Property News | propertynoise.co.nz

Private house sales are taking a hit as prices flatten in the Auckland property market.

The proportion of Auckland homes listed for private sale on Trade Me dropped from 4.6 per cent in September 2015 to 3.3 per cent for the same month this year.

However, there are still a number of Aucklanders willing to bypass professional agents after being burnt in the past.

Auckland resident Christine Primrose has decided to sell her Titirangi home privately.

READ MORE:
* Predictions real estate agents will drop out as house sales plummet
* NZ’s real estate sales model needs a shakeup
* Hamilton real estate agency fined $1 million for price fixing
* Sales drop around New Zealand, Real Estate Institute data shows

READ MORE VIA STUFF

Get right up to speed with what has been happening in the NZ property market as our Head of Research, Nick Goodall takes you through the latest trends in our most recent video.

New Zealand may be about to see the biggest change of economic direction since the reforms that started 33 years back in 1984.

The signals from incoming Prime Minister Jacinda Ardern and her deputy Winston Peters were immediate.

There will be a sea change to the government’s role in the economy starting with a big state intervention in the housing market with Peters referencing Labour’s Kiwibuild policy which would see 100,000 affordable houses built and on-sold over 10 years.

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Households are being caught out by the fine print in insurance contracts that can leave them without cover if their houses are unoccupied for a period of time.

Insurance and Financial Services Ombudsman Karen Stevens’ office has received complaints from people who have had their claims turned down because their properties were not occupied.

She said most insurance policies had a 60-day rule: Anyone who was away for longer than that would find their cover no longer applied. But most people were unaware of that condition, she said.

“When you’re not going to be in the house for a period of time, you need to let your insurer know.”

READ MORE:
* Rob Stock: Learning from obese woman’s tragic insurance mistake
* ‘Comprehensive’ policy did not cover cancelled trip’s flights
* Insurance complaints continue to rise

READ MORE VIA STUFF