Migration surge puts upward pressure on rents   According to data released on Wednesday by Stats NZ, rental prices are on the rise nationwide. The “flow” measure, which includes new leases, increased by 6.2% compared to the previous year and 1% compared to the previous month in August. The inventory measure, which includes existing leases,…

Average national house price increases for first time since 2021     For the first time since late 2021, the average house price nationwide has gone up. The average cost of a New Zealand home increased by 0.5 percent in August, to $893,639. Quotable Value operations manager James Wilson told Morning Report the increase “continues…

Huge spike in Auckland CBD rental demand     Demand for Auckland CBD rental properties has skyrocketed by 900% over the past six months, one property management company says. In March an average of five potential tenants viewed each rental property, but the average had increased to 50 per viewing by August, figures from Impression…

Beach Haven Cresta Ave apartment fight: Residents win battle to stop apartment complex     Auckland Beach Haven – In a resounding victory for concerned residents, plans for an 81-unit apartment development in Beach Haven have been successfully halted. However, questions still loom over how New Zealand will address its population growth and skyrocketing housing…