News

Tenancy Tribunal award $4000 over mouse-ridden Coatesville rental

Tenancy Tribunal award $4000 over mouse-ridden Coatesville rental

Tenants living in a mice-infested West Auckland hovel where rodent droppings let off a bad smell every time the oven was turned on have won a $4000 payout.

Tenants Hamish Fowler and Curtis Messina took photos to their Tenancy Tribunal…

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Rat-infested flat and a rotten deck: Tenant awarded $12,000

Rat-infested flat and a rotten deck: Tenant awarded $12,000

A tenant who had to clean up the mess of nesting rats in her rental property and couldn't use her unsafe, rotten deck, has been awarded $12,000.

Janine Reichert had moved into a beachfront Karaka Bay property in January 2018.

But,…

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Big leasing deals push up Precinct revenue, net profit more than doubles

Big leasing deals push up Precinct revenue, net profit more than doubles

Listed landlord Precinct Properties has pushed up revenue and more than doubled net profit after tax following leasing successes in its first half-year.

Chief executive Scott Pritchard chief described how revenue rose from $64.6m…

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Fletcher Building net profit drops by $7m to $82m 'in line with expectations'

Fletcher Building net profit drops by $7m to $82m 'in line with expectations'

Fletcher Building made $82 million net profit after tax for the latest half-year, down on the $89m it made previously, but chief executive Ross Taylor said the outcome was in line with the company's expectations and those set at the…

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Westpac economists tip house prices to grow by 10 per cent

Westpac economists tip house prices to grow by 10 per cent

House prices are being tipped to grow by as much as 10 per cent this year and put questions of affordability firmly back in the election spotlight.

It comes as Auckland prices and house sales leapt to highs not seen in the month…

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How five of our biggest shopping centres performed: Westfields results out

How five of our biggest shopping centres performed: Westfields results out

Retailers in New Zealand's biggest group of shopping centres got nearly 40 million customer visits in the year December 31, 2019.

Scentre Group, which owns 51 per cent of five New Zealand malls in a venture with Singapore's GIC,…

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Coronavirus: 'Bored' Chinese in lockdown hunt online for NZ boltholes

Coronavirus: 'Bored' Chinese in lockdown hunt online for NZ boltholes

The coronavirus outbreak is prompting Chinese to investigate buying New Zealand properties as boltholes, according to a Chinese website, despite this country's foreign buyer ban.

Georg Chmiel, executive chairman of Juwai IQI, said:…

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New Auckland business Real Estate Together says buyers can get into property from $50k

New Auckland business Real Estate Together says buyers can get into property from $50k

Auckland house prices might be eye-wateringly high, but that is not stopping millennials and retirees getting a foot on the property ladder for as little as $50,000.

That's according to Martin Dunn, managing director of real estate…

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Westpac revises house price rise forecast, anticipates 10% growth

Westpac revises house price rise forecast, anticipates 10% growth

Residential rents are rising, mortgage interest rates are sinking and house prices have just been forecast to rise more steeply this year than originally expected.

Dominick Stephens, Westpac chief economist, today also revised his…

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House price increases break new yearly records, regions most affected

House price increases break new yearly records, regions most affected

By RNZ The Real Estate Institute's house price index - which measures the changing value of property in the market - rose 7 per cent in the year to January to a record high of 2922.

The volume of sales in Auckland rose 9.7 per…

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New strategy sees Property for Industry profit jump

New strategy sees Property for Industry profit jump

A refined focus on industrial property is paying off for Property for Industry, lifting annual profit 60 per cent in the first year of a refreshed strategy.

The property investor reported a net profit of $176.3 million in calendar…

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US billionaire  Julian Robertson seeks consent for Waiheke Island lodge

US billionaire Julian Robertson seeks consent for Waiheke Island lodge

US billionaire Julian Robertson's plans for a luxury lodge on Auckland's Waiheke Island are being assessed by Auckland Council after his representatives applied for resource consent before Christmas.

The application was lodged just…

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Amazon founder Jeff Bezos buys most expensive home in California

Amazon founder Jeff Bezos buys most expensive home in California

He's the world's richest man – so it's only fitting he now owns California's most expensive home.

Earlier this month, the New York Post reported Amazon founder Jeff Bezos was house hunting with girlfriend Lauren Sanchez, with the…

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Multi-million-dollar slice of South Island paradise up for sale

Multi-million-dollar slice of South Island paradise up for sale

A stunning strip of coastal South Island land filled with forests, beaches and spectacular limestone cliffs is up for sale for $22.5 million.

The eventual buyer will take-over 330 hectares of west cost peninsula land close to Golden…

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Transmission Gully cost blows out to more than $1 billion

Transmission Gully cost blows out to more than $1 billion

The cost of Transmission Gully – a four-lane, 27-kilometre motorway - may blow out to more than $1 billion after the New Zealand Transport Agency agreed to pay the contractor another $190.6 million.

Contractor Wellington Gateway…

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SkyCity's mouldy car graveyard: The hidden risk within

SkyCity's mouldy car graveyard: The hidden risk within

Mould in cars trapped beneath the fire-damaged NZ International Convention Centre in Auckland could be dangerous to people's health, a specialist has warned.

Tim Dorrington, technical manager of Papamoa Beach-based Mould Inspections,…

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Govt should drive house prices down with new tax and borrowing limits: report

Govt should drive house prices down with new tax and borrowing limits: report

New Zealand's skyrocketing house prices should be driven down by introducing a capital gains tax and stopping rich people borrowing too much money, a new paper by a leading think tank says.

The dizzying price rises had been a goldmine…

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