Auckland housing market

[Aaron]

So what if it is Xenophobia. I reckon you should have to hold a NZ passport before you can own land in NZ. Maybe get some facts so it doesn't have to be a phobia but based on what is actually happening in NZ and get a govt that can decide on what is best for the people of NZ. Where is the money coming from. If Auckland house prices are being bid up by cheap foreign computer generated currency then real assets in NZ are being purchased with fiat currency from overseas which doesn't seem right to me. Maybe the Chinese investor quoted in the herald is right, that "we need to work harder" or as another option I would propose, maybe he can just f**k off back to China. Foreign investment is good for the country, maybe but foreign ownership of existing NZ assets, I'm not sure it is a benefit to the people of NZ. This is a link to an article regarding the benefits to NZ of foreign ownership of some of our countries assets. http://www.stuff.co.nz/business/opin...hidden-baggage

[Harvey Specter]

Yes, correct! The answer is "all of the above." China's stocks markets have been swinging wildly since the middle of last month. One minute shares are up 6%, the next they're down 5% and plunging into a bear market. The main Shanghai market lurched lower again Thursday, dropping 3.5%.

no wonder they are buying our houses!

[IAK]

A good start may be to collect some accurate data.

[Aaron]

Tony Alexander has jumped on the band wagon, which is surprising as he is one of the biggest real estate cheerleaders around.
http://www.stuff.co.nz/business/mone...roperty-buyers
I think it is an important issue, regardless of which foreigners are doing the buying. Susan Devoy probably had to say something due to her role but looks like a bit of a moron if she can't distinguish between the issue of foreign ownership of NZ and race. I don't care if they are white and speak English. If they are foreigners do young NZers need to be competing against them to buy a house. I guess baby boomers will be fence sitting on this issue as they will see the foreigners as the best way to keep their house prices up as the next generation on NZers coming out of University will have a student loan to deal with before they even consider buying a house.

[Bjauck]

The scale of foreign involvement definitely needs to be more accurately quantified. However I think that Australian type requirements need to be introduced immediately.

The worry with so many unrestricted foreign buyers is that when a more enticing destination develops for their money, they could could dispose of their NZ investments as quickly as they bought them, causing major problems and destabilising the market for NZ residents.

[vorno]

The scale of foreign involvement definitely needs to be more accurately quantified...

Mate, go to a few auctions & open homes - you build up a picture of who is buying pretty quickly.
A thorough investigation would be good though, but then... how is the information stored/sort after?

[Bjauck]

Mate, go to a few auctions & open homes - you build up a picture of who is buying pretty quickly.
...

How so? How can you tell who is foreign?

[vorno]

How so? How can you tell who is foreign?

Mannerisms, language & simply talking to them. It is surprising - the amount of folk who don't speak English properly tends to indicate that they are not from here! One such example was a guy from Hong Kong, he had some language issues but we got talking - he was looking here for the good investment opportunity, since housing is extremely expensive in Hong Kong & the limitations here are few. I didn't ask if he was moving here though.

[Bjauck]

Mannerisms, language & simply talking to them. It is surprising - the amount of folk who don't speak English properly tends to indicate that they are not from here! One such example was a guy from Hong Kong, he had some language issues but we got talking - he was looking here for the good investment opportunity, since housing is extremely expensive in Hong Kong & the limitations here are few. I didn't ask if he was moving here though.

If speaking English "properly" is a sign of being foreign....then that would include most of us - depending on what you mean by properly. Perhaps it is just as well HM Queen Elizabeth II owns the most land in NZ then. My former neighbour was born in Hong Kong and spoke Cantonese with her family. She was pleased when she became a NZ citizen after being a permanent resident for some time. English is a second language for her. I don't think she could speak Maori.

[Jay]

So on that basis vorno Maori who do not speak English properly must be foreigner's as well then

Point is there is no way easy way to tell, just like the "research" that if they had a name like Wong or something they must be a non resident, same with O'briens, MacDonalds, etc etc ... hang on my name is French, I must be a foreigner as well, never mind that my sibling, my parents and one each of my grandparents were born and bred here.