Is that a uptrend in Auckland or the entire country?
Printable View
http://www.nzherald.co.nz/business/n...ectid=11465066
Property Institute warns of 'apartment bubble' in Auckland
http://www.stuff.co.nz/business/6837...shades-of-1987
The Auckland housing bubble and shades of 1987
Please note that I do not endorse or take responsibility for material in the above hyper-linked sites.
I think it bizarre of Len Brown and the Council in calling the transport levy a targeted rates levy. The same amount applies to a one bedroom downtown apartment, whose occupant rarely use a car or public transport and to a 5 bedroom lifestyle urban fringe property, whose multiple single occupant SUVs clog up the motorways morning and night. It is simply another addition to the regressive Uniform charge and will do nothing to ease congestion.
The more targeted way of raising money for transport AND helping to reduce the use of congested roads would have been the congestion charges, motorway tolls and Auckland petrol tax. Opinion polls had supported them but Central Government ignored Auckland opinion. So we got the blanket transport levy which will not discourage road use in the same way as truly targeted charges. Thereby making ever more expensive, disruptive and destructive roading plans even more necessary.
"Estimated mortgage repayments would now set the typical Auckland entry-level buyer back $821.83 a week, eating up 54 per cent of a couple's after-tax pay, according to the report. This is up from 45.8 per cent in May last year and 38.1 per cent in May 2013" http://www.nzherald.co.nz/business/n...ectid=11472652
With investors, foreigners and immigrants chasing the ""World Class" City's property looks like first home buyers will have to wait until they get an inheritance. If you are from a big and/or poor family, tough luck, because it does not look like the Government or "Super" City are going to co-operate and help take the heat out of the market.
With the freeing up of Chinese capital, a cheaper NZ dollar and lower interest rates, it looks like more heat will enter the Auckland market...
Yip,
And thanks to the LVR restrictions and Kiwisaver cap of $550,000 in Auckland there is no chance for kiwis on an average wage that come from a poor family of owning their own home in Auckland
Will be watching Parliament TV with interest this week.. I wonder what Nick Smiths definition of "Affordable Housing" is now
Anyone got thoughts on what's going on with Chinese stock markets & if they continue to get smashed with a nice little kick from Greece how that could impact the Auckland property market?
It would be interesting to have a handle on the leverage of some of these Chinese buyers & if margin calls for stock positions could see a flood of house sales.
Interestingly the Chinese government removed the Margin call restrictions on stocks today (Emergency measures) in an attempt to prevent a crash...
Basically the brokers are no longer forced to call in the loans to Chinese investors on the stock market if their shares drop rapidly
They have also allowed investors to use their houses as security on loans used to purchase shares on the stock market
This hasn't worked today as the Shanghai Composite has again closed down 3.4%
http://money.cnn.com/2015/07/02/inve...stock-markets/
Fill in the blank: In recent weeks, China's stock markets have __________________.
- A) Wiped out as much as $2 trillion of investors' wealth.
- B) Swung by as much as 10% in a matter of hours.
- C) Scared the living daylights out of millions of shareholders.
- D) All of the above.
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%.
Once the Chinese market settles & it will, it will be an opportunity.
Pity I can't trade it!
Probably a smart move by the Government to pull the margin call requirements as will help stop contagion i.e. having to sell other assets to fund margin calls. Most of these listed entities are State entity using the stock market to borrow money. So probably a free put there in that regard.
http://www.stuff.co.nz/business/mone...nto-scapegoats
It would not be racist to have a requirement that overseas buyers pay either a stamp duty when buying Auckland or NZ property, or be limited to investing in building new houses. Otherwise more Aucklanders will become tenants to foreign absentee landlords. Would that be a good thing? I cannot see why the NZ government finds it difficult to give preferential treatment for NZ residents in owning NZ residential housing.