Real estate, car sales hit by storms, 'worst since covid'

Real estate, car sales hit by storms, 'worst since covid'
The perfect storm: weather, economy and government intervention. (Image: Getty)
Brent Melville
Flooding and Cyclone Gabrielle put the brakes on both vehicle and housing sales last month, sparking references to a "perfect storm" by dealers in both markets.Last month, new car registrations were down 23.7% year-on-year at 2,960 units, the lowest sales figures for any month of February in nine years.Combined with the impact of government 'clean car' taxes on heavier vehicles, sales of commercial vehicles were down almost a third, at 1,574 units, compared to last February. Motor Industry Association (MIA) chief executiv...

More Property

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