NZ 1st homebuyers are ScReWeD...

[Aaron]

Two articles together on interest.co.nz

https://www.interest.co.nz/property/...1-june-quarter

The cost of building a standard three bedroom house declined by 1.1% in the June quarter

https://www.interest.co.nz/economy/1...bank-performs-

Economists say interest rates could be cut as soon as August after the Reserve Bank performs ‘dovish pivot’ at July meeting

You either want affordable housing or you don't.

Get rid of inflation targeting and you might get affordable housing. Sad that the speculators have Adrian and the govt (Labour or National) on their side.

[kiora]

"Sydney turns to pod housing to ease rental crisis"
https://www.macrobusiness.com.au/202...+rental+crisis

Reminds me of HK Hotels? Also doesn't Christchurch have a pod hotel?

https://www.lylo.com/christchurch/?g...SAAEgJaYvD_BwE

& the notorious "The Hotel has been developed by Dave Henderson"
https://www.trendhunter.com/trends/so-hotel

[Aaron]

Thought this might discuss solutions for housing but is an article about a charity helping poor families take on more debt, although it sounds like it is working.

https://newsroom.co.nz/2024/07/23/ch...ousing-crisis/

Bernard Hickey in the article suggests a capital gains tax to help alleviate the problem but my understanding is that Australia and Canada both have capital gains tax and house prices like ours, so that can't be the reason.

Perhaps easy money and low interest rates as well as an inflation target is the problem rather than the solution as it is currently being touted.

https://www.rnz.co.nz/news/political...with-new-homes

At least Chris Bishop is trying.

Tiny apartments sounds like a great solution for a third world s*ithole country, great vision for the nation from Chris Bishop, interesting where both Labour and National see us heading as a nation.

[kiora]

"Brian Easton says if the Housing Minister's strategy works it would transform the housing market"

https://www.interest.co.nz/public-po...y+24+July+2024

"The Minister of Housing Chris Bishop's ambition is to reduce markedly the ratio of house prices to household incomes. If his strategy works it would transform the housing market, dramatically changing the prospects of housing as an investment."

[Aaron]

"Brian Easton says if the Housing Minister's strategy works it would transform the housing market"

https://www.interest.co.nz/public-po...y+24+July+2024

"The Minister of Housing Chris Bishop's ambition is to reduce markedly the ratio of house prices to household incomes. If his strategy works it would transform the housing market, dramatically changing the prospects of housing as an investment."

Did you actually read the article Kiora? The conclusion was this.

So will housing prices stagnate to the extent of the Minster’s ambition or will they rise much like they did in the quieter past. Your guess is as good as mine, but I shall be surprised if they stagnate. I am not holding my breath waiting for the flood.

Bishop's plan is as follows:
-The establishment of Housing Growth Targets for Tier 1 and 2 councils
-New rules requiring cities to be allowed to expand outwards at the urban fringe
-A strengthening of the intensification provisions in the National Policy Statement on Urban Development (NPS-UD)
-New rules requiring councils to enable mixed-use developments in our cities.
-The abolition of minimum floor area and balcony requirements
-New provisions making the MDRS optional for councils

And according to Brian Easton

His strategy seems to have evolved over the last five years following the establishment of the Ministry of Housing and Urban Development and is much the same as a Labour Government would have proposed, point-scoring and minor differences aside.

I found this article of interest, a survey (not sure what that means, is it just idiots (much like me)opinions?) it was commissioned by AirBnB as they were concerned they were being blamed for the rise in rents as they took up rental properties, so the result may be influenced.

https://www.nzherald.co.nz/nz/house-...HQR2HQIZIG2LE/

The conclusion

House and rental prices in some of the country’s biggest cities are not heavily impacted by the presence of short-term rental accommodations in those areas, a new survey has found.
Instead, it is population growth and interest rates in those areas that have the greatest influence on rents and house prices in Auckland, Wellington, Queenstown-Lakes District and Christchurch.


That can't be right the discussion is around council regulation and supply of houses. What am I missing? Surely high immigration and low interest rates are not causing the "housing crisis" as these would be easy for any govt Labour or National to change.