Red tape adds to home costs, developers say
Bureaucratic red tape is adding about $80,000 to the cost of a new home in Hamilton, according to developers.
That's due to both local and national regulations, they say.
And now Hamilton City Council plans to remove a carrot for central city developments, Yeoman Homes may stop building CBD apartments, managing director Andrew Yeoman said.
Council plans to phase out a remission that effectively meant developers didn't have to pay development contributions on central-city projects.
"Red tape definitely adds $80,000 if not more to the cost of a house," Yeoman said. "But it's not all Hamilton City Council rules that make that up - a large amount of that is government regulations."
"In the 17 years I've been building, I'm just astounded at how much costs have increased.
Read more here.
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Bargain or big risk? Crown puts Huntly subsidence home on the market
A Crown-owned subsidence property has come on the market, but whether potential buyers reckon it’s a bargain or risky buy is yet to be seen.
While some might view the Huntly east property as a bargain, Huntly real estate agents reckoned living on top of the mining zone makes some buyers nervous they’re going to “just sink one day”. Although, the agents are fairly confident the area is safe.
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