Not necessarily good land though. Take the new residential going up around Marshlands - now I wonder why they call it that. Or Pegasus town - being built on one great big sand pit.
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'Plenty of land", -Doctor,
'Not necessarily good land' -Minimoke.
Both true.
Even if NZ went to 'only' 8 million people - that's still low, but the price per acre was low to start with and then going to only some small fraction of Tokio prices still brings a high proportional yield - the usual thing input cost vs return.
And then again - a lot of NZ is swamp, mountain, scree slope, terminal moraine, flood area, sunken ria, or fjord.
From memory, NZ is about 15 people per sq km, UK is 620 odd - - but I can't see the UK going from 620 to 1240 per sq km without a truck load of trouble, whereas it wouldn't be too much of a stretch to imagine NZ going to 30 per sq km. About 8 million people wouldn't be an insane proposition(?)
PS - When I was born in (mumble mumble) I think the population was around 1.5 million - it's a bigger jump to 4 million since then.
Errata:
The population density for the UK is 'only' 426 - not the 620 I took off the top of my head stated above. Sorry folks for not checking figures before chucking them all over the net.
(Still doesn't change the basic story though).
From the NZ Herald:
"Migrant growth could mean good news for property market , say economists.
A migrant-driven boost for the New Zealand property market is being tipped by economists studying new visitor arrival numbers released this morning. "
http://www.nzherald.co.nz/business/n...ectid=10573704
in the meantime, people are losing their jobs, or wages are frozen,
and houses are still out of reach of most younger buyers.
it still takes hubby and wifey working really hard on good money to purchace a house.
still lots...... if not most young people unable to afford their first home.
govt is getting into the red big time, so housing suppliments (rent payments) will be targeted at some stage.
house prices going up?
i wonder who is buying them?
speculators jumping in hoping to beat a dead market..........
untill an average worker can buy an average house close to his or her factory, like all the 40 year old plus folks could do 10 - 15 years ago, property is/ will be out of reach for all but the rental investors, and the older generation that bought when homes were affordable for the average worker.
sooner or later the oldies have to sell, and the new generation have only so much buying power.
disc........
begining the process of adding 120sqm to our house......
suppliers and tradesmen are bending over backwards to offer great deals.
looking forward to seeing the final build costs.
I'd have to recheck - but something along the lines that the breeding generations aren't producing enough kids and there is a wave of people coming through who will be dying around then. Immigration isn't expected to make up the balance.
As a bit of an aside it is this, and other governments aim to keep the aging population out of the healthcare system. This measn that as we get older we will have to stay in our homes (and not vacate them to go to old folks homes and hospitals). Its likely we'll also have to house our Careres who will live with us - or will want accomodation nearby - so this will keep demand for housing up particular those properties which are "elderly friendly".
more 'immigrants'....an increase in the refugee quota will definately boost the housing market!
Is that a sarcastic comment?
I personally know a number of refugees in NZ who have worked from nothing to owning a portfolio of investment properties. In fact, one refugee I know now owns a property portfolio of over 30 residential houses.
Refugees tend to work much hard and save more. They keep a low profile and are usually under the radar.