P house thought to be tip of the iceberg in South Otago
A Balclutha rental property is believed to be the first in South Otago to test positive for methamphetamine contamination, but commercial cleaners say it is just the tip of the iceberg.Landlord Mark Cowan, of Dunedin, was "devastated''... More
Million-dollar-plus house sales decline by 14 pct in 2017, nationwide figure pulled down by Auckland
Sales of million-dollar-plus homes dropped in 2017, according to new Real Estate Institute data.Bindi Norwell, REINZ chief executive, said Auckland was pulling down national sales because excluding that city, sales of $1m-plus places... More
Bus stop for big Upper Hutt site
A large industrial property that has been occupied by bus operators for decades is for sale in Upper Hutt offering the chance to buy a significant Wellington land holding in a high-demand market category.Tim Julian and Kieran Lennon... More
Fletcher still on track to make $680m-$720m annual earnings
Troubled NZX giant Fletcher Building says it still expects to make huge annual operating earnings of $680 million to $720m for the year to June 30, despite issues with its construction division.In an outlook released with the half-year... More
Foreigners' financial stake in NZ up 653 pct in 28 years, says lobby group
Foreign entities' investment in New Zealand rose 653 per cent in the last 28 years, according to a lobby group which opposes overseas businesses and individuals buying assets here.Bill Rosenberg of the Campaign Against Foreign Control... More
Landlords claiming thousands from former Ray White property manager David Sharma
Auckland landlords claim they are owed thousands of dollars by a property manager who ran Ray White Henderson until last month. David Sharma, whose contract with Ray White ended last month, denies owing the landlords any money.... More
Fletcher posts $322m loss in latest half-year results
Fletcher Building made an operating earnings loss of $322m in the latest half-year to December 31, 2017, a big turn-around on its previous $310m profit.An NZX announcement just out said it made revenue of $4.8b in the latest half... More
Auckland City Rail Link tender delayed after bidder pulls out
Fletcher Building will not say whether it is one of the eight parties which withdrew from Auckland's $3.4 billion City Rail Link tunnel and station bid, delayed after someone pulled out."It is not for us to comment on the CRL 3... More
City unit has Bubbles with snacks
A ground-floor Auckland CBD unit housing a laundromat and snack bar from which it earns $76,630 a year plus GST in net rent, will be auctioned next month. The unit offers its buyer a split-risk investment property, says Nicolas... More
Record tourist numbers rattle Kiwis
New Zealand is likely to start feeling the effects of "tourism fatigue" as record-breaking visitor numbers put an increasing strain on accommodation and infrastructure, says Dean Humphries, hotels national director at Colliers International.Humphries... More
'I'm f***ed': Barfoot & Thompson agent Aaron Hughes tells boss after call from Herald journalist
After a reporter phoned about a property deal in which he'd made $720,000 profit, an "agitated" Barfoot & Thompson agent Aaron John Hughes called his boss."I'm f***ed," Hughes told the firm's Papatoetoe branch manager Paul Davis.Davis,... More
Former Barfoot & Thompson agent Aaron Hughes on trial after big profit in property deal
A real estate agent abused his clients' trust and deceived them about their property's true value before buying it himself for $530,000 then on-selling it months later for $1.255 million, a court has heard.It's alleged that former... More
Whanganui firms busy with residential and commercial building work
Construction activity is on a high around New Zealand, with Whanganui firms getting a slice of the action.Jamie O'Leary, of Jamie O'Leary Builders and Stonewood Homes, said his firm is experiencing its "longest incremental high... More
City Rail Link above-ground opportunities identified
Development opportunities for up to 20ha of new Auckland CBD and fringe city floor space have been identified around the $3.4 billion City Rail Link, as the time to award the tunnelling and station contracts draws near.Images have... More
Whangarei house prices up 10% in past year, according to QV
Whangarei house prices increased 10 per cent in 12 months, the latest QV report has found. The average residential property value in Whangarei is now $509,857.The nationwide average value is now $671,531. When adjusted for inflation,... More
Scott Mason: Non-speculators caught in 5-year Bright-Line Test
Last week Revenue Minister Stuart Nash confirmed that the election "promise" to extend the Bright-Line Test from 2 years ownership to 5 years will be enacted, effective for properties acquired after the date of Royal Assent (likely... More
Millionaire real estate mogul Luis D Ortiz prefers to rent
Luis D Ortiz left Puerto Rico with his twin brother at 16 years old to make his fortune.Within a decade, the runaway teen was selling high-end real estate in New York.He became a multi-millionaire property mogul and a reality... More
Mt Maunganui apartment 'flipped' for $500k gross profit in five months
A Mount Maunganui property which sold twice within five months made a gross profit of half a million dollars for a Bay of Plenty couple.This property was one of nearly 100 in the Western Bay of Plenty that was "flipped" for profit... More
Manukau auto hub units 'drive' each other
Four commercial units, leased to three well-known vehicle service brands and located in an automotive hub in Manukau City, will be individually auctioned next month."The sale presents an opportunity to buy one, two, three or all... More
Hastings lodge has hosted royalty
The land, buildings and business encompassing a North Island exclusive luxury lodge, which once hosted the Queen Mother during a tour of New Zealand, is now for sale.Deemed a "jewel in the crown" of Hawke's Bay's tourism sector... More