Housing move welcomed
Thursday 20 May 2004
A plan to build affordable housing in Motueka will make home ownership a reality for more people, Tasman mayor John Hurley says.
By The LandlordMr Hurley said on Monday a plan had been discussed by the council at a workshop two months ago, to develop 70 low-cost houses in a subdivision in Motueka south.
"One of the difficulties we face is a lot of development has been on higher-value land and we have a distortion in the marketplace.
"That has meant the price of property is beyond the reach of many, so this is a genuine endeavour to meet the housing needs in the town."
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There’s no sign of a slow-down in Wellington’s property prices with Trade Me Property’s latest data showing that asking prices continue to rise solidly.
Vacancy rates in the commercial property sector are set to increase as changing economic conditions dampen demand.
Take note, investors: It is "quite possible" fixed rate mortgages have hit their lowest point in this cycle, according to economists at ASB.