NZ Urban Development news from the media | 17 January 2023 | Multi-unit homes keep consents at high levels

Multi-unit homes keep consents at high levels

There were 50,209 new homes consented in the year ended November 2022, up 3.2 percent compared with the year ended November 2021, Stats NZ said today. 

There were 28,364 multi-unit homes consented in the year ended November 2022, up 24 percent compared with the year ended November 2021. The number of stand-alone houses fell 15 percent to 21,845 over the same period. 

“Home consents remain at high levels mainly due to the continued rise in the number of multi-unit homes being consented,” construction and property statistics manager Michael Heslop said.   

https://www.stats.govt.nz/news/multi-unit-homes-keep-consents-at-high-levels/

Healthcare real estate company reports $65m fall in property portfolio value

A healthcare real estate company that invests in hospitals, out-patient, aged care, and research facilities has announced an estimated $65 million fall in the value of its property portfolio over the last six months.

Vital Healthcare Property Trust (VHP) has 47 properties across Australia and New Zealand, and made the announcement to the NZX on Friday morning following an independent valuation of just over half of the company’s properties.

The trust’s overall portfolio was valued at $3.6 billion at the end of September, and the fall in property values would represent a 1.9% fall since the end of June.

https://www.stuff.co.nz/business/130919306/healthcare-real-estate-company-reports-65m-fall-in-property-portfolio-value

City hotel on track to reopen after insurance deal made nearly 12 years post-quake

After over a decade of insurance wrangles, a 14-storey central Christchurch hotel is at last on track to be repaired and reopened.

Owner Emmons Developments has settled its $190 million insurance claim on the former Rydges/Noahs hotel on Oxford Tce.

The vacant building was on the Christchurch City Council’s “Dirty 30” list of sites considered barriers to the earthquake rebuild.

The property includes the retail and parking building alongside, and the cleared site of the demolished 12-storey Grant Thornton office building facing Cathedral Square.

https://www.stuff.co.nz/the-press/news/130733375/city-hotel-on-track-to-reopen-after-insurance-deal-made-nearly-12-years-postquake