Real Estate Institute of New Zealand

For the first time in 14 years, almost 10,000 houses were sold last month

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First home buyers and investors compete as a record number of homes get snapped up. Businessdesk’s Brent Melville reports. Almost 10,000 houses changed hands last month, a 29.6% increase on last November. Latest data from the Real Estate Institute of NZ showed that was the highest monthly sales in 14 years. The frantic nature of … Read more

Housing is hot – so why aren’t realtors repaying the wage subsidy?

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Real estate firms are hanging on to millions in wage subsidies despite a red-hot housing market recovery since June, reports Brent Melville of BusinessDesk. Three of the country’s leading realtors — Harcourts, Bayleys, and Barfoot & Thompson — claimed a combined $8 million in wage support for more than 1,000 employees when pandemic-induced lockdowns were … Read more

What recession? Our unstoppable housing market marches on

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New Zealand’s housing market is going ballistic, defying economic forecasts and historic trends. Michael Andrew asks the experts what’s causing the clamour and what it means long term. Six months after Covid-19 first reached our shores, New Zealand’s economy has officially moved into recession. GDP is down 12.2% – the largest drop on record – … Read more