Waitomo News : 18 October 2018
Covering the North King Country since 1906 – one paper, total reach Thursday, October 18, 2018 ISSN 1170-1137 – (290) ews your news, your views wAiToMo FREE Find the perfect temperature Whether you are looking to warm uporcooldown... Call Guy for your no obligation quote today! Te Kuiti Rora St, Te Kuiti P 07 878 8147 Otorohanga 66 Maniapoto St, Otorohanga P 07 873 8871 Deluxe E-series air conditioner Formerly 100% Te Kuiti 171 Rora St, P 07 878 8147 Otorohanga 66 Maniapoto St, P 07 873 8871 By Heather Carston BUYING a home in Te Kuiti is at a premium, with stocks of both properties for sale and for rent at an all-time-low. A quick glimpse at both realestate.com and Trade Me showed less than 70 residential proper- ties available last week – and no rentals. Ray White’s principal (based in Te Awamutu) Gregg Tickelpenny says the “halo effect’ of city- dwellers spreading out to the provinces remains a driving factor as people cash up and want mortgage-free property. “Or something they can afford a mortgage on with the current low interest rates [and a] commute to cities such as Hamilton – but new legislation governing landlords is creating un- certainty too,” he says. “ The Brightline test, which stops people sell- ing an investment property without paying tax on that, changed from two to five years. So that’s slowed investors coming back in.” Many, he says, are also letting their portfolios go because of planned upcoming legislation changes that appear to markedly favour ten- ants — and this is an opportunity for first home buyers. Some law changes, such as the need to insulate all rental homes, have been in the pipeline for four years and will become mandatory by July next year. NEW REGULATIONS Other new regulations are still in the pipeline. Such as the mandatory allowing of pets and to severely curtail the remedies a landlord has in evicting a problem tenant. This means that despite the Government’s assurance it wouldn’t happen, landlords are simply choosing to shed their rental properties and invest elsewhere. “What makes me think though, is that in- frastructure has not kept up with migration,” he says. “ “We now have a population of nearly five mil- lion — 20% more than 10 to 15 years ago and this has created huge pressure on supply. SEVEN-YEAR CYCLE Some industry comentators believe councils everywhere have to share part of the blame with their land-banking policies of the 1980s and 90s creating the adverse conditions today. to page 3 OTOROHANGA District Council has released a document explaining the pro- cess involved with the proposed workers camp at the Island Reserve. ODC has been approached by CPB Contractors — the construction company awarded the contract to build the new 600 bed facility at Waikeria — to consider accommodating workers during the three- year construction period. However, several community members and residents who live near the Island Re- serve are opposed to the proposal. OUTLINE The document outlines that for council to permit such a camp to be established, two things would have to happen — the ODC would have to give permission for its land to be used for this purpose; and CPB Contractors have to be successful in obtaining a Resource Consent for ‘land use’ for the camp. “Council believes that these two things should be linked together and that coun- cil should only consider giving its final permission to use the land if CPB is suc- cessful in obtaining the necessary resource consent” says ODC chief executive Dave Clibbery. “And f the information obtained during the process to obtain consent — which will include consultation with potentially af- fected parties — supports a view that hav- ing the camp at that location is in the best interests of the community as a whole,He explains that the Otorohanga Community Board has indicated its support to further explore the opportunity, but the legal authority to make the final decision rests with mayor Max Baxter and councillors. Workers camp doco released to page 3 Housing stock crisis THE shortage of both properties for sale and properties for rent has reached a critical point says Ray White Te Kuiti’s real estate consultant and property manager Buzz Linn.
16 October 2018