000 a year to 1500 in 2009.
    Other commentators are more pessimistic. AMP chief economist Shane Oliver believes Australia's house prices are overvalued and could fall 10-15 per cent next year.
    Earlier this month, Dr Oliver said an increase in unemployment posed one of the biggest threats to house prices. AMP forecasts the jobless rate will rise from 4.3per cent to 6.5 per cent in 2010.
    One of the country's biggest developers, Lend Lease, which built nearly 4000 houses and apartments in 2007-08, believes buyer confidence is the key issue.
    "Whether lack of confidence will cause the market cycle to slide (next year) was the issue," said Lend Lease chief executive retail and communities David Hutton. "I don't think anyone knows if it's the bottom. But sentiment will turn quite quickly in some areas depending on confidence."
    Lend Lease believes Sydney and Melbourne's inner and middle ring suburban apartments will be one of the stronger markets when sentiment improves.
    Tuesday's Reserve Bank board meeting should provide a confidence boost with analysts expecting another cut in interest rates.
    Rismark International managing director Christopher Joye said the small housing price recovery for the October quarter was due to improvements in affordability from the rate cuts, combined with the Government's increase of the first-home buyer's grant.
    "Based on current futures market pricing, we should see mortgage rates fall below 6 per cent during 2009," Mr Joye said.
    RP Data-Rismark found Darwin was the strongest market (up 4.77 per cent) for the three months to October's end, followed by Melbourne and Canberra (up 1.12 per cent). Sydney turned in a 0.51 per cent house and apartment price growth, Adelaide 0.46per cent and Brisbane and Perth fell into the red (down 0.32per cent and 1.83 per cent respectively).
    Last edited by muppet; 30-11-2008 at 08:25 AM.

  6. #6
    Join Date
    Sep 2008
    Location
    Tauranga
    Posts
    1,518

    Default

    Property

    RSS Email Print ShareThis
    Agency auctions 79 properties in one of busiest weeks yet

    4:00AM Wednesday Nov 26, 2008
    By Anne Gibson


    Auckland's largest agency Barfoot & Thompson has had one of its busiest auction weeks.
    Managing director Peter Thompson said his firm auctioned 79 houses during three days last week and that made it an extremely busy time because the firm was auctioning just 40 places a week in the winter.
    He expected a 58 per cent clearance rate of last week's properties.
    "Just over a third were sold under the hammer and I'm just waiting to hear within the week how many places have sold subsequently," he said. "We had bids on most places - only eight houses didn't get bids."
    About 60 places were sold by auction last Wednesday at a marathon event at Barfoot's city head offices from 9.30am until 5.30pm.
    Thompson warned against selling too many places on one day, saying time was often needed for vendors and buyers to negotiate after places were passed in.
    A mass apartment auction is also being held in Auckland today.
    Apartment specialist City Sales is auctioning 18 apartments and says it already has 12 to sell at its next auction on December 10.

  7. #7
    Join Date
    Sep 2003
    Location
    High up above and deep down under
    Posts
    10,915

    Default Victorian real estate slumps to four-year low

    Victorian real estate slumps to four-year low




    November 30, 2008

    Article from: Australian Associated Press
    VICTORIA'S real estate market has slumped to its lowest point in more than four years.
    At 807 auctions on Saturday, one in every two homes failed to sell under the hammer, Melbourne's Sunday Herald-Sun newspaper reported, with the clearance rate at 51 per cent.
    The last time auction clearance rate was lower was in July 2004, with one weekend recording 47.6 per cent of successful sales.
    In comparison, on December 1 last year, the clearance rate was 78 per cent, with 952 properties generating sales worth $502.18 million.
    Patchy results in all price ranges have seen the rate "flatline'' at 54 per cent this month, following a week-long dip to 53 per cent on November 1.
    Despite predictions that an expected further interest rate cut this week would boost sales, some real estate experts acknowledged would-be buyers were continuing to sit and wait because they believed they had the upper hand.
    Tim Fletcher, whose real estate group posted a 50 per cent clearance rate on Saturday, stood by comments he made earlier this month, suggesting auctions were a "lazy option'' in today's sluggish market''.
    "I would think at least 300 of those 900-odd properties should not be at auction,'' he said on Saturday.
    Hocking Stuart, which took 110 properties to auction on Saturday, sold 53 under the hammer, director Scott McElroy said.
    "A lot has been said about auctions (in recent weeks), but we are confident many are going to sell next week,'' Mr McElroy said.



    http://www.theaustralian.news.com.au...-12377,00.html
    "There's one way to find out if a man is honest-ask him. If he says 'yes,' you know he is a crook." Groucho Marx

  8. #8
    Join Date
    May 2008
    Location
    Torbay, Auckland
    Posts
    3,859

    Default

    Quote Originally Posted by Viking View Post
    Property

    RSS Email Print ShareThis
    Agency auctions 79 properties in one of busiest weeks yet

    4:00AM Wednesday Nov 26, 2008
    By Anne Gibson


    Auckland's largest agency Barfoot & Thompson has had one of its busiest auction weeks.
    Managing director Peter Thompson said his firm auctioned 79 houses during three days last week and that made it an extremely busy time because the firm was auctioning just 40 places a week in the winter.
    He expected a 58 per cent clearance rate of last week's properties.
    "Just over a third were sold under the hammer and I'm just waiting to hear within the week how many places have sold subsequently," he said. "We had bids on most places - only eight houses didn't get bids."
    About 60 places were sold by auction last Wednesday at a marathon event at Barfoot's city head offices from 9.30am until 5.30pm.
    Thompson warned against selling too many places on one day, saying time was often needed for vendors and buyers to negotiate after places were passed in.
    A mass apartment auction is also being held in Auckland today.
    Apartment specialist City Sales is auctioning 18 apartments and says it already has 12 to sell at its next auction on December 10.
    Mmmm... 60 sold by auction.

    Records showed only 5 sold in "Auction" and 3 before Auction, so 52 sold in post auction negotiation ?

    If this is an example of the rest of the comments I think you will find this article more fiction than fact.

  9. #9
    Join Date
    May 2008
    Location
    Torbay, Auckland
    Posts
    3,859

    Default

    Quote Originally Posted by Viking View Post
    Had plenty to say about that. go back and have read.
    When unemployment rises, as it will next year due to the recession, demand for housing declines.

    The tail off in House Building will match this on the supply side.

    What we all need to watch for are:

    1. A jump in Immigration
    2. The NZ economy rising from the ashes

  10. #10
    Join Date
    May 2008
    Location
    Torbay, Auckland
    Posts
    3,859

    Default

    Quote Originally Posted by Viking View Post
    Property

    RSS Email Print ShareThis
    Agency auctions 79 properties in one of busiest weeks yet

    4:00AM Wednesday Nov 26, 2008
    By Anne Gibson


    Auckland's largest agency Barfoot & Thompson has had one of its busiest auction weeks.
    Managing director Peter Thompson said his firm auctioned 79 houses during three days last week and that made it an extremely busy time because the firm was auctioning just 40 places a week in the winter.
    He expected a 58 per cent clearance rate of last week's properties.
    "Just over a third were sold under the hammer and I'm just waiting to hear within the week how many places have sold subsequently," he said. "We had bids on most places - only eight houses didn't get bids."
    About 60 places were sold by auction last Wednesday at a marathon event at Barfoot's city head offices from 9.30am until 5.30pm.
    Thompson warned against selling too many places on one day, saying time was often needed for vendors and buyers to negotiate after places were passed in.
    A mass apartment auction is also being held in Auckland today.
    Apartment specialist City Sales is auctioning 18 apartments and says it already has 12 to sell at its next auction on December 10.

    http://www.landlords.co.nz/read-article.php?article_id=3359


 

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Similar Threads

  1. House building and Tax
    By propertybuyingNZ in forum Finance, legal and tax (NZ)
    Replies: 5
    Last Post: 04-10-2016, 03:20 PM
  2. Building cost for new house
    By NomoneyNotalk in forum Property Investment (NZ)
    Replies: 7
    Last Post: 16-06-2016, 11:19 AM
  3. Building a new house, resource and building consent time
    By Crookie in forum Property Investment (NZ)
    Replies: 9
    Last Post: 15-04-2016, 07:21 PM
  4. Building a new house
    By wunwinglo in forum Property Investment (NZ)
    Replies: 8
    Last Post: 20-04-2014, 08:48 AM
  5. 'Golden Autumn' continues for Auckland house sales, says Barfoots
    By muppet in forum Property Investment (NZ)
    Replies: 2
    Last Post: 04-07-2009, 02:24 AM
  6. Building slowdown confirms real estate slump
    By muppet in forum Property Investment (NZ)
    Replies: 4
    Last Post: 27-02-2008, 07:47 PM
  7. Brokers feeling pinch in house sales slowdown.
    By Letterman in forum Property Investment (NZ)
    Replies: 2
    Last Post: 13-12-2007, 12:02 PM
  8. Housing slowdown more obvious
    By cube in forum General (NZ)
    Replies: 48
    Last Post: 17-09-2007, 03:52 PM
  9. Building a house
    By duwi in forum Property Improvements (NZ)
    Replies: 4
    Last Post: 25-09-2005, 02:47 PM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •