Free New Zealand house comes with a catch By News from Elsewhere...

...as found by BBC Monitoring Published duration 11 April 2017

image copyright Dave Rennie image caption Free to new owner - but they have to move the house to a new location

A housing developer is giving away one of his properties for free to a needy family in New Zealand's largest city, but they will have to find somewhere to put it.

Auckland businessman Dave Rennie has listed the three-bedroom property with a zero-dollar price tag, with the proviso that the buyers move it to their own plot of land, the Newshub website reports . Mr Rennie told Newshub that the house is one of 16 he owns, but it stands on land that's due to be redeveloped.

"It seemed like a waste and it was a shame for it not to be utilised. It might be a good starting point for somebody," he said.

According to stuff.co.nz , the single-storey house might be reasonably valued at between NZ$75,000-100,000 ($52,000-69,000; £42,000-56,000). The relocation could cost $24,000 on top of the price of a suitable plot of land.

The offer comes after a report which names New Zealand the most unaffordable property market in the world. Citing a study published by The Economist, Newshub says that the country has shown the highest rise in house prices, is the costliest in terms of average incomes, and has the biggest difference between house prices and renting prices.

Despite interest in the free house, no-one has taken up the offer since it was listed in February, Mr Rennie said.

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