Oh dear, you're stuck with it
Sunday 24 October 2004
Early in the heady days of the 80s stock-market boom, enigmatic property developer Colin Reynolds had a grand vision - a New Zealand banking and finance powerhouse in the heart of Auckland.
By The LandlordIt was a time when Parnell was the place to eat, the waterfront was for fishermen and the height of fashion was wide shoulder pads, big hair and shoe-sized mobile phones pulled ostentatiously from a hand bag or leatherette brief case.
Reynolds and his ill-fated Chase Corporation spied a block of low-rise buildings surrounded by Victoria St West, Durham St West, Albert St and Queen St.
Four showy towers - today known as Qantas House, the Simpson Grierson building, Brookfields House and Durham House - linked by an awkward maze of escalators, walkways and public plazas emerged on the site.
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Auckland’s housing market saw another slump in sales volumes in May but prices are holding steady, according to the city’s largest real estate agency.
Periods of house price decline are rare and "short-lived", says economist Tony Alexander, amid forecasts of a drop of 10%-15% this year.
Mortgage lending fell to its lowest level on record last month as the property market ground to a halt during the Covid-19 lockdown.