Property

The Otago Peninsula house at 100 Camp Rd, which was subject to a mortgagee sale, has been sold.

The number of farms sold continued to fall over summer, with just 205 sales in the three months to February, less than a third of the number of sales reported for the corresponding period in 2008.

Will rents go up if the Government moves against property investors? Unlikely, suggests Peter Lyons, who nonetheless counsels against sudden or radical change.

While property values in Dunedin are still increasing, values in Waitaki, Central Otago, Clutha and Southland appear to be sliding.

About 50 workers have been pulled off Queenstown's $1 billion Kawarau Falls Station development following a dispute between contractors.

A Maori trust with financial backing from Dubai interests has scaled back the number of Southland farms it intends initially buying from 28 to 10, but the deal could face further delays, as it appears Overseas Investment Office approval is required.

Five properties will be added to the Lake Hayes water scheme, after the Queenstown Lakes District Council's utilities committee approved an extension to the scheme.

Houses wanted as market recovery indicated

House sales plummeted last month to their lowest level in nearly two decades, says the Real Estate Institute of New Zealand (REINZ).

An Arrowtown-based trust has applied for resource consent for a five-lot subdivision in Arrow Junction Rd.