Aging population will also help to keep the averages down (more elderly = more one or two people households). It is what is happening at the margins that is important, and I suspect you are right Bjauck.
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In the linked pdf from W69...look at the graph "Number of People Per Private Dwelling" since May 2008 it has been increasing. Of course that could mask what has been happening in the poorest households...the number of occupants per dwelling could have been increasing at an even higher rate in those households. in addition of course the situation has been more exaggerated in Auckland than with national figures.
From the pdf...."In light of all the factors that determine the level of building, including new housing costs, what has been built largely reflects demand. This isn't the same thing as saying there aren't lots of people living in unsatisfactory housing conditions." (my emphasis)
The housing crisis (if there is actually one) won't be fixed until we treat houses as homes and not as stores of wealth
I'm calling a top in the Auckland property market and currently have my apartment up for sale
I've owned it a long time so I'm not really a trader, but at this point I want the money.
I will of course have to live somewhere so I will move to the country and semi-retire.
if your apartment is in that golden most desired central circle in which there is more water than land i cant see much happening to prices, demand/desire will always exceed supply.
it certainly is JT,
in case anyone wants to view my little world and consider an investment or a lifestyle living here is the advert.
https://www.trademe.co.nz/Browse/Lis...?id=1523153760
Great location Peat, hope you got more through auction. First thing i would do is make the bed a swing down one. Where to next?Good luck
My sale has now gone unconditional. 4 weeks all up. (Oh and another couple until settlement). Not bad liquidity for property.
Now I just want to make this perfectly clear that I have never been a property speculator. But as a person in NZ I have simply recognised the importance of tenure.
And so back in 2001 when I tried to rent for a while, after selling a Kingsland villa, it wasnt three months till the landlord wanted me to let viewers through the property. I was livid about that and said no, I am moving out thank you as I am not living in a property on the market - no quiet enjoyment!
So I bought my current apartment
16 years later the price has tripled and I can bank half a million gross profit (untaxed of course). So given I put a hundred K into the venture that would approximately equal a five bagger.
I just couldnt resist and now the deal is done.
And because I am moving to a completely different property market I get to keep half the spoils.
Thanks Auckland
Great work peat ... property alway been a great way to accumulate wealth