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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There’s been a rallying of the market with the latest REINZ data showing both sales volumes and median house prices noticeably up with the onset of Spring.
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.
LVR speed limits continue to have a "strong effect" on investors, according to CoreLogic, after the latest Reserve Bank data showed a drop in investor borrowing.