Mitre 10 housing estate

  • Houses could one day sit on the site of the Petone Mitre 10.

Hutt City Council planners are looking at the future of a block of land that includes Petone Mitre 10, Fairfax’s printing press and Imperial Tobacco, tentatively called the North Park Village

City fathers have grappled with how to boost its population since the 1980s when major employers such as Ford and Gear Meat closed.

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NICHOLAS BOYACK

The council has its eye on Petone Mitre 10 as a potential site for housing.

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Hearings begin for $1.8bn Auckland road

  • Truckies, greenies and Nimbys get the chance to have a say on a major road through Auckland’s industrial belt when a board of inquiry starts tomorrow.

The east-west link, a new four-lane road connecting State Highway 1 at Sylvia Park to State Highway 16 at Onehunga, is costed at between $1.25 billion and $1.85b.

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Death of the malls?

  • Suburban shopping malls aren’t dead but it’s not hard to kill them off, retail experts say.

Fears of ghost malls has been raised again with news that two more tenants, McDonald’s and OPSM, are joining the string of tenants to leave Wellington’s Johnsonville Mall.

Other malls around the Wellington region are also experiencing fluctuating fortunes, ranging from being a little tired to severe decline, in the case of Wainuiomata mall.

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MAARTEN HOLL/FAIRFAX NZ

Chris Wilkinson: ”When they talk about these malls closing in the States, this is exactly what we’re talking about here”

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GOLD Coast homeowners have chalked up more than $490 million in profits in just three months.

Figures released today reveal nine out of ten sellers made a profit when they sold their property during the March quarter.

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The CoreLogic Pain and Gain March report revealed the median hold period on the Coast was eight years while the median profit was $116,000 — up $6000 over six months.

Last year, almost 16 per cent of Gold Coast homeowners were selling at a loss, but the latest report revealed that figure dropped to 9.9 per cent.

The CoreLogic Pain and Gain March report revealed the median hold period on the Gold Coast was eight years while the median profit was $116,000.

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‘Never underestimate the power of paint’: The COLOUR that can add thousands to the value of your home is revealed, as renovation expert reveals the tones that are on trend right now

It’s no secret that a lick of paint can do wonders for sprucing up a tired abode, but according to research the colour of your walls could do more than just make your home easier on the eyes.

According to estate agent, Zillow, homes that use different shades of the same colour sell for far more than those with pristine white walls.

Read more: http://www.dailymail.co.uk/femail/article-4631714/Colour-add-thousands-value-home.html#ixzz4kzBRVCZX
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What first home buyers need to know

  • With house prices finally plateauing and dropping in some areas, research company Canstar has outlined what would-be first home buyers should consider before putting a foot on the elusive property ladder.

The retail and business finance research company is urging first home buyers to make sure they are properly prepared before they try to enter the market.

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With house prices finally plateauing and dropping in some areas, research company Canstar has outlined what would-be first home buyers should be aware of. Photo / 123RF

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At my place: Westside actress Sophie Hambleton

  • Kiwi actress Sophie Hambleton lives in a bright, tranquil home in Morningside, Auckland which she shares with a good friend and a small child.

You may know her as the hilarious hairdresser Carol from Outrageous Fortune‘s hit prequel, Westside.

Her worldly possessions are on the minimal side but what she doesn’t physically own, she makes up for in good times.

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LAWRENCE SMITH/FAIRFAX NZ

Wine and ‘pillow kingdom’ go together for after work relaxation for this busy actress.

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First-time house buyers worst hit as house sales fall by 30%

  • New figures reveal scale of slump in the property market.

House sales in Auckland have slumped by almost 30 per cent over the past year as tighter lending conditions take their toll on both first-home hunters and cash-starved investors.

The latest round of loan-to-value ratio (LVR) restrictions from the Reserve Bank are affecting investors, but banks have also tightened lending criteria – making it harder for all borrowers to get finance.

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The Reserve Bank said its loan-to-value ratio restrictions are helping to cool the Auckland housing market. Photo / Michael Craig

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Don Ha Business Connect Show 14

Don Ha Business Connect – 14th TV Episode!

Don Ha presents Don Ha Business Connect – a show connecting people, property and business. Don discusses recent changes in the Auckland and New Zealand property market, property financing as an important factor in the market, and interviews special guests each episode.

Published on Jun 22, 2017

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Price rises hit soft spot

You may be surprised to hear that house prices are still rising across New Zealand.

According to the Real Estate Institute – a member organisation for real estate agents – national median house prices increased 6.7 per cent to $540,000 in the year to May 2017. Seasonally adjusted, this increase is 6.2 per cent.

The institute’s CEO, Bindi Norwell, says: “May’s housing activity clearly shows continued buoyant activity across a number of regions which contrasts with the continuing stability of the Auckland region.”

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According to the Real Estate Institute, national median house prices increased 6.7 per cent to $540,000 in the year to May 2017. Photo / 123RF

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Work harder to sell

  • Aucklanders expect their homes will sell fast. Often this is the case. But the market has slowed over the past few months and some properties do sit unsold for longer than their owners might like.

Auction clearance rates in May were 36 per cent for Barfoot & Thompson and 37 per cent for Bayleys, which means some houses aren’t selling. A proportion, of course, will sell by negotiation post auction.

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Some properties do sit unsold for longer than their owners might like. Photo / Supplied

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Maccas to quit Johnsonville Mall

  • The future of the Johnsonville Shopping Centre is looking more uncertain than ever with the exit of two major retailers.

Optometrist chain OPSM this week vacated the increasingly empty mall in the northern Wellington suburb, and McDonald’s has confirmed it will  close in less than three months.

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MIKE BLAKE/REUTERS

McDonald’s NZ has confirmed it will leave the Johnsonville Shopping Centre in September. (File photo)

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Two agents may not be better

  • Q: We’re planning to put our house on the market in spring. Is it best to use one agency to sell the property, or will we get a better result with multiple agency representation?

A: “Many hands make light work”. “The more the merrier”. “Two heads are better than one”. There are many old adages that support the idea of using more than one real estate agent or agency to market and sell a property.

It has become less common to see properties festooned with a variety of “for sale” signs, but whether you choose to work with one agency or several is all a matter of personal choice. Either way, there are a few important things to bear in mind.

Both options require the signing of a legal contract between you and the agency involved.

READ MORE:
Kevin Lampen-Smith: What you need to know about agents
Kevin Lampen-Smith: What you need to know before bidding at auction
Kevin Lampen-Smith: Don’t rely only on supplied building reports

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123RF

In theory, listing with more agents means the property will be seen by a larger number of potential buyers.

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CoreLogic Monthly Property & Economic Update for June 2017

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Relief at last for Grenfell Tower families as they are rehoused in $4bn luxury block in Kensington after authorities buy up 68 flats

Around 250 homeless and beleaguered survivors of the devastating Grenfell Tower fire will be rehoused permanently inside a £2billion luxury Kensington development, it was revealed today.

The 68 one, two and three bedroom properties have been bought for just £10million and will provide refuge for families who lost everything in the blaze that killed 79 people a week ago.

Apartments in the Kensington Row development are currently on the market for between £1.5million and £8.5 million. The flats have been bought by the Corporation of London, which will run them as part of its social housing stock.

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The development has over 500 apartments, of which the government has bought up 68 for those displaced by the fire

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Masala-linked properties sell for millions at auction

  • Three properties linked to the embattled Masala restaurant group have been sold for a combined $7.88 million.

The properties were among 34 sites with links to Auckland’s Masala Indian restaurant chain that were frozen by police during an investigation for alleged tax evasion and immigration-related offending.

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A property in Stanmore Bay was one of three linked to Masala which sold at auction today. Photo / Supplied

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Reserve Bank holds OCR at 1.75 per cent

  • Reserve Bank governor Graeme Wheeler kept the official cash rate at 1.75 per cent and will look through a recent pick-up in inflation which is seen as being a temporary spike in the tradables sector while complaining about the currency’s strength over the past month. The kiwi gained.

“The increase in headline inflation in the March quarter was mainly due to higher tradables inflation, particularly petrol and food prices,” Wheeler said in a statement. “These effects are temporary and may lead to some variability in headline inflation.”

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Reserve Bank Governor Graeme Wheeler. Photo / Mark Mitchell

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The best city to be a renter

  • West Auckland mother-of-two Amy Connolly’s $20-per-week rent increase last month has sparked a search for a new place to live.

She works full-time as a client administrator and pays $530 a week for a three-bedroom house. “I simply cannot afford it anymore. I would not be able to pay my rent if it was to go up any more.”

She said it was tough to find another place because many houses were let before they were even advertised.

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123RF

Tenants competing for properties are dealing with bigger increases in some parts of the country than in others.

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Celebrity sale: Ashton Kutcher and Mila Kunis buy a beach house

Mila Kunis and Ashton Kutcher have just purchased an oceanfront home: a six-bedroom, six-bathroom, beach house in Carpinteria.

Just a couple hours’ drive from their main residence in Beverly Hills, their new home is set behind gates on a private drive and the ocean is front and centre from every point in the house.

Designed and decorated in classic California coastal style, the light and bright home is a picture-perfect beach property.

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TRULIA

Ashton Kutcher and Mila Kunis have purchased a two-house beachfront compound near Santa Barbara.

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