Property Management

Leaky home stigma persists

Thousands of homeowners could see an average of $29,000-$35,000 wiped from the value of their houses due to the stigma of leaky homes, which persists even after expensive repairs, says a new report.

Wednesday, March 03rd 2004

Owners face crippling repair bills, a loss in the value of their home if they try to sell, problems with bank lending and higher insurance costs.

Massey University Master of Business Studies student Song Shi estimated a 12 to 14.6 per cent loss in market value of potentially leaky homes. This would translate into an average loss of between $28,800 and $35,040 per home.

Prendos founding director Greg O'Sullivan estimated that around 40 per cent of New Zealand's housing stock built from 1985 used monolithic cladding. About 20,000 houses were built each year. But he estimated that about 22,000 homes might be at risk.

Read More - Opens in a new window

2.1 per cent rates rise tipped for Auckland City

SBS FirstHome Combo	3.99
Unity First Home Buyer special	3.99
TSB Special	4.39
ICBC	4.39
Co-operative Bank - First Home Special	4.39
Unity Special	4.49
BNZ - Std	4.49
Co-operative Bank - Owner Occ	4.49
SBS Bank Special	4.49
Kiwibank Special	4.49
ANZ Special	4.59

ICBC	4.59
TSB Special	4.69
Wairarapa Building Society	4.79
Nelson Building Society	4.87
BNZ - Std	4.89
SBS Bank Special	4.89
Co-operative Bank - Owner Occ	4.89
Unity Special	4.89
Kiwibank Special	4.89
First Credit Union Special	4.95
AIA - Go Home Loans	4.95

ICBC	5.19
TSB Special	5.29
Westpac Special	5.59
ASB Bank	5.69
BNZ - Std	5.69
SBS Bank Special	5.69
Co-operative Bank - Owner Occ	5.69
Kainga Ora	5.69
AIA - Go Home Loans	5.69
Kiwibank Special	5.79
China Construction Bank	5.99

SBS FirstHome Combo	3.29
AIA - Back My Build	3.34
SBS Construction lending for FHB	3.74
CFML 321 Loans	3.95
Co-operative Bank - Owner Occ	4.99
Co-operative Bank - Standard	4.99
Heartland Bank - Online	5.30
ICBC	5.39
Kiwibank - Offset	5.65
Kiwibank	5.75
Unity Standard	5.79

Property Management

Leaky home stigma persists

Next Article

Most Read

Top Mortgage Rates

More Stories

RBNZ expects slower house price growth in the current recovery

Queenstown not off the radar for first home buyers

Record levels of first home buyers taking out low deposit loans

Buyers sitting on the sidelines in best time to buy in a decade