(Updates with further details from par 8) By Jenny Ruth May 20 (BusinessDesk) - Kiwi Property Group says annual net profit rose 15 percent, driven mainly by the rising values of its properties. Kiwi’s net profit for the year ended March rose to $138.1 million from $120.1...

By Jenny Ruth May 16 (BusinessDesk) - Goodman Property Trust’s manager is pocketing an $8.6 million performance fee for the year ended March, the first time Goodman NZ has earned a performance fee in 10 years. That suggests the trust has performed particularly well for inve...

By Jenny Ruth May 15 (BusinessDesk) - Goodman Property Trust lifted annual statutory net profit 64.7 percent, boosted by big valuation gains and as its manager sold assets and developed new ones to create a pure Auckland industrial property portfolio. Net profit attributabl...

(Updates with comment and further details from 4th par) By Jenny Ruth May 14 (BusinessDesk) - The decline in Auckland house prices is starting to accelerate as the number of house sales plummet, not just in Auckland but in most parts of the country. The latest Real Estat...

By Gavin Evans May 14 (BusinessDesk) - Rural Equities, the farming group majority-owned by the Cushing family, has agreed to sell its second-largest property as it rejigs its portfolio. Puketotara, a beef and sheep finishing operation near Huntly, covers 1,146 hectares and...

(Updates throughout to add further comments from Synlait and from the Court of Appeal judgment.) By Jenny Ruth May 10 (BusinessDesk) - Synlait Milk says it is confident it can find a solution to the ownership problem now afflicting most of the land on which its new Pokeno f...

By Pattrick Smellie May 9 (BusinessDesk) - Prime Minister Jacinda Ardern added further weight to speculation that the government is preparing to shift the goalposts on its KiwiBuild initiative to build 100,000 affordable homes within 10 years. Speaking at the Just Transitio...

(Removes hold in headline) By Jenny Ruth May 8 (BusinessDesk) - Property for Industry’s shareholders have overwhelmingly approved substantial increases and changes in the structure of directors’ fees at the annual meeting. Shareholders owning nearly 99 percent of shares...

By Paul McBeth May 7 (BusinessDesk) - KiwiSaver is the country's favourite investment asset class, closely followed by an old-fashioned savings account, although Kiwis still largely see residential property as the way to get ahead.  Kiwi Wealth's inaugural State of the Inve...

By Jenny Ruth May 6 (BusinessDesk) - Goodman Property Trust’s manager says that it won’t be adopting new NZX rules for managed investment schemes but will remain subject to the rules applying to most other equity securities. That leaves the manager of the only other NZX-lis...

By Gavin Evans May 3 (BusinessDesk) - Miner OceanaGold has had its bid to buy land for a new tailings dam near its Waihi mine turned down by the government. The ASX-listed firm, New Zealand’s biggest gold miner, is mostly owned by US and UK investors and needed Overseas Inv...

By Jenny Ruth May 3 (BusinessDesk) - The New Zealand dollar firmed slightly after further bad news about Australia’s housing market but ended down on the week as investors bet on the chance of a rate cut. The kiwi was trading at 66.22 US cents at 5pm in Wellington from 66.1...

(Fixes incorrect percentage change for actual building consents in 10th paragraph) By Rebecca Howard May 2 (BusinessDesk) - Overseas buyer activity fell off a cliff in the first quarter of the year after restrictions to bar foreigners from snapping up existing homes took ho...

By Paul McBeth May 2 (BusinessDesk) - Auckland realtor Barfoot & Thompson says activity slowed last month in the country's biggest city due to the Easter and Anzac Day holidays, although sale prices were largely flat.  The city's biggest realtor sold 667 properties in April...