The government restores interest deductibility on investment properties Updates on tax reform have been announced, with Associate Finance Minister David Seymour announcing that the government will reinstate deductibility for mortgage interest on residential investment properties. The government will phase in interest deductibility on mortgage interest paid on residential investment properties. Landlords will be able to claim 80% of interest expenses from April 1 2024, moving to 100% from April 2025. The modification to the interest limitation rule will be included in the Taxation (Annual Rates ..read more

Click here to see the full article from OneRoof here. ‘Broke $9m’: Christchurch house price record smashed for second time in a matter of weeks Christchurch’s house price record has tumbled for the second time in less than a month, after a large property on the hillside suburb of Scarborough sold off-market for more than $9 million. Harcourts Holmwood agent Grant Chappell, who brokered the deal, told OneRoof he was unable to disclose much about the sale but he was confident it was a new high for the city’s housing market. Last week, OneRoof reported industry rumours that prominent Christc ..read more

There is no such thing in the Residential Tenancies Act (RTA) as a month-by-month tenancy, however, we are sometimes asked to give a tenant a months’ notice, so let’s clear this up. The closest thing to a month-by-month tenancy is a short fixed-term tenancy. However, if a short fixed-term tenancy exceeds 90 days, it is then deemed to be a periodic tenancy, and it was still a ‘fixed-term’. Most of the time residential property managers deal with either periodic, or fixed-term tenancies. It’s very important to know the differences between a periodic tenancy and a fixed-term tenancy for both land ..read more

End of Financial Year Tips for NZ Landlords Published on: 20 Feb, 2024   As the end of a financial year approaches, landlords have an opportunity to assess their property investments and make strategic changes to optimise returns. Proactively reviewing finances, scrutinising deductible expenses, reviewing and adjusting rent, and assessing insurance cover, can help landlords to maximise return and get the most out of their property investment. Conduct a comprehensive financial review Before diving into the new financial year, landlords need to conduct a thorough review of their property ..read more

What you need to know when putting your rental on the market for sale Published on: 22 Jan, 2024 Source: Harcourts.net   Section 47 of the Residential Tenancies Act 1986 (RTA) states that if at any time after entering into a tenancy agreement, the landlord puts the premises on the market for the purposes of sale or other disposition, the landlord must, as soon as practicable, give written notice to the tenant. Furthermore, when a landlord is offering a property for rent, the landlord shall inform any prospective tenants if the premises are on the market for the purposes of sale or othe ..read more

Jo Abel, Harcourts Christchurch/South Island Regional Manager, shares her latest view on the property market in Christchurch. The Christchurch market carried on its steady form throughout October 2023. Days on market held constant at 29 days. A good sign of the continued demand from confidant buyers, which has lent itself to increasing Auction success with a notable number of brought forward sales and multi-offers, often prompting seller readiness. This trend is likely to continue in the short to mid-term.Realestate.co.nz had a 7% increase in unique visits from buyers looking online from Septe ..read more

Join us for an unforgettable evening at The Great Gumboot Friday Gala Auction by Harcourts Holmwood! Providing free access to counselling for children in need is a cause we are incredibly passionate about at Harcourts Holmwood. This year, we are throwing all our effort behind raising as much as we can to support the mental health of our children in Aotearoa. Support a great cause and make a difference with us as we rally behind Gumboot Friday and the I Am Hope Foundation. Your $25 ticket (BOOK HERE) includes a warm welcome with a glass of bubbles and delectable cocktail food. Come together for ..read more

Residential property managers in New Zealand manage approximately 42% of all the residential tenancy market. The Residential Property Managers Bill (the Bill) establishes a regulatory regime that is designed to improve residential property management services throughout New Zealand. Harcourts are delighted to advise that this Bill has now passed its first reading and has been sent to the Select Committee stage. The Select Committee will be open for submission until 12th October and Harcourts will continue our advocacy on behalf of our network and continue to support the excellent wor ..read more

Improved prices and faster results, that’s what June gave us! While this came with a slight downturn in the number of sales from May, the energy around the market in Christchurch has returned. Though the figures don’t seem to indicate the full feeling of the shift, maybe there is a little more to come. On the face of it, some dynamics of the market have settled down; such as OCR remaining unchanged for the first time since August 2021 and money lending policies now allowing first home buyers to reconsider a purchase level that until recently, they most likely couldn’t have gone to. Certainly ..read more

Harcourts Holmwood Champions Children Back to School in 2023 It was our absolute pleasure with the help of the Harcourts Foundation to support eight Cobham Intermediate children back into the classroom this year by providing them with brand-new school uniforms, school shoes, PE gear, stationery, and covering the cost of their camp fees. We know the beginning of the school year is a challenging time, financially for many families. Our management team wanted to ease the burden for some families in our Holmwood community, by ensuring they had everything they needed to get back to school. To suppo ..read more