Just lookit all that prudent sensible economic credibility

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Selling below valuation in Auckland? Okay rather suspicious but then again I have seen properties sell in Papakura either AT valuation level or well above it. It depends on the circumstances the new owner might have.

Also going to put the comment made over at DimPost that caught my attention as well:

We’re not actually in the middle of a property boom, are we, Danyl? We’re in the middle of a housing crisis and the Government needs to sell houses in order to free up some cash for their plans to build a lot more houses in order to dampen down demand. Work & Income are paying out record amounts of accommodation supplements because of high rents, so surely part of the solution is to make sure that low income families are able to buy their first home with the help of Government incentives. I also think that we can’t rule out the possibility of implementing rent controls. So, currently when you rent a house, the landlord can legally only put the rent up by a certain percentage each year. Yet if you move out and a new tenant comes in, the rent can go up exponentially. This means that a small wooden house in Christchurch can be rented out for $360 per week by a couple that have been there for ten years and when their renewal comes around in November their rent will be increased to $380 per week; their friends who have just moved in to an identical property across the road are paying $480 per week and when they have their renewal in one years’ time their rent will be going up to $505 per week. This is a loophole in the system that needs to change. People say that Warrant of Fitness checks on all rental properties wouldn’t work because rents would go up but the fact of the matter is that rents are already capped in New Zealand for existing tenants and the other loophole that could see rents rise, new tenants, simply needs to be closed with the use of a National register of investment properties. This register would also ensure that foreigners couldn’t buy an unlimited amount of investment properties as they can now. Nick Smith was right to assert that, while foreign ownership only makes up around eight percent of the properties in Auckland, in an overheated market this is very detrimental to that market.

Comment by Daniel Lang — June 15, 2015 @ 1:36 pm

Council Seeks a Community Housing Partner

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Council is second largest provider of such housing behind Central Government

From Auckland Council

Council seeks community housing partner

A partnership with a community housing provider could offer long-term security to existing tenants, improved services and a significant increase in the number of homes in Auckland Council’s social housing portfolio.

The Auckland Development Committee has agreed to engage with the Community Housing sector to explore a partnership model for providing accommodation for older people. Through securing a partner, Auckland Council could gain access to the Government IRRS (Income Related Rent Subsidy) which is estimated at $38 million over 10 years.

Deputy Mayor Penny Hulse says “A review of council’s housing portfolio has identified some opportunities for redevelopment that could potentially increase the amount of housing, including social housing that we can provide.

“We are committed to providing safe and secure housing for older people. By gaining a community housing partner we can explore how we develop our portfolio and extend services to tenants. Finding a partner and potentially securing Government funding means we can develop our social housing at no extra cost to Auckland ratepayers.”

Auckland Council owns 1412 Housing for Older People (HfOP) rental units and facilitates ownership of an additional 150 units known as own-your-own units. The housing portfolio covers 62 sites over 26 hectares spread across the city.

 

Further Information

  • Auckland Council is the second largest provider of social housing in the region, after Housing New Zealand.
  • Two substantive criteria to select a community housing partner are the ability of the partner to access the IRRS by being a registered Community Housing Provider and having the necessary experience in the provision of social housing, including tenancy and assets management.

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