When purchasing property many people focus on title, price, and finance. However, district plan rules are also important and can significantly affect what you can do with your land.
The Queenstown Lakes District Council has approved major planning changes through its Urban Intensification Variation. These changes will affect building heights, subdivision potential, and the future character of neighbourhoods across Queenstown and Wānaka. This article outlines the key changes and what they mean for property owners, developers, and the wider community.
A recent court decision highlights the serious financial consequences of failing to settle a property purchase once a sale and purchase agreement becomes unconditional. In this case, a purchaser was ordered to pay approximately $1.1 million in damages after defaulting on settlement.
AA Insurance has stopped offering new home and landlord policies for parts of Westport because of the town’s significant flood risk, even though existing policies remain in place. This is widely expected to be the first of many similar decisions around the country.
If you are considering buying, selling, or renovating a cross-lease property, it is important to understand how the structure operates, what issues to look out for, and how to safeguard yourself against avoidable legal complications.
The rules around overseas investment in New Zealand property have always been a sensitive topic. Learn more about the small but significant change the Government has introduced.
