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12-10-2016, 02:42 PM
#401
![Quote](images/misc/quote_icon.png) Originally Posted by Lewylewylewy
... Well, it looks like the property market has had it's pause and is starting up again ![Smile_2](images/smilies/001_smile.gif)
.....what's the news?
”When investors are euphoric, they are incapable of recognising euphoria itself “
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12-10-2016, 07:55 PM
#402
Member
![Quote](images/misc/quote_icon.png) Originally Posted by NeverQuestion
Talking with one of the Guys at work around the housing situation in Auckland.
He was saying that he is moving because the landlord is trying to sell up.
So he decided to go to the action and see how much it went for.
According to him the place didn't sell and alot of the other places didn't either.
Talking with one of the officials at the Auction room apparently sales are down 80%.
Ever since the new LVR was applied to investors a few weeks back ![Mellow](images/smilies/mellow.gif)
Here is some evidence to back this one..but more like 50% It seems (people have a habit of exaggerating the truth a bit )
tbh there is a lot of anger and resentment among my fellow Millennials on this topic, so watch this space i guess...
http://www.nzherald.co.nz/property/n...ectid=11727694
Last edited by NeverQuestion; 12-10-2016 at 07:56 PM.
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13-10-2016, 10:59 AM
#403
Member
REINZ data out this morning
http://www.interest.co.nz/property/8...ountry-buoyant
Auckland Median price drops
Auckland volumes down 23% pcp
Fresh record highs elsewhere in the country (Usually lags Auckland)
Also drop in sales numbers in Waikato/BOP (-22% pcp)
Adjusted median days to sell lifted for first time in 5 months
Looks like new LVRs are having an effect on investor demand, along with a general tightening of credit conditions.
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15-10-2016, 03:52 PM
#404
![Quote](images/misc/quote_icon.png) Originally Posted by Mush
REINZ data out this morning
http://www.interest.co.nz/property/8...ountry-buoyant
Auckland Median price drops
Auckland volumes down 23% pcp
Fresh record highs elsewhere in the country (Usually lags Auckland)
Also drop in sales numbers in Waikato/BOP (-22% pcp)
Adjusted median days to sell lifted for first time in 5 months
Looks like new LVRs are having an effect on investor demand, along with a general tightening of credit conditions.
It did hault after the LVR change, but it looks like sales are starting up again
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23-11-2016, 09:36 PM
#405
Member
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31-12-2016, 11:13 PM
#406
It is hard to spot a bull market top for any asset. The best example is Auckland housing market. It is still roaring despite being one of the most overvalued property markets in the world.
http://www.radionz.co.nz/news/busine...-up-13-percent
Auckland house listings up 13 percent
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04-01-2017, 08:27 AM
#407
Inherited Wealth and Parental Help Needed for Auckland First Home Buyers
A generation more or less shut out of home ownership without wealthy family help?
PM John Key's legacy of doing too little too late?
http://www.nzherald.co.nz/personal-f...ectid=11767878
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04-01-2017, 09:07 AM
#408
![Quote](images/misc/quote_icon.png) Originally Posted by Bjauck
The result of too many people wanting to live in the same street, suburb or city? a.k.a demand?
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04-01-2017, 02:24 PM
#409
![Quote](images/misc/quote_icon.png) Originally Posted by fungus pudding
The result of too many people wanting to live in the same street, suburb or city? a.k.a demand?
Yep...limited new supply and demand for property from owner-occupiers, local investors, returning Kiwis, migrants, foreign investors and a government (both the previous Labour and current National) saying for so long there is no problem or it is Council's responsibility. For a start, is it time to prioritise those who want to buy a house to live in and introduce stamp duties for other purchasers? Or is too late for that, as a bubble could be burst?
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04-01-2017, 02:30 PM
#410
![Quote](images/misc/quote_icon.png) Originally Posted by Bjauck
Or Auckland Councils' legacy of restricting land availability? And developers going bust in the GFC didn't help.
That article quotes the average national price in November 2016 as $624,675 and Auckland average as $1,051,000. But the median prices were $520,000 and $852,000. So nationally half of all sales were less than $520,000 and in Auckland less than $852,000.
Still big numbers for Auckland but not nearly as bad as banging on about averages as the media does.
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