The vacant 1.6ha site at Luke St in Otahuhu is owned by the Ministry of Education and still earmarked for a future school when population growth demands it. However, in the meantime it will house 27 two-bedroom, seven three-bedroom and 17 four-bedroom homes for families on the social housing register. The project comes as the50
It’s becoming harder for Aucklanders to borrow money for a new house if they haven’t already sold their current home. East Auckland mortgage broker Bruce Patten said he was getting about 12 calls a week from people having trouble getting bridging finance from their banks to buy a new home before selling their old one.50
It’s not just Aucklanders scrambling to afford property – median values for suburbs in Tauranga, Rotorua and Hamilton continue to climb. Each of Tauranga’s 17 suburbs have increased by at least 20.5 per cent in the year to June. Rotorua and Hamilton have both had increases of 17 per cent in all of their suburbs.50
Auckland building inspectors are in hot demand. Auckland Council says it urgently needs dozens of new qualified building inspectors. The Council is feeling the strain of the building boom and is at risk of being snowed under by the soaring number of new buildings under construction.The Council would need at least 20 inspectors this year50
Many who think they can’t live on their current income are frittering a bigger chunk of it away than they realise. Whether they’ve bought a first home, upgraded, or extended the mortgage to pay for building works, many Kiwis, and Aucklanders in particular, have saddled themselves with way more debt than they care to think50
Weekly figures released by the Reserve Bank show 5668 home loans were approved in the week ending August 12 – down from 6332 in the week ending July 15 – the week before the latest plans to tighten lending were announced. Karen Tatterson, a mortgage broker with Loan Market said she was not surprised lending50
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