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New Zealand property bubble. The property bubble in New Zealand is a major national economic and social issue. Since the early 1990s, house prices in New Zealand have risen considerably faster than incomes, [ 1] putting increasing pressure on public housing providers as fewer households have access to housing on the private market.
Headquartered in Auckland, Harcourts has 8,500 real estate professionals across 908 office locations. In 2023, Harcourts transacted $50 billion worth of property and as of 2024, it has $58.8 billion worth of property under management. Harcourts' average sales consultant star rating is 4.7/5, and its client Net Promoter Score is 70.0.
When records began in 1974, new homes in New Zealand had an average floor area of 120 m 2 (1,290 sq ft). Average new home sizes rose to peak at 200 m 2 (2,150 sq ft) in 2010, before falling to 158 m 2 (1,700 sq ft) in 2019. [17] In 1966 the New Zealand Encyclopedia recognised seven basic designs of New Zealand houses.
Flat Bush (also known as Ormiston or Flatbush) is a southern suburb in the city of Auckland, New Zealand. It has recently become one of the city's largest new planned towns after being developed as a rural area of Auckland for several decades. Located east of Ōtara, plans for substantial expansion began under the Manukau City Council ...
New Zealand went through a major program of tax reform in the 1980s. The top marginal rate of income tax was reduced from 66% to 33% (changed to 39% in April 2000, 38% in April 2009, 33% on 1 October 2010 and back to 39% in April 2021) and corporate income tax rate from 48% to 28% (changed to 30% in 2008 and to 28% on 1 October 2010).
The Real Estate Authority (REA), formerly the Real Estate Agents Authority (REAA), is the New Zealand Crown entity responsible for the regulation of the New Zealand real estate industry as well as the agents within it. [4]
Westmere. / -36.855; 174.720. Westmere is a residential suburb of Auckland, in northern New Zealand. The Auckland Council provides local governance. On the southern shore of the Waitematā Harbour, this former peninsula is by road about 6 kilometres (4 mi) west of the city centre .
A real-estate bubble or property bubble (or housing bubble for residential markets) is a type of economic bubble that occurs periodically in local or global real estate markets, and it typically follows a land boom. [1] A land boom is a rapid increase in the market price of real property such as housing until they reach unsustainable levels and ...
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