Blessing paves the way for building development in Porirua

Source: Housing New Zealand Corporation

Work to begin building 53 new homes in Cannons Creek, Porirua, will be underway this month after the blessing of Housing New Zealand’s Castor Loop site today.

L-R: Adrian Rurawhe – MP for Te Tau Hauauru; Taku Parai – Ngati Toa Kamatua; Mike Tana – Porirua Mayor; Patrick Dougherty, Housing NZ General Manager Asset Development at the Castor Loop blessing.

The new homes are an important step in helping to meet the increasing demand for homes in the city and are the first of many new state homes to be built in Porirua in the coming years.

Local iwi Ngāti Toa led the blessing which was attended by a number of local groups, agencies and community members.

Patrick Dougherty, HNZ General Manager Asset Development, says the homes will be a welcome addition to the area, providing quality warm, dry houses for people and families in need.

“This is one of HNZ’s largest building developments in Porirua for many years and it’s the start our increasing development activity in Porirua which will see up to 80 new homes built there over the next one-to-two years.

“We’re also looking to renew many of our older homes in Porirua through the Porirua Development.

“This will see 2,900 public houses upgraded making them warmer, drier and safer, the delivery of at least 2,000 new affordable and market homes, and up to 150 new public houses will be added to the wider Porirua area and Tawa.”

Mr Dougherty says the Castor Loop homes will comprise one-bedroom apartments and four- and five-bedroom homes and will cost approximately $16 million.

Groundworks in preparation for building will start later this month with the project taking around two years to complete with the first of the new homes will be available from late 2020 onwards.

Read about the Castor Crescent development

A large crowd attending the Castor Loop blessing

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New Year barbeque in Riccarton

Source: Housing New Zealand Corporation

We had a great turnout for the New Year’s event at our complex in Riccarton Road.

Asset Manager Ryan and Tenancy Manager Trish crank up the barbie

Acting Area Manager Dharmista said having a barbeque was a great way to bring people together. “We can’t underestimate the value of connecting with people.”

This barbeque replaced an earlier one planned for Christmas that was postponed due to bad weather.

Members of the Oak Development Trust, who serve monthly afternoon teas from the little common room on site, also attended.

Since being refurbished six months ago the Cabin – a true ‘tiny house’ – has proven its worth as a catalyst for interaction.

Read about the upgrade to the cabin

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New Whangarei homes are ka pai

Source: Housing New Zealand Corporation

Eleven new state homes were officially opened by the Minister for Housing and Urban Development Phil Twyford on 5 February.

Tenants Maurice and Wayne will be moving into new state homes on Maunu Road.

The spacious one-bedroom homes on Maunu Rd, in Woodhill, are just 500m from Whangarei Hospital and have been designed for people with limited mobility and other health needs.

Tenant Wayne is stoked to be moving in. “The new house is ka pai. The biggest advantage for me is that it’s all on one level. I have a heart condition so it’s a bit hard getting up the stairs. I’m looking forward to not having to worry about that anymore.”

His neighbour Maurice says he will miss his old place on Anzac Road, especially the view from his third floor flat, but the houses on Maunu Rd have other benefits. “They are great, really nice and new, and it looks like there will be plenty of room to move around.”

Five of the houses are fully accessible with ramps, wide hallways and wet-room showers, as well as other specifications. The other six homes have been designed to be easily modified, if needed, in future.

The opening event kicked off with a karakia (formal greeting) led by members of local hapu Te Parawhau. This was followed by speeches from Minister Twyford and Housing New Zealand Deputy Board Chair Vui Mark Gosche.

Several tenants came along, as well as members of Whangarei Council, Housing New Zealand, building company Pacific Homes and local media.

Members of Te Parawhau hapu, Vui Mark Gosche and Patrick Dougherty of Housing New Zealand, tenants and Minister Twyford all attended the Maunu Rd house opening.

Minister Twyford said one of the Government’s top priorities was reinventing and modernising public housing for the 21st century.

“At the moment, the Government is investing $4 billion into building more public housing all around the country. For the first time in decades, we are building significant numbers of houses in regions outside our biggest cities.

“But it’s not just about building houses, good design is critical. They have to be great places for people to live in at all ages and stages of life.

“That’s why I’m particularly pleased and proud of the work that Housing New Zealand has done with this development and so many others that they are building.”

Vui Mark Gosche said it was brilliant to be opening new homes in Whangarei under Housing New Zealand’s Regional Housing Programme, especially given that nearly half the development is made up of accessible homes.

He thanked the tenants for coming along on the day. “I hope you enjoy these homes because we certainly enjoy making new warm, dry homes available to you.”

He also acknowledged the members of Whangarei Council, including Mayor Sheryl Mai and councillor Cherry Herman, who were there on the day.

“We couldn’t do this without your support. It’s not a matter of building the houses, tenanting them and saying goodbye.

“We want to make sure that Housing New Zealand is a good neighbour and that we contribute to building strong communities on an ongoing basis.”

New warm, dry homes on Maunu Rd in central Whangarei.

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MIL-OSI Australia: Interview with Ross Greenwood, Today Show, Channel 9

Source: Australian Treasurer

Subjects: Economy; budget; Labor’s housing tax, and women in politics.

ROSS GREENWOOD:

Josh, just first up, let’s go to the economy and all of that type of thing. The Prime Minister here, last week, said there were economic headwinds. Does this mean that your ability to get the budget back into surplus, you will have a budget in April, of course, is that diminished by those economic headwinds that the Prime Minister is talking about? 

JOSH FRYDENBERG:

We will be delivering the first budget surplus in over a decade on April the 2nd. We have seen a record number of women in the workforce, we have seen a record number of young people get a job over the past year. And so, the fundamentals of the economy are strong and that has enabled us, Ross, to spend record amounts on education and health.

But, the Prime Minister is right, we are seeing globally China slow-down from its previous highs, Europe has been gripped by Brexit and those trade tensions between the US and China…

ROSS GREENWOOD:

But, also, house prices are falling here, construction is down, people aren’t spending as much money it would seem, aren’t they headwinds that really could affect the economy and that surplus?

JOSH FRYDENBERG:

There is a cooling of the housing market, but what we don’t want to see is the housing market to be hit with a new big tax, namely the plans to abolish negative gearing from our political opponents. So, that is a real danger.

ROSS GREENWOOD:

Ok, then the other thing about this also is, would you say that the Australian economy, if it is back in surplus, is robust, is it healthy? What sort of state is it in right now?

JOSH FRYDENBERG:

The fundamentals of the Australian economy are good, but the Prime Minister is absolutely right. We need to prepare for a winter day, we need to deal with these cold headwinds.  

ROSS GREENWOOD:

Okay, so, is it the problem that you say, yes, there might be some issues around the place, but its broadly healthy. Isn’t that at odds with what the family, listening here at home are saying. They’re seeing tight wages, they’re seeing falling house prices, they’re seeing higher electricity prices. So, therefore, your view of the economy might be different to the view of the economy of people who are sitting here, watching it at home?   

JOSH FRYDENBERG:

Well, certainly the lived experience of Australians right across the country is of energy prices that are too high and we have also seen the impact of the drought.
But, we have also seen record job creation, much lower than when we came to Government and that is an important point.  

ROSS GREENWOOD:

Your side of politics, does it have a female problem? Kelly O’Dwyer has quit, there are obviously issues in terms of other female representatives who are not there anymore. Is there a problem with women inside the Coalition?

JOSH FRYDENBERG:

We want to see more women in our parliamentary party, but we’ve also got outstanding women in the team right now. We’ve got the first female…   

ROSS GREENWOOD:

But, the question is whether there is enough, that is the whole point.

JOSH FRYDENBERG:

Well, we want to see more and actually at this election, we’ve got a number of very strong female candidates in important seats that we must win.   

ROSS GREENWOOD:

Alright, that you must win. And that’s going to be the key going into the thing. I want to take you into your tennis career, were you any good?

JOSH FRYDENBERG:

My ambitions were far greater than my talents, Rossco.  

ROSS GREENWOOD:

Okay, but you took a year off during your gap year to have a crack at the satellite tour, what was that like?

JOSH FRYDENBERG:

It was great, travelled the world. Had a few losses, had a few wins. But the point is, I got to fulfil my dream. I didn’t want to finish school, actually.   

ROSS GREENWOOD:

Is it true that you beat Mark Philippoussis in a doubles match, is that right?

JOSH FRYDENBERG:

Yeah, I did, and it went to a tie-break with Pat Rafter up in Queensland…

ROSS GREENWOOD:

And did you beat him there?

JOSH FRYDENBERG:

No, he took the honours…

ROSS GREENWOOD:

So you were that good, in other words you could actually be on the same court with these sort of fellows at that time in your life?

JOSH FRYDENBERG:

On the same court, but not necessarily winning.  

ROSS GREENWOOD:

Nah that’s right. So, in terms of tennis, you also were an Oxford Blue twice, you played for Oxford University. You travelled the world with them, so you know, you’ve actually played some reasonable tennis.

JOSH FRYDENBERG:

Well, now I eat for a living, as you know, Ross…

ROSS GREENWOOD:

That’s right. Are you a better tennis player or Treasurer?

JOSH FRYDENBERG:

Well, I hope to be good at both.

ROSS GREENWOOD:

Let’s have a crack, let’s see how good he was. Treasurer, The Josh Frydenberg here, on the people’s court.
Have a bit of a go at this Josh.

JOSH FRYDENBERG:

Ok.

ROSS GREENWOOD:

Look at this, here is a bit of action from last night. Here we go. Well, that’s not me.

JOSH FRYDENBERG:

Ross, bend the knees Ross.

ROSS GREENWOOD:

C’mon on Josh, oh look at this, it’s going well, isn’t it. Well there’s the Treasurer going, oh look, there we go.

JOSH FRYDENBERG:

So, are you going to teach Ash Barty a thing or two Rossco?

ROSS GREENWOOD:

Well, I’m not going to teach Ash Barty anything, except the cricket I would have thought. But, how about you Josh? Now are you still any good as a seniors vet tennis player, Josh?

JOSH FRYDENBERG:

Ah well, I try to get on the court a bit. But, it is fantastic to see so many Australians come out to the open. It is a really national event.

ROSS GREENWOOD:

The Treasurer, I got to tell you, the Treasurer Josh Frydenberg. He is the Treasurer and also a tennis player as well. Well done Josh.

JOSH FRYDENBERG:

Thanks Ross, great to see you.

MIL OSI Australia

MIL-OSI Submissions: Almost 33,000 homes consented in November year – Stats NZ Media and Information Release: Building consents issued: November 2018



Almost 33,000 homes consented in November year – Media release

11 January 2019

Almost 33,000 new homes were consented in the year ended November 2018, up 5.3 percent from the November 2017 year, Stats NZ said today.

Auckland drove the increase in new homes consented, followed by Wellington. A total of 32,783 new homes were consented in the year ended November 2018.

“Stand-alone houses accounted for nearly two-thirds of new homes consented in the year ended November,” construction statistics manager Melissa McKenzie said. “We saw a sustained increase in apartments, as well as townhouses, flats, and units, particularly in Auckland.”

In the Auckland region, 12,800 new homes were consented in the year ended November 2018, down slightly from 13,078 in the year ended October 2018.

The number of new homes consented fell a seasonally adjusted 2.0 percent in the November month, following a 1.4 percent increase in October.

For more information about these statistics:

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MIL-OSI Submissions: Property assets and debt drive changes in wealth – Stats NZ Media and Information Release: Household net worth statistics: Year ended June 2018

Property assets and debt drive changes in wealth – 14 December 2018

For typical households owning the home they live in, the value of their home rose almost $100,000 over the last three years, Stats NZ said today.

Median property assets for people’s homes were up from $350,000 in the year ended June 2015 to $448,000 in 2018. Household debt associated with our homes also increased. Median property debt for people’s homes increased from $172,000 to $206,000 (up $34,000) over the three years.

“Because many people’s main asset is the house they live in, changes to the value of residential property has a big impact on household net worth,” labour market and household statistics senior manager Jason Attewell said.

Net worth measures the value of all the assets a household owns, including property and savings, less all the debts, such as mortgages and credit card debt.

The median value of household assets increased from $400,000 to $496,000 (up 24 percent) in the three years to June 2018. During the same period, household debt remained unchanged at about $42,000 in the year to June 2018, and household net worth rose 18 percent, to a median net worth of $340,000.

For most households, the amount of property debt for each dollar of property asset held remained stable or reduced over the three years to June 2018. However, for households in the lowest 20 percent of the net worth distribution, the debt per dollar of asset, specifically for the home they live in, increased from $1.10 of debt to $1.75.

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“While the amount of debt a household holds is important, for wealth, it’s the size of the debt in relation to the size of the assets that determines a household’s net worth. Households with the lowest net worth now have more debt per dollar of asset in the house they live in than three years ago,” Mr Attewell said.

These latest statistics, gathered from the Household Economic Survey (HES), help describe the net worth of New Zealand households in the year ended June 2018. Net worth statistics are a key indicator of the economic well-being of New Zealanders – for example, they provide information on wealth inequality and how prepared New Zealanders are for retirement. We collect information about net worth every three years.

HES is not designed to measure total wealth but helps to understand the distribution of net worth across the population.

Annual balance sheets: 2017 (provisional) released on 10 December 2018 provides a measure of total household net worth.

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MIL-OSI Submissions: Wealth of top 20 percent rises by $394,000 – Stats NZ Information Release: Household net worth statistics: Year ended June 2018

Wealth of top 20 percent rises by $394,000 – 14 December 2018

The net worth of the richest 20 percent of New Zealand households has risen $394,000 since 2015, to reach a median of $1.75 million, Stats NZ said today.

Over the same period, from the year ended June 2015 to the June 2018 year, the net worth of the bottom 40 percent has not increased.

The median net worth of the typical Kiwi household in the June 2018 year was $340,000, up from $289,000 three years ago – mainly reflecting rising property values. The median means half of all households are richer and half are poorer than this value.

“The median net worth of the top 20 percent of surveyed New Zealand households has increased about $131,000 a year. This equates to almost $360 every day for the past three years,” labour market and households senior manager Jason Attewell said.

“Household net worth in New Zealand is concentrated in the top 20 percent of Kiwi households surveyed in the past year. That group collectively holds about 70 percent of total household net worth. These net worth statistics tell us that wealth is unevenly distributed across the population, and this is unchanged from three years ago.”

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In the second survey of net worth, Stats NZ asked thousands of households about the assets they own, including homes, shares, and bank deposits, and the money they owe, such as mortgages and credit card debt. The balance between the two sides of the ledger is their net worth.

“This information is important because it can show how well households are prepared for retirement, or how well they can weather a financial storm, such as losing their job,” Mr Attewell said.

In the June 2018 year, compared with three years earlier, 55 percent more households had a net worth of more than $1.50 million.

“However, we also know the survey may not gain a representative picture of a small number of the extremely rich,” Mr Attewell said.

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Half of all households held 94 percent of New Zealand’s net worth. This is very similar to the distribution in 2015, when it was 93 percent.

New Zealanders’ individual net worth increased with age until around retirement. People tend to build net worth throughout their lives. In 2018, young people (15–24 years) had the lowest median individual net worth ($2,000); people of traditional retirement age (65–74 years) had the highest ($416,000).

The household economic survey is not designed to measure total wealth but helps to understand the distribution of net worth across the population.

Annual balance sheets: 2017 (provisional), released on 10 December 2018, provides a measure of total household net worth.

Video

See the Household net worth statistics: Year ended June 2018 video.

For more information about these statistics:

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MIL-OSI Submissions: Auckland home consents hit 13,000 – Stats NZ Information Release: Building consents issued: October 2018

Auckland home consents hit 13,000 – 30 November 2018

More than 13,000 new homes were consented in Auckland in a year for the first time since the 1970s, Stats NZ said today.

A total of 13,078 new homes were consented in the region in the year ended October 2018 – up 25 percent from the year before, and four times as many as the low point in the August 2009 year.

“Home permits in Auckland briefly reached a similar high level in the early 1970s, when Auckland’s population was less than half what it is now,” acting construction statistics manager Dave Adair said.

“The number of new homes consented also came close to 13,000 in the June 2004 year.”

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Over the past year, only 48 percent of consented new homes in Auckland were stand-alone houses (74 percent across the rest of New Zealand). The remaining 52 percent were apartments, townhouses, retirement village units, and flats.

In the year ended October 2018, a total of 32,925 new homes were consented in New Zealand – up 6.7 percent from the October 2017 year. Auckland was the main driver of this increase, followed by Wellington. The picture was mixed for other parts of the country, with the largest annual declines being in Canterbury and Bay of Plenty.

Home consents up in October month

Nationally, the number of new homes consented rose 1.5 percent (seasonally adjusted) in October 2018, reversing a 1.3 percent fall in September.

For more information about these statistics:

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MIL-OSI Submissions: Home building in Auckland lifts construction activity – Stats NZ Information Release: Value of building work put in place: September 2018 quarter

Home building in Auckland lifts construction activity – 5 December 2018

Home building in Auckland drove an increase in the overall volume of building activity in New Zealand in the September 2018 quarter, Stats NZ said today.

Nationally, the volume of building work increased a seasonally adjusted 0.7 percent from the June 2018 quarter, driven by residential construction, up 1.2 percent. Over the same period, the volume of non-residential work was unchanged from the previous quarter.

“Auckland residential work picked up in the latest quarter, more than offsetting recent falls in Canterbury,” acting construction statistics manager Dave Adair said.

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“While this quarter’s overall construction volume recorded a new high, construction activity has been around this level for two and a half years,” Mr Adair said.

Volume measures of building activity exclude the effects of increasing construction costs to show underlying changes in the volume of work.

Construction values in Auckland and Canterbury mixed

In seasonally adjusted value terms (which do not adjust for cost changes), Auckland residential work rose 7.0 percent from the June quarter (to $1.6 billion), the largest percentage rise since the June 2016 quarter. Residential construction in Auckland accounted for over a quarter of all building work in New Zealand in the September 2018 quarter.

The overall value of construction in Auckland increased 3.8 percent in the September quarter, with the rise in residential work partly offset by a fall in non-residential work.

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In Canterbury, overall building value rose 2.7 percent in the September 2018 quarter, due to a 13 percent rise in non-residential construction. Meanwhile, residential construction fell 5.0 percent, down for the third quarter in a row.

Value of building work versus building consents

The value of building work put in place shows construction completed each quarter, while building consents issued are an indicator of planned work (see Auckland home consents hit 13,000). Typically, more than 95 percent of consented building work is constructed over time (see Building plans put to work).

For more information about these statistics:

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MIL-OSI UK: Tenant Fees Bill: Lords third reading

Source: British Parliament News

14 January 2019
The Tenant Fees Bill has its third reading, a chance to ‘tidy up’ the bill and make changes, in the Lords on Tuesday 15 January.

Members are expected to discuss two amendments relating to interest payments owed by landlords or letting agents to enforcement authorities.
Lords report stage: Tuesday 11 December
Members discussed the acceptance of multiple holding deposits for the same property, the approval and designation of client money protection schemes and the requirement to belong to such a scheme.
Lords committee stage day two: Tuesday 20 November
Members discussed the early termination of tenancies and payments in respect of identity and immigration status checks.
Report stage, a further chance to examine the bill and make changes, is scheduled for 5 December.
Lords committee stage day one: Monday 5 November
The first day of committee stage of this bill took place in Grand Committee, a room outside the Lords chamber. In Grand Committee, any member can take part and decisions on amendments can be made, but no votes can take place.
Members discussed a range of subjects, including:
the government’s duty to provide tenants with guidance on the effects of this bill
the reimbursement of costs incurred by enforcement agencies in the exercise of their duties
the requirement of tenants to make payments to cover a landlord or agent’s loss due to a breach of the tenancy contract
Lords second reading: Wednesday 10 October
Members discussed unfair letting fees, compensation payments to tenants and home share schemes.
Lord Bourne of Aberystwyth (Conservative), parliamentary under-secretary in the Department for Housing, Communities and Local Government, responded on behalf of the government.
Tenant Fees Bill summary
This bill will aim to:
make renting fairer and more affordable for tenants by reducing the costs at the outset of a tenancy
improve transparency and competition in the private rental market
ban letting fees paid by tenants in England
improve fairness, competition and affordability in the lettings sector
Further information
Image: iStockphoto

MIL-OSI UK News