March house sales a warning of things to come

March house sales a warning of things to come
Brent Melville
Home sales during March foreshadow the larger shock to come in the housing market as a result of the covid-19 shut down, with sales down 5 percent on the comparable numbers for March 2019. On a seasonally adjusted basis, month on month sales were 14 percent lower - largely attributed to the six days of March the country was in lock down.The latest data from the Real Estate Institute show that up to the covid-19 restrictions, which effectively pressed pause on most housing transactions, house inflation was up by 9.3 percent year-on-year to...

More Property

Vector ‘on notice’ for unfair contract terms; complainant now facing higher costs
Property

Vector ‘on notice’ for unfair contract terms; complainant now facing higher costs

A developer’s Fair Trading win against Vector feels like a loss.

Garth Bray 01 Jul 2025
Investore buys New Lynn Bunnings site for $43 million
Property

Investore buys New Lynn Bunnings site for $43 million

Investore Property has struck a deal to acquire the Bunnings complex in New Lynn, Auckland.The company told the market on Friday it had entered an unconditional agreement to acquire the property for $43 million.The 2.2-hectare site at 2–12 Titirangi Rd features an 11,000sq m buil...

Staff reporters 27 Jun 2025
Senior Trust offeror gets a serve from FMA
Property

Senior Trust offeror gets a serve from FMA

Senior Trust has been paying returns with new investor funds and borrowings.

Maria Slade 26 Jun 2025
Du Val build-to-rent properties sold, PwC says
Property

Du Val build-to-rent properties sold, PwC says

The 171 units in May Rd and McKenzie Rd were bought in 2021 for $35m.

Maria Slade 23 Jun 2025