Vital Healthcare Property Trust, the owner and hospital property developers have acquired the Lower Hutt real estate from Boulcott Hospital. With that it also entered a long-term lease with Pulse Health Group in Australia that bought the operating business in the current month at an earlier date.

A local real estate agent said, although there is a high rate of interest seen among the Auckland property buyers for Whanganui properties, but not the inquiries that come in are converting into sales deals.

Since the financial markets crashed and the U.S real estate market experienced a downturn, the key players involved in the commercial real-estate industry has put in great efforts to convince lawmakers to turn around a law established in1980s which aimed at curbing the reach of foreign investors from digging deeper into the U.S. property market.

The Auckland Council for long has been reworking on the housing densities that was settled in 2013 followed by the argument from the independent hearing panels that the plan did not suffice for providing adequate housing capacity.

On Friday, leading economists who follow the home sale industry said that after two years of spiking home prices, it is expected to follow a moderate pace in 2016.

The continuous shortage in supply, higher mortgage rates and the cooling economy in some of the states should help in bringing down the home rates. Along with that the sales will also increase.

According to the monthly index of Trade Me, house prices in the Bay of Plenty have become the next most expensive region following Auckland.

The asking prices for property in October in the Bay of Plenty were eleven percent more as compared to one year earlier which touched an all time high of $483,000.