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What will Property Values do in 2019?
2018 was another interesting year in the New Zealand property market. With stable and relatively high volumes Hawke’s Bay values generally showing consistent growth similar to the rest of the country except for Auckland and Christchurch. Without doubt in 2018 our local property market was being impacted by the more macro of government policy and this will continue in 2019....
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The value of building your own home
Hawke’s Bay is growing. We can see that by the numerous new infrastructural construction that is going on around us. So, it’s no surprise our region is growing residentially as we need to house a growing population. It is generally accepted that new housing stock is now a vital part of keeping up with a growing New Zealand. So, the...
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Commercial property values under fire
From 1 July 2017, the Fire and Emergency New Zealand Act 2017 (FENZ) came into force replacing the Fire Services Levy. The Act replaces the Fire Services Act 1975 and the Forrest & Rural Fire Act 1975. It has been designed to ensure New Zealand has a modern, fit for purpose, and well-funded fire service that addresses long standing issues...
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Valuing up the Napier Office Rental Space
Traditionally there has always been an oversupply of secondary office rental space in Napier and Hawke’s Bay in general. Tenants have favoured, new or well renovated office accommodation which has meant that landlords with second tier accommodation have always struggled to attract tenants. However, recent developments in June 2017 saw the Napier City Council identify the council civic buildings as...
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The value of a registered valuer
Late last year Napier City Council updated the Rating Valuations (RV) for properties within its Territorial Authority (TA). Also known as Government Valuations (GVs) these property valuations are undertaken every three years and are based on mass appraisal techniques. The values are used primarily for assessing local authority rates and in many cases the subject property has not been inspected....
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New legislation sets timeline for fixing earthquake prone buildings
It’s an acknowledged fact that New Zealand is prone to seismic activity and ultimately ensuring the safety of people is our priority and our buildings need to be safe for occupants and users alike. As from July 1, 2017 the Building (Earthquake-prone Buildings) Amendment Act 2016 came into effect and the legislation affects owners of earthquake-prone buildings, territorial authorities (TAs),...