Property developer Winton confirms IPO, raising $350m via pre-Christmas NZX and ASX listings
Winton Land has today confirmed plans for an initial public offering to raise up to $350 million by listing on the NZX and ASX and it has a $200m cornerstone shareholder and $100m further commitments.Chief executive Chris Meehan... More
Wellington house prices: New Zealand's first state home is now worth more than $1m
New Zealand's first state house, in the Wellington suburb of Miramar, is now worth more than $1 million. Wellington's rateable values (RVs) were released yesterday , updated for the first time since 2018. It showed a jump... More
Wellington house prices: Singles driven out of the property market, as values jump 60 per cent
Accelerating house prices in the capital are making it nearly impossible for single people to get on the market, says a Wellington mortgage broker. The capital's new rateable values (RVs) were released yesterday , showing more... More
Wellington house values jump 60 per cent, average land value more than doubles
The value of the average Wellington house has increased by more than 60 per cent in the past three years, and land value has more than doubled. There are now no Wellington suburbs with an average value below $1m, and a handful... More
Auckland Council again delays CV revaluation due to Covid
Auckland Council valuations have been delayed again after being told it needed to do more work on its numbers.It means city home owners will now likely have to wait until March next year to find out what their property's new CV... More
New RVs for Wellington's most expensive homes - a jump of 41pc
Wellington's new rating values are out. The city council assessed every property in the capital in September and homeowners can now check their new RV.The council is set to release the overall data that will show how much the RVs... More
Property devaluations push Radius Residential interim profit down from $2.1m to $1.3m
Newly-listed rest home specialist Radius Residential Care made $1.3 million net profit after tax in its latest half-year, down on the previous $2.1m due largely to falling revaluations. Revenue rose from $59.4m in the September... More
Asset Plus interim profit falls 78%, $350m Auckland CBD office project downsized
Listed landlord Asset Plus suffered a 78 per cent interim net profit after tax drop, from $11.5m to $2.5m and it has downsized a $350m Auckland CBD office project because of the pandemic.Investment property revaluation gains of... More
Multimillion-dollar fight over Glenorchy's Arcadia Station
An Auckland company is suing an 83-year-old for $1.5 million in default interest over the blocked purchase of his farm near Glenorchy.In March last year, The Station at Waitiri Ltd committed to buy Jim Veint's Arcadia Station at... More
Oceania Healthcare increases interim profit 22pc: Covid slows sales, Auckland construction
Listed retirement village company Oceania Healthcare made an interim underlying net profit after tax of $27.5 million, up 22 per cent on the previous $22.5m but Covid has caused disruptions, particularly in Auckland. Sales were... More
Humble home sells for twice its CV in booming Auckland market
A humble 1970s Auckland home has earned its owners close to $2 million profit in just one decade of ownership, highlighting how far prices have skyrocketed ahead of the release of new council valuations.The North Shore home on Sequoia... More
Tiny Arrowtown cottage goes for $1.85 million
An historic one-bedroom, one-bathroom Arrowtown cottage - purchased about 70 years ago for £350 - sold this week for $1.85 million.The property at 53 Buckingham St sold at a Bayleys Arrowtown auction on Tuesday, with bidding opening... More
Auckland property: Online bidding drives prices further - auctioneer
By Ella Stewart of RNZ Auckland's housing market continues to soar despite the city spending more than 100 days in lockdown whilst bidders buy houses online.Homes are being snapped up sight unseen by Kiwis desperate to return... More
13 minutes that saw Queensland woman lose everything
A Queensland woman has been left devastated after losing her dream home, and potentially her entire A$29,000 deposit, because of an alleged banking error.Dr Loretta McKinnon, a 43-year-old epidemiology academic, paid A$580,000 for... More
Vital Healthcare starts A$165m Adelaide project, signs A$260m South Australia work lately
Listed medical landlord Vital Healthcare Property Trust has released further details of a A$165m ($171.6m) Adelaide project it has begun, taking to A$260m its South Australia work announced in the past month.The business has a three-stage... More
Wellington house values could jump 50 per cent after 'dizzying' three years in the housing market
Wellington homeowners can expect to see a significant jump in the value of their homes, after a "dizzying turn" in the market over the past three years. Rateable values (RVs) are used as a rough "shorthand" for what properties... More
Canterbury renter wins at Tenancy Tribunal: Landlord jacks up the rent
A Canterbury tenant has accused his landlord of jacking up his rent by $60 a week as retaliation for winning a $1000 payout at the Tenancy Tribunal.Luke Dyer said the increase comes just four months after his tribunal win in July.The... More