Property

• Government will allow larger granny flats to be built without resource or building consents • Rule change aims to reduce red tape, lower costs, and support multigenerational family living • Reforms to land acquisition and building materials access also introduced to boost housing supply The Government is making it easier for New

* New legislation aims to reduce red tape and boost development across the country * Two new Acts will focus on land use and environmental protection, replacing the current RMA * Cabinet estimates show reforms will cut compliance costs by nearly half compared to current system The Government has confirmed it will replace

* Complaints about disruptive behaviour now handled in around 13 days (down from around 60 days a year ago) * 553 Section 55A notices issued by Kāinga Ora since July 2024, up from 41 issued during the same period in the previous year. * Of that 553, first notices made up around 83

* Reserve Bank lowers official cash rate by 50 basis points to 3.75%. * Banks reduce floating mortgage rates, with mixed changes to fixed rates. * Economic growth expected to recover in 2025 despite global uncertainty. The Reserve Bank of New Zealand (RBNZ) has cut the official cash rate (OCR) by 50

* Southland's average asking price rose by 112.2% in the past decade, reaching $546,216. * The growth outpaced Auckland, which saw a 29.5% increase in the same period. * Regional appeal, economic stability, and affordability continue to drive Southland’s market growth. Southland has emerged as one of

* Southland's new listings rise 30.6% in January, signalling increased activity in the region. * Local market experts predict a strong year ahead with favourable conditions for buyers and sellers. * Lending rate drops and pre-approvals drive high buyer interest across Southland and Invercargill. The Southland housing market has kicked

The New Zealand property market experienced a significant surge in 2024, with over $115 billion worth of residential property listed, marking a $19 billion increase compared to 2023, according to realestate.co.nz. Among the notable trends, Southland stood out with an impressive 4.9% growth in average asking prices,

* Southland median home prices hit record highs, with strong demand driving growth. * New listings in Southland rose 7.3%, contrasting with the national decline in listings. * Balanced market conditions in Southland offer steady opportunities for buyers and sellers. Southland’s property market finished 2024 on a high note, standing out