Alert on coastal 'creep'
Sunday 23 May 2004
Valuable reserve land in Pauanui and Tairua is increasingly being gobbled up by neighbouring property owners applying to bend the rules on their house boundary.
By The LandlordTairua Pauanui Community Board member Malcolm Fowler is calling for a plan change, concerned at the increasing number of property owners encroaching on reserve land as property values soar in the two coastal towns.
"It seems there are more and more resource consent applications because people are paying a lot more money for land. Nobody is avoiding the process but times are changing and there appears to be an increasing number of applications for people to extend property beyond the bounds of the current allowances," he said after this month's community board meeting.
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.