Housing hold ups
Sunday 19 September 2004
Pressure on Auckland's building industry is holding back state housing while people remain stuck on waiting lists.
By The LandlordNearly a year after Housing New Zealand started work on 10 new homes in Mt Roskill, it admits progress is slower than it should be.
HNZ has removed four older houses at 1414-1420 Dominion Rd to make way for six three-bedroom homes and four two-bedroom homes.
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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.