Property tax cheats in IRD sights

The tax office is stepping up a campaign against property speculators who are not paying tax in the booming Auckland real estate market.
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Labour supporting state and rental housing

Prime Minister Helen Clark and Social Development and Employment Minister Steve Maharey today released Labour's policy for state and rental housing, and challenged the National Party to outline its policy in this area.
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20m leaky home case struck out

A multimillion-dollar claim against the former Building Industry Authority (BIA) over an Auckland apartment complex with leaky building syndrome has been struck out by the Court of Appeal.
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May 2006 Report

The following is a round up of some political and or regulatory issues monitored by the Federation.
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Falling rates maybe short-lived

Mortgage Rate Report: The euphoria of a mortgage rate war and falling rates maybe short-lived, judging by recent economic events.
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Taxman closes in on property speculators

Property speculators who are reaping millions of dollars from the super-heated housing market are about to feel the heat from a tough new crackdown.
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Rates continuing to move in the right direction

Homeloan rates are continuing to move in the right direction for anyone seeking a mortgage at the moment. But it is still too early to declare that a new mortgage war has broken out.
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Bank Direct raises two-year rate

There are signs the home loan price war being waged between three banks is coming to an end - albeit it slowly.
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Bollard holds rates, but still talks tough

As expected, Reserve Bank governor Alan Bollard left interest rates unchanged but kept his tone hawkish, highlighting his expectation that annual inflation will rise above his 3% target in coming quarters and that there's no prospect of rates falling in the foreseeable future.
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Investors look beyond property

Nearly half of property investors think prices will stagnate or fall and many are looking to diversify away from property, an industry survey shows.
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Further OCR hikes predicted

Westpac-owned BT Funds Management is predicting that there will be further hikes in the official cash rate.
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No-deposit loans a risk to parents

No-deposit mortgages enter the banking mainstream this weekend - but they could tie struggling first home buyers to their parents for life.
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Property rights eroded for property owners

Landlords property rights will be further eroded if Labour win a third term, ACT Deputy leader Dr Muriel Newman said today.
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Lack of house deposit causes dream to fade

New Zealanders' dream of owning their home is slowly fading. Four years ago, 68 per cent of us lived in our own places. But by 2016, just 61.8 per cent of the population will own a home. The reason is that the price of property is growing faster than the ability of New Zealanders to buy real estate.
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Linz dumps paperwork

Land Information New Zealand (Linz) will close its public counters reduce the number of processing centres and eliminate 112 processing jobs, as par-t of government plans to phase out paper-based land transactions.
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ARC encourages submissions on Unit Titles Act review

The review of the Unit Titles Act, which governs the management of apartments and other multi-unit property, is up for final consultation and the Auckland Regional Council is encouraging people to have their input.
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Investors reject capital gains tax

Property investors are rejecting suggestions that a capital gains tax will check soaring house prices.
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Bank loan funding costs at 10 year peak

The Good Returns mortgage rate table is awash with red this week as lenders push rates up even though there has been no change in the official cost of borrowing in New Zealand.
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Unit titles law to be reviewed

Building Issues Minister Margaret Wilson today released a discussion document reviewing the law on multi-unit dwellings and developments.
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District Court attachment orders

I have been informed by the Nelson District Court Collections unit that as of 2 May 2005 the $80 fee for attachment orders has been waived if it is sought and approved at the time of the Order for Examination.
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Our Nanny State funding home ownership education courses

Opponents of 'Nanny State' are being given fresh cause for criticism over the Government’s latest mothering, or smothering proposal.
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Bollard leaves rates unchanged and rules out an easing

Reserve Bank governor Alan Bollard has left interest rates unchanged, as expected, but is ruling out any prospect of interest rates falling.
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Finally it has happened

Well Bank of New Zealand has finally done it and increased its fixed rates this morning.
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Biggest Energy Efficiency Steps In 30 Years

New insulation requirements and moves to make it easier and cheaper to install solar water heating systems are part of major changes to the Building Code and Building Compliance Documents announced today by Prime Minister Helen Clark and Building and Construction Minister Clayton Cosgrove.
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Cautious predictions over slowing economy

Nick Churchouse reports in the Dominion Post that predictions of a slowdown in the economy are cautious as activity bolds reasonably steady despite continued global activity.
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