Anne Gibson

1 week ago | nzherald.co.nz | Anne Gibson

House prices are continuing to fall, down $30,000 in the latest year, according to Real Estate Institute data out today. The median price for New Zealand declined by $30,000 or 1.4% to $790,000 year-on-year, REINZ said. Prices also fell or remain unchanged in 10 regions and only rose in six regions, REINZ said. It now takes a median 41 days to sell a house in this country, an increase of three days in the year to March. Auckland’s median fell 2.8% annually, to $1.04m.

1 week ago | nzherald.co.nz | Anne Gibson

“Outside of this, there are very limited powers under the Building Act that require a building’s owner to carry out work,” McCormick said. Last year, the Herald reported how Seascape’s builder China Construction won a ruling that developer Shundi Customs must pay it more than $30m. McCormick expressed hope work would resume soon. “It is unlikely that provisions under other laws, such as the Resource Management Act, would efficiently resolve the situation.

1 week ago | nzherald.co.nz | Anne Gibson

Sunset at Bayswater Marina. Photo / Michael GrawSimon and Paula Herbert’s Bayswater Marina has lost an attempt to keep the public off its North Shore breakwater after the Environment Court rejected its case. Justice Jeff Smith and two commissioners released an April 8 ruling in favour of the Auckland Council’s abatement notice issued on November 29. That requires the marina to let people back onto the breakwater, which is popular for people walking and fishing.

1 week ago | nzherald.co.nz | Anne Gibson

A prominent property developer has trimmed his lifestyle to match the slowdown in the sector. Matthew Horncastle, managing director of the Christchurch-headquartered apartment/townhouse developer Williams Corporation, no longer charters private jets from the South Island to Auckland and an 88-foot luxury superyacht is now hired out to others. The shift has come as the company’s annual new build rates have dropped 57% from 631 new homes in 2021 to 267, although it has picked up again this year.

2 weeks ago | nzherald.co.nz | Anne Gibson

During the pre-settlement inspection, the materials, finishes and appliances appeared to differ from what was advertised, she said. “They promised Boshe appliances, a high-end development but this was not the case. The valuation on the property we agreed to buy off-the-plans for $850,000 has plunged and now we can barely sell it for $600,000,” she said. The appliances were instead Midea, she said.