Posts in May 2014
What You Need to Know When Building a New Home or Undertaking Any Major Renovations

Step 1 - Obtain a PIM (Project information memorandum)
This is a report about a building proposal on a specific site. It will also tell you if your project is affected by any council bylaws, any special features of the land, such as erosion or the presence of hazardous materials, the details of any stormwater or wastewater systems relating to or near the site, and whether you will need to pay a development contribution.
A PIM will be issued within 20 working days and councils will charge a fee for this service.

Step 2 - Plan and budget
How much are you intending to spend on this project? Research designers and architects and obtain quotes for the project from 3 different contractors who's previous work you liked the look/style of. You can advertise your job on the NZ institute of Architecture or ADNZ approved architects here

Step 3 - Obtain a building consent
This takes approximately 20 working days and is obtained via the council or your architect or builder if you prefer
The BCA will inspect the site and work frequently up until completion/final sign off. You have 2 years to complete the work from start to finish or you must re-apply for another consent!

Step 4 -
CCC (code of compliance certificate)
The CCC will be issued once the BCA is satisfied that the building work complies with the building code 2008 and does not extend beyond what has been approved and noted on your submission.

For more information on building a new home, here is a great site to visit.
Congratulations! Now you are ready and set to start planning and designing for your new home!

Work that requires a building consent

  • Structural building - additions, alterations, re-piling, demolition
  • Plumbing and drainage (except the repair and maintenance of existing components)
  • Relocating a building
  • Installing a woodburner or air-conditioning system
  • Retaining walls higher than 1.5 metres
  • Fences or walls higher than 2 metres, and all swimming pool fences
  • Swimming pools
  • Decks, platforms or bridges more than 1 metre above ground level
  • Sheds greater than 10 square metres in floor area
  • Some earthworks also require a building consent (check with your council)

Work that doesn't require a building consent

  • A patio or deck at ground level
  • Garden trellis less than 2 metres high
  • Installing kitchen cupboards
  • A small garden pond
  • Maintenance of your house, for example, replacing spouting or a piece of weatherboard
  • Building a small garden shed
Monthly Housing Market Update

Well it sure is getting chillier isn't it?!  The current feeling is that the market is likely to remain hot, as our growing population is not yet adequately catered for with new housing construction. Across the Northern Region, and particularly in Auckland, there is fierce competition in the auction rooms. In Auckland, almost half of all properties are now sold at auction. Our office reported a 93% selling success rate for auctions from the financial year. To date this year, the homes I took to auction have all sold at auction on the day or shortly thereafter.Remember, if you know of a house that recently sold in the area and it is not on the list, feel free to email me and inquire about what it sold for.

Auckland asking prices have risen 12% from this time last year and reached a new high of $685,426 last month. The national asking price in New Zealand, however, dipped last month to $477,460 (down 1.4%) but up 7% from this time last year.  The number of new listings in April came to a grand total of 10,245 which equated to 2% more than the number of new listings seen this time last year. However, the number of new listings was significantly less (down 18%) than reported in March this year.

Here at Harcourts, we welcome the Government’s announcement of 41 new “special housing areas” across Auckland that will allow 18,000 new homes to be fast-tracked. However, it is likely prices will continue to rise for the foreseeable future until construction can keep pace with our growing population.
For more information on the current market, check it out here

LVR Restrictions May Soon Be Gone...

Direct from the Harcourts CEO Hayden Duncan - Last week the Reserve Bank announced loan-to-value restrictions may be reaching the end of their useful lifespan, with an end date signalled for later this year.

This is welcome news for provincial New Zealand, where the restrictions have had a significant impact on an already weak market. In the Central, Wellington and South Island Provincial regions average sale prices remain in the $300,000s and have done so for a number of years. LVR restrictions were not needed here and have prevented first home buyers achieving the dream of home ownership.

In Auckland and Christchurch the overheated markets are the result of simple low supply and high demand. Harcourts advocates fast tracked and quality construction in these two cities as the best way to sensibly moderate rising costs.

Sales soar despite continued tightening of available homes for sale.  The talking point of most is Auckland’s hot property market and the lack of listings, this month at 22.4% below this time last year.  New auctions are up by 21.2%, the second highest recorded level, showing sellers are continuing to take advantage of the multiple-bidder environments on auction day.  Read more here.