THE National House Buyers Association (HBA) advises against en bloc sale of units in strata properties.
Its secretary-general Datuk Chang Kim Loong said that while the move would benefit the majority of residents who agreed to any redevelopment, it would be unfair to the minority.
“Forcing people to sell their units is not right, ” he stressed.
En bloc sale is where strata property owners collectively agree to sell units in their building to one buyer.
In April 2019, The Star reported then Federal Territories minister Khalid Abdul Samad stating in Parliament that the government would be putting forward a new piece of legislation to ensure an effective and implementable urban renewal process, which at the same time would bring more clarity to en bloc sale.
New housing price figures show the average price of entry-level houses in Ruapehu has increased by more than 70 percent in the last year.
The latest Quotable Value (QV) Quartile Index shows house prices rising in the lower end of the market (file image).
Photo: Unsplash / Nick Sarvari
The latest Quotable Value (QV) Quartile Index showed the rise in the central North Island district was by far the largest price increase for homes in this bracket of anywhere in the country.
The next biggest jumps were in Buller, where there was a 55 percent increase, and in Southland, where the increase was 47 percent.
House prices continue to soar; biggest gains in entry-level properties - QV
20 Apr, 2021 05:12 AM
3 minutes to read
QV says its latest data shows precisely how difficult it has become since lockdown for Kiwis to take their first step on the property ladder . File photo / RNZ
QV says its latest data shows precisely how difficult it has become since lockdown for Kiwis to take their first step on the property ladder . File photo / RNZ
RNZ
New house price figures show the average price of entry-level properties in Ruapehu has increased by more than 70 per cent in the last year.
The latest Quotable Value (QV) Quartile Index showed the rise in the central North Island district was by far the largest price increase for homes in this bracket of anywhere in the country.