A key Government working group says a combination of a global fall in interest rates, the tax system, and restrictions on the supply of land for urban use were the main cause of higher house prices across the country over the past 20 years

More houses sold at a loss for the second quarter in a row, CoreLogic’s latest Pain & Gain report shows.

The Human Rights Commission wants an immediate freeze on rent increases and an increase in the accommodation supplement because of the cost-of-living crisis.

Building work across the country is expected to  steadily drop from a high of $50.9 billion last year to $41.7 billion in five years’ time.

Giving build-to-rent developers an exemption from the Government’s tax rules removing interest costs as a tax deduction discriminates against ‘mum and dad’ investors, says the Property Investors Federation.

The first annual fall in REINZ’s House Price Index in 11 years might seem a shock, but it means house prices have only fallen to levels seen in May last year, says Kiwibank’s economics team.

Residential sales dropped 36.7% last month to 4,678 from 7,391 in July last year — the lowest for the month since 2010.

The average house value across the country has dropped below $1 million to $989,790 for the first time since September last year, QV’s House Price Index shows.

Auckland’s average weekly rent rose by $6.12 (or 1%) to $622.44 per week for the quarter ending June.

The Commerce Commission says it’s too hard, costly and slow to get new building products approved to be used in the New Zealand residential market.

Property values are falling at the fastest pace since the GFC, says CoreLogic.

A truly spectacular crash to fresh lows is being predicted for the construction industry by ANZ as building consents sank 2.3% in June compared to just 0.5% in May.

Work is underway to replace the tenancy bond service in a huge task.

A tenant who was rented an uninhabitable Swanson “smoko and social shed” as his home for a decade has been awarded $25,876 - 40% of the rent he paid over six years - after the Tenancy Tribunal found the property to be unlawful residential premises.

The total value of residential real estate across the country fell to $1.69 trillion, down from $1.73 trillion at the end of last year, with mortgages secured against 20% of that value, and the other 80% is household equity.

The ANZ bank expects house prices to now fall 15% compared to its previous expectation of 12%.