Estate developer blames wind
Saturday 15 May 2004
Wellington's weather is the reason some residents of a harbourview subdivision have waited months for repairs to their new homes, the developer says.
By The LandlordFinding a leak in one property took nine months of waiting for the right southerly to turn up, says Colin Dallas, managing director of Kingdom Residential, developer of Bellevue Estate, near Newlands.
But mediation this week over one property, plus the Master Builders Federation's agreement to fix others, meant a swift end to problems that bedevilled some residents, he said.
One disgruntled Bellevue homeowner called a meeting attended by local MP Peter Dunne and more than 30 residents in March to air grievances about getting repairs to some properties.
Read More - Opens in a new window
Commenting is closed
Periods of house price decline are rare and "short-lived", says economist Tony Alexander, amid forecasts of a drop of 10%-15% this year.
The Reserve Bank says the commercial property sector is vulnerable to the Covid-19 crisis. But PMG Funds' chief executive believes that while there’ll be short-term pain, the biggest long-term impact will be structural change.
Mortgage lending fell to its lowest level on record last month as the property market ground to a halt during the Covid-19 lockdown.