New REA website – recommended reading for property newbies
A new website, settled.govt.nz recently launched by the Real Estate Authority (REA), is useful for both buyers and sellers new to the process in NZ.
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Bright Line Test extended from 2 to 5 years
The Bright Line Test was introduced as part of the Taxation Act 2015. It requires income tax to be paid on any gains from residential property that is disposed of within two years of acquisition, subject to some exceptions.,,
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Report from the Property Council AlexanderDorrington Regatta
On Thursday15th March 2018, the sold-out event returned to Auckland’s Waitamata Harbour in its best form yet.
DetailsHave your say on changes to the Overseas Investment Act and Residential Development
You will have seen media reports of expected changes to the Overseas Investment Act. They implement the government’s plans to restrict the sale of houses to people who are not New Zealanders. The submission period has been extended and submissions close 16 February 2018, so there’s time to have your say if you would like…
DetailsProperty Council AlexanderDorrington Regatta 2018
We are pleased to announce the Property Council AlexanderDorrington Regatta is back! The last time we were on the water for this Regatta was 10 years ago. Either bring along your own boat, or borrow one of the boats along with the skipper from the Royal New Zealand Yacht Squadron. The afternoon will include a…
DetailsWhy you need to get your Will right
Holiday season and a new year gets many of us thinking about those important jobs we need to get to. If you haven’t already made a will; you may want to add this near the top of your list. A will is one of the most important legal documents you ever put in place. However, many people…
DetailsSettling SugarTree – a large apartment sell down
Time lapse video of our office on settlement day. Bonnie Warburton’s behind the scenes glimpse at five crazy days. Attempting to settle 270 apartments on one day is no easy task and not for the faint hearted. Whilst the pressure of the SugarTree settlement at times was enormous, the satisfaction at the end…
DetailsEasing the way for drones
Commercial uses for drones Dr Catherine Ball, is a world leader in the non-military application of drone technology. She highlighted some really important issues for property owners at The Property Council New Zealand National Conference in Melbourne13-15 September. Firstly it’s important to note that there are all sorts of drone use beyond delivery…
DetailsFuture-proofing the legal design of subdivisions
There is a lot of discussion around the physical design of subdivisions and how that impacts the community that is created and the ultimate owners’ use and enjoyment of the land. The legal design is just as important. Recent agreements I have reviewed for some new developments cause me concern as to what we…
DetailsThree consecutive days of settlements for major property developments sets a new company record
On Monday 16th October our team handled settlements for close to 250 apartments and 30 carparks. This huge piece of work was undertaken for property development client, SugarTree. It is the second stage of a three phase development which bridges the suburbs of Ponsonby, Grey Lynn and Freemans Bay with the hub of the inner…
DetailsDesignation notice improves the management structure options for communal facilities
What’s not to love about modern user-friendly legislation? Nearly a year ago the need to set up Incorporated Societies in order to manage communal facilities on a property development, became a thing of the past. Incorporated Societies have their place but they require a minimum of 15 members, a common seal and are governed…
DetailsIs a 10% deposit reasonable ?
A deposit amount is a matter for negotiation between the parties. Whilst the customary figure is 10% it need not always be the rule. The Auckland District Law Society and Real Estate Institute of New Zealand Agreement for Sale and Purchase template (ADLS Agreement) provides that a vendor can retain a maximum 10% deposit when…
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