The government-owned companies Fannie Mae and Freddie Mac is moving ahead with their plans to scale back their financing of apartment-building loans sometime next year, recoiling what opponents describe as a significant support for rental housing.
Fresh figures by the Real Estate Institute today revealed that the number of farms sold for the three months to the end of October compared to the same time last year were 93 more in number.
This indicates an increase of just over 36 per cent.
Kingsland is Auckland's fastest-selling suburb even though houses in nearby Mt Albert are 17 per cent cheaper.
People who want to pay less interest and shear years off their mortgages are now being advised to buy homes in "hidden-gem" suburbs.
The data released by The Real Estate Institute of New Zealand today revealed a rise in the median price for Central Otago/Lakes district by 19.5% ($79,173) in the past year. This is the highest increase in median price in New Zealand and Dunedin house prices are up by 10%, the latest figures show.
Prices increased by 10.4% in Dunedin, but fell in North and South Otago.
Housing Minister Nick Smith has announced new community social housing projects in Wellington, Tauranga and Hamilton. He has expressed the desire of the Government to provide more such affordable housing facilities for the low income and disabled New Zealanders.
The Auditor General Lyn Provost has given a mixed report to the EQC's performance on dealing with homeowners who were affected by the Canterbury earthquakes.
According to her the programme managed to control costs reasonably well but however did not deal with the homeowners efficiently.
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