http://www.nzherald.co.nz/business/n...ectid=11447214
Not before time. Those who are buying a residential property to actually reside in should be given preferential treatment.
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http://www.nzherald.co.nz/business/n...ectid=11447214
Not before time. Those who are buying a residential property to actually reside in should be given preferential treatment.
WIll the new rule make any impact on the property market? Will the prices start to decrease when it comes into effect in october? Or even earlier? Or nil?
Well, let me put it to you this way... you can side-step a turd but you can't avoid the freeway.
We've had Net ~50,000+ move to NZ in the last year vs less than 10,000 new homes built in AKL. It is fair to assume that at least 50% of those moving to NZ will settle in Auckland.
Therefore, both rent & house prices will increase.
http://www.stuff.co.nz/life-style/ho...lls-for-677000
Suppose a decent piece of land in a desirable part of town
It will be interesting to see if there is a scramble for property before the new rules come into play...
The item mentions the RE agent saying that overseas investors are willing to pay "just about anything " for AKL property. What is still needed...more than the the RB and budget new requirements is a stamp duty on off-shore purchases or a residential requirement...restricted to Auckland if necessary.
Auckland housing bubble is great threat to the economy and banking system in the country.
Ha Ha as long as the wind is blowing the right way
real estate agents are selling mangere bridge as the new ponsonby,
those of us that live there know its just mangere[/QUOTE]
Lol, don't u forget though, 20 years ago ponsonby was mainly state houses, they were cheap as dirt compared to epsom, mount eden and remuera...
Not saying that mangere will ever reach the level of ponsonby, but the outer skirts are increasing in price by a lot
You keep saying it's a bubble? BUt how? You have not stated any good facts to back it up?
Doing a lot of research on the irish house bubble and comparing it to the akl property market, there are a lot of differences, huge differences...
The number of immigrants is not even on par...
Then there is the supply and demand problem for ourselves not even accounting for the foreigners...
I just don't see a bubble, maybe a correction, but a bubble?