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The Government’s bill banning foreigners from buying New Zealand homes is now set to become law in weeks after passing its third reading in the House on Wednesday.
Property prices in New Zealand have reached a new record high, up on average by $27,000 a year to $562,000, a rise of 5%, and sales also rose, the latest monthly index shows.
New Zealand's government has softened its stance on foreign ownership of homes, rewriting a proposed law banning non-residents from investing in housing.
Higher Auckland house prices are not flowing through directly into the rental market, with the city’s average weekly rents seeing year on year increases of around 5%.
Average house prices continue to rise, but the hot Auckland market appears to be slowing,
Architects and designers like Tom Givone, who was recently interviewed in Architectural Digest, are tasked with creating inspiring spaces every day.