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The longtime president of the NZPIF discusses his greatest regret and proudest accomplishment. The longtime president of the New Zealand Property Investors Federation (NZPIF) has resigned after working on behalf of property investors for a quarter of a century. Andrew King, one of New Zealand’s top lobbyists, is heading on a seven-month motorcycle ride from San Francisco to Santiago, Chile, with his wife, as part of a plan to motorbike throughout the Americas. In a letter to members, King listed his accomplishments, which included preventing the introduction of capital gains taxes “not once, not twice, but three times,” continuing to

The owners of one New Zealand home are offering a free Tesla to potential buyers to boost interest in their property as the housing market continues to decline. Brand new Tesla and brand new home: that’s the tagline for an ad for a five-bedroom property plus a granny apartment in Auckland. High mortgage rates have scared away many would-be purchasers in New Zealand’s property market, contributing to a steady decline over the past year. The latest statistics from the Real Estate Institute of New Zealand (REINZ) reveal that the yearly drop in the median house price was 10.9%, to $825,000.

The Real Estate Institute of New Zealand (REINZ) reports that rising interest rates are deterring purchasers from entering the housing market, even though there are almost 75 percent more homes available than at the same time last year. It has issued its October statistics, which indicate a 1.9% rise in the national median price compared to September but a 7.5% decline year-over-year. The monthly national median price was $825,000. The institute’s House Price Index (HPI), which gauges the changing value of residential property throughout the country, showed an annual decline of 10.9%, or 12.4% from its November 2021 high. According