OCA and RYM going down and (generally) everything else here and afar going up :(
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OCA and RYM going down and (generally) everything else here and afar going up :(
It is quite ridiculous to have only a $108k approx. addition in the asset test for those in a couple who don’t own a house. With houses these days often worth well in excess of $1m, does this further encourage retired couples to remain in large expensive dwellings as a store of wealth? All part of the inbuilt NZ fiscal efficiency (bias) of building up wealth, for those that can afford it, in residential property I guess.
News tonight says new house inflation is running at 17%.. It is only a matter of time that existing house prices start to increase to reflect the values of houses..
deleted --- keeping politics out of it
Incorrect assumption - biggest impact on property prices is the exorbitant price of land which is falling.
Friend just bought a 500 m2 piece of dirt in Auckland Manukau district for $700k which has a CV of $940k (July 2021) and which had a price tag of $1m beginning of the year.
And there are developers and land bankers desperately trying to get rid of land and sections all around the place.
The number of advertisements of mortgagee sale grow month by month.