Commercial

Australians compete for NZ property

Foreign investment is down slightly, from $5.6 billion a year ago to $5.2 billion this year.

Thursday, November 04th 2004

Applications to the Overseas Investment Commission are also down: there were 87 in the September year compared with 124 in the same period last year.

The commission is also turning down more deals. Nine applications were refused in the year to September compared with six a year ago.

The commission has released its September decisions, which show the largest deal approved was by Multiplex NZ Property Fund. Its bid to buy $140 million worth of North Island supermarket and distribution properties for its new unlisted Multiplex Tasman Property Fund from Australian interests was approved. Multiplex NZ Property Fund is 49 per cent Australian-controlled, with the balance held by Malaysian interests and the Wen family owning a substantial portion.

Multiplex bought 17.2ha of land in Mangere, Lynfield, Hamilton and Grey Lynn from General Distributors, owned by Australia's Foodland Associated. The deal is part of Multiplex's purchase of 11 Countdown, Woolworths and Foodtown supermarkets and distribution centres for its new Tasman Property Fund unit trust, which also owns the ASB Bank Centre in Auckland.

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Property investors refocus on cash flow

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Wednesday, April 17th 2024

Rate cuts needed to lift mood

The enthusiasm that followed the change in government, mainly from property investors, has waned as homeowners and buyers hang out for interest rate cuts, says Kiwibank.

Monday, March 18th 2024

Support for regulation

REINZ has emphasised the need for property management regulation to Parliament’s Social Services and Community Committee.

Thursday, March 14th 2024

A better investment market

“Reinstatement of interest deductibility starting from the new tax year on 1 April brings property investors back in line with every other business in the country, where interest costs are a legitimate deductible expense," Tim Horsbrugh, New Zealand Property Investors Federation (NZPIF) executive committee member says.

Thursday, March 14th 2024

[OPINION] Recessionary times

It is not the best out there for many businesses and property sector people. Sales are down across the board, our clients’ confidence is falling, and there is a lot of uncertainty.

SBS FirstHome Combo	6.74
Heartland Bank - Online	6.89
Wairarapa Building Society	6.95
Unity	6.99
Co-operative Bank - First Home Special	7.04
ICBC	7.05
China Construction Bank	7.09
BNZ - Classic	7.24
ASB Bank	7.24
ANZ Special	7.24
TSB Special	7.24

Unity First Home Buyer special	6.45
Heartland Bank - Online	6.55
SBS Bank Special	6.69
TSB Special	6.75
Westpac Special	6.75
China Construction Bank	6.75
ICBC	6.75
AIA - Go Home Loans	6.75
ASB Bank	6.75
Unity	6.79
Co-operative Bank - Owner Occ	6.79

SBS Bank Special	6.19
ASB Bank	6.39
Westpac Special	6.39
AIA - Go Home Loans	6.39
China Construction Bank	6.40
ICBC	6.49
Kiwibank Special	6.55
BNZ - Classic	6.55
Co-operative Bank - Owner Occ	6.55
TSB Special	6.59
SBS Bank	6.79

SBS FirstHome Combo	6.19
AIA - Back My Build	6.19
ANZ Blueprint to Build	7.39
Credit Union Auckland	7.70
ICBC	7.85
Heartland Bank - Online	7.99
Pepper Money Essential	8.29
Co-operative Bank - Owner Occ	8.40
Co-operative Bank - Standard	8.40
First Credit Union Standard	8.50
Kiwibank	8.50