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20 November 2008 Rights of way covered by Earthquake Commission In a decision delivered on 7 November 2008, the High Court has ruled that the Earthquake Commission must pay compensation to a couple whose right of way access over a neighbour's property was damaged in a natural disaster. Read More »
19 November 2008 Slump is worst on record According to The Press' Liz McDonald, New Zealand's current housing sales slump is the worst on record, with Christchurch particularly hard hit by price falls, with more pain forecast for sellers and real-estate agents. Read More »
17 November 2008 Property values down another 1% QV's October statistics for the residential property market report a 6.8% decline in national property values over the past year (calculated over the three months ending October 2008 in comparison to the same period last year), down on the 5.8% decline reported in September. The average New Zealand sale price for October remained steady at $379,290. Read More »
12 November 2008 Mortgagee listings surge to new record and rental listings jump Mortgagee listings on realestate.co.nz and trademe.co.nz surged 10.6% to a record 489 in the week to November 10 from the previous week, and are up 25.1% from a month ago, the interest.co.nz weekly survey has found. Read More »
10 November 2008 Challenge to leaky homes ruling According to the NZ Herald's Anne Gibson, the Attorney-General is challenging a court ruling which backed a council plea for the Government to take some share of the blame for the leaky building disaster when it ruled that ruled the Government was responsible for the issue because it reviewed councils. Read More »
7 November 2008 Unwilling buyers face court action from Whisper Cove receiver Anne Gibson of the NZ Herald reports that receivers of a $250 million failed housing project at Snells Beach north of Auckland are taking court action against reluctant buyers who are attempting to escape from deals to buy into the seaside settlement. Read More »
6 November 2008 Value falls on coastal properties Fears of coastal erosion are plaguing the upmarket Napier suburbs of Westshore and Ahuriri, with property values slumping by 12 per cent in three years, reports Bernard Carpinter in the Dominion Post. Read More »
5 November 2008 Mortgagee sales the last resort says SBS chief executive According to Jared Morgan in yesterday's Southland Times, a mortgagee sale would be a last-resort option for the Southland Building Society as the slowing economy placed greater financial pressures on homeowners. Read More »
4 November 2008 Banks Peninsula finally gets District Plan After years of wrangling, bad decisions and no decisions, Banks Peninsula finally has a district plan, but some fear what it will mean for the area, John McCrone of The Press reports. Read More »
4 November 2008 Land covenants and successors in title At a recent NZLS seminar on easements and covenants, a query was raised as to whether the words "inter partes" in section 90F of the Land Transfer Act 1952 ("LTA") mean that a land covenant created by easement instrument under s307 of the Property Law Act 2007 ("PLA") binds only the original parties and therefore does not bind successors in title. Thomas Gibbons, a partner at McCaw Lewis Chapman in Hamilton, and one of the co-presenters of that seminar, followed up that query in LawTalk issue 719. Read More »
30 October 2008 Real estate company fined for misleading 'buyer enquiry over' ads The Commerce Commission yesterday released a statement after a Wellington real estate company, Celestine Realty Limited, was fined $7,500 in the Wellington District Court for breaches of the Fair Trading Act 1986 in relation to the use of the term ‘buyer enquiry over'. Read More »
30 October 2008 Builders seek retrospective consent Owners of a partially constructed house, who purchased land from developer Checkford Investments Ltd, have admitted breaching building consent conditions by not screening a house under construction, and have applied for retropective consent, reports Rosie Manins in the Otago Daily Times. Read More »
30 October 2008 Building and Housing Trends: April to June 2008 The Department of Building and Housing has recently released its Building and Housing Trends publication for April to June 2008. In its "stop press" section, the department states that "trends that were evident in the June 2008 quarter have strengthened during July and August. In particular, the housing market has continued to slow, residential building consent activity has continued to reduce, and rental market conditions are more relaxed." Read More »
29 October 2008 Investors fear credit crunch Property investors attending the Property Investors' Federation annual conference are predicting the end for finance companies, reports John Hartevelt of The Press. Read More »
28 October 2008 Water tower owner can only access home by helicopter or plane A first time buyer who paid £30,000 for a disused Ministry of Defence water tower to convert it into a dream home has found he can only legally access it by plane or helicopter, reports Nick Britten in the UK's Daily Telegraph. Read More »
22 October 2008 $14,000 first-home buyer grant likely to lure more Kiwis to Australia Kiwis will have yet another reason to move across the Tasman following last week's announcement by the Australian Government of an increase in the grant for first-home buyers from $7,000 to A$14,000 (NZ$15,925), reports Beck Vass in the New Zealand Herald. Read More »
21 October 2008 American Home Prices Nowhere Near Bottom The New York Times reports that, despite the US government’s move to bolster the banking industry, home loan rates rose again last week, reflecting concern that the Treasury will borrow heavily to finance the rescue. Read More »
20 October 2008 Property tide exposes loose lenders Some New Zealand banks are more likely to suffer significant losses on home loan defaults than their Australian counterparts because of the looser lending polices adopted on this side of the Tasman, reports the Sunday Star Times. Read More »
15 October 2008 New Labour policy proposes building houses on public land Emily Watt reports that a Labour-led government would let low-income people build houses on Crown land in a bid to improve housing affordability. Read More »
7 October 2008 House prices 'to keep falling until March' In today's NZ Herald, Andrew Koubaridis reports that house prices are expected to hit bottom in March, and could fall to as much as 25 per cent down on boom levels, if Treasury's pre-election report is anything to go by. Read More »
7 October 2008 House owner on allegedly sacred land refuses to budge The only person to build on a plush Taupo lakeshore development bordering a Maori burial site says he will never move and has a legitimate title to the section, according to Mike Watson in today's Dominion Post. Read More »
3 October 2008 Mixed signals in the property market QV's August statistics for the residential property market report a 4.5% decline in national property values over the past year (calculated over the three months ending August 2008 in comparison to the same period last year), down on the 2.2% decline reported in July. Read More »
3 October 2008 House scheme opens door for newlyweds Young Auckland newlyweds Jason and Jemima Steel are about to become one of the first couples to buy a house under the government's new shared equity pilot scheme, reports Emma Page in the Sunday Star Times (28/09/2008). Read More »
23 September 2008 Real Estate Agents Act 2008 This Act received the royal assent on 19 September 2008, and replaces the Real Estate Agents Act 1976. Read More »
16 September 2008 One dollar reserve on Waitara property A Waitara property is going under the hammer with just a $1 reserve, reports Jayne Hulbert in the Taranaki Daily News. Read More »
15 September 2008 Farm confiscated following marijuana conviction The independent police watchdog is investigating the arrest of a man whose farm was seized under the Proceeds of Crime Act, after claims of corrupt police conduct, reports Emily Watt in today's Dominion Post. Read More »
9 September 2008 Council says deck has to go A council rule requiring a group of Hamilton riverside residents to rip out decks, fences, and outdoor fireplaces has been labelled "ludicrous", reports Warwick Rasmussen in the Waikato Times. Read More »
5 September 2008 Code of Practice for Home Equity Release Schemes The Safe Home Equity Release Plans Association, SHERPA, has welcomed the release of the government’s voluntary Code of Practice for reverse mortgage products. Read More »
5 September 2008 New Real Estate Agents Act The new Act replaces the Real Estate Agents Act 1976, and introduces a new regulatory framework for the real estate industry that aims to promote and protect the interests of consumers in real estate transactions by raising industry standards, improving licensing requirements and licensing procedures, providing mandatory disclosure obligations, and providing accountability through an independent, transparent and effective disciplinary process. Read More »
5 September 2008 Lawyers are urged to caution their intending retirement village clients Speaking at the ADLS Retirement Villages seminar, Vlatkovich & McGowan principal, Nola McGowan said that there was a trend towards people entering retirement villages from a younger age, and warned that exiting retirement villages is not easy. Read More »
5 September 2008 Unit Titles Bill still before Parliament The Bill is currently on the Parliamentary Order Paper awaiting its first reading after its introduction to the House by Building and Construction Minister Shane Jones. In a recent ADLS article, Mr Jones is said to have described the current law as archaic and out of touch with modern property development. Read More »
4 September 2008 Family demolishes rather than fixes home The NZPA reports that a large 1980s house in the Auckland suburb of Lynfield with many defects and faults - including leaks - is being demolished by its owners, who say it is easier to start again than fix it. Read More »
3 September 2008 Who would be a real estate agent in this market? Despite media reports suggesting real estate agents are leaving the industry in “droves,” real estate agencies are still recruiting, with hundreds of job openings around the country, including Auckland, according to a Bayleys press release. Read More »
3 September 2008 Locals knew cliffs were unsafe Five Bucklands Beach properties have been evacuated after a major slip over the weekend, reports Neil Duddy in the Eastern Courier. Read More »
28 August 2008 Housing affordability takes toll on nation - but gap between rich and poor appears to be closing Housing affordability has worsened and fewer people are studying at tertiary level, according to a new report on the nation's social wellbeing, report Lane Nichols and Michael Fox of Fairfax Media. Read More »
20 August 2008 Glimmer of hope shines on housing market Price expectations in the New Zealand housing market have continued their downward slide, according to the latest ASB Housing Confidence Survey. Read More »
14 August 2008 Mayor hails $3m arena grant Mayor Jenny Brash says Porirua's $17.5 million Te Rauparaha Arena has been given a $3 million lottery windfall that will ease the burden on ratepayers, reports Matt Calman in today's Dominion Post. Read More »
14 August 2008 $170m blowout if Transmission Gully works hit snag Transmission Gully would take almost eight years to build - and the project could blow out to more than $170 million over budget - but support for it appears to be growing reports Kerry Williamson in today's Dominion Post. Read More »
12 August 2008 Real estate scam details exposed One of the country's most elaborate property scams was laid before an official inquiry yesterday when the Real Estate Institute aired details of a mortgage-ramping scheme, reports Anne Gibson in the New Zealand Herald. Read More »
11 August 2008 Property values continue to decline QV's July statistics for the residential property market report a 2.2% decline in national property values over the past year (calculated over the three months ending July 2008 in comparison to the same period last year), down on the 0.1% growth reported in June. The average New Zealand sale price stayed steady at $393,370. Read More »
6 August 2008 Apartment buyers forfeit deposits Apartment buyers in the country's tallest new luxury high-rise are failing to settle deals on their units, forfeiting thousands of dollars in deposits because they cannot afford the new units they had contracted to buy reports Anne Gibson in today's New Zealand Herald. Read More »
4 August 2008 Devastating tide of mud Thunderous downpours have caused at least 20 big slips around Wellington, blocking roads, burying parked cars and forcing residents from their homes, reports Britton Broun in today's Dominion Post. Read More »
30 July 2008 Supreme Court grants real estate company leave to appeal Nigel Marple, NZPA reports that the Supreme Court has granted leave to an Auckland real estate company to appeal a Court of Appeal decision which ordered it to pay $225,000 to an Auckland couple over the sale of their cliff-top home on the North Shore. Read More »
28 July 2008 Councils found liable for LIMs Chris Hutchings, National Business Review, reports that the High Court has for the first time held a district council liable for the information on its land information memorandum. The ruling, which may yet be appealed, has significant implications for councils around the country and for insurers. Read More »
23 July 2008 Renting cheaper than home ownership Rents have dipped in four main centres, and risen in others. Renting is now two and a half times cheaper than buying a home and the best rental deals are in Christchurch, where rents are dropping, says John Hartevelt in The Christchurch Press. Read More »
18 July 2008 Supreme Court refuses leave to appeal The Supreme Court has refused developer Big River Paradise Ltd leave to appeal against a Court of Appeal decision, upholding a decision of the High Court, that a subdivision proposed by Big River Paradise Ltd would breach a restrictive covenant in favour of a neighbouring property owner. Read More »
16 July 2008 Most homes selling below rateable value More than half the houses sold in the Wellington region in the past three months sold for below their rateable value, while the average sale price for the region rose from $436,635 in May to $456,035 in June, according to QV Valuations. Read More »
12 July 2008 Discount homes for sale! Real estate sales figures issued yesterday show not only are fewer houses selling, but for the first time significant price drops in Wellington, Manawatu, Wanganui and Auckland, reports the Dominion Post. Read More »
10 July 2008 Election year rethink on affordable homes The Government is considering new ways to help families on low incomes buy a home, by having the state retain ownership of the land the houses sit on, reports Vernon Small in the Dominion Post Read More »
8 July 2008 How to pay off your mortgage quickly It'll only cost you a latte a day, says Tina Law in today's Dominion Post. Read More »

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