No, speaking properly is a sign of being a South Islander!
;)
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No, speaking properly is a sign of being a South Islander!
;)
My surname is French but that side of the family came to NZ generations ago - from Ireland. I wonder what the Labour Party would do with that one!
I still think that foreign (to be clear, foreigners resident overseas) buyers should be restricted to building new houses if they wish to buy property here).
North of Balclutha maybe, don't roll your R's do you Macduffy.
Anyway to me the issue isn't race it is the wholesale selling of NZ land to foreigners any foreigners. It just happens that currently they are mostly from Asia and yes a lot of racist kiwis would be more comfortable if it were Poms buying all our land keeping their house prices up but I think it doesn't matter where they are from don't let foreigners buy land or existing assets in NZ at the expense of our young people. Invest in NZ maybe, build new houses or businesses for sure. The only thing that makes the Chinese situation worse is that we don't have any reciprocal opportunity to buy land over there as far as I know.
I also appreciate that we are a country of immigrants but I like the fact that NZ doesn't have a huge population. Japan and the UK are the same land size as us but is their quality of life any better than ours. I don't know.
If New Zealanders are against foreign property buyers, then why do we sell to them in the first place? It seems that money in our own pockets trumps any moral indignation.
For sure, it depends if you see unaffordable housing as a problem for the younger generation. If you own houses already it is the opposite of a problem. I don't think any NZer would turn their nose up at a higher offer from overseas. That is why you have a central govt deciding what is best for the country over what is best for the individual wanting to sell their house. Assuming Auckland's rising house prices are a problem, debate and action around supply has/is taken place and from what I read supply won't keep up therefore the next step is look at demand. Is there a way to curb demand. Restricting immigration and/or foreign ownership is one way. I would suggest that the States, China , Europe etc stop expanding the money supply so rapidly. They have got inflation and the speculators are doing well but is it good or is it destabilising time will tell.
As a rule its not a problem, however when the stats are as scew as they appear to be the simple fact remains - there are too many people with too much money pushing up the market. A different to way to look at it is simply the investor vs ownership numbers.
I'd prefer not having to move out of Auckland in order to afford a house, but that is looking increasingly unlikely.
That's an interesting point. As a generalisation, NZers outside Auckland probably would want to see some monitoring of, and controlling of foreign property purchasers. Aucklanders who are not property owners, likewise. Auckland property owners, not so concerned with a good number cheering on the price rises and unrealised wealth increases that this ostensibly confers on them! So ........ it depends.
That's an interesting point. As a generalisation, NZers outside Auckland probably would want to see some monitoring of, and controlling of foreign property purchasers. Aucklanders who are not property owners, likewise. Auckland property owners, not so concerned with a good number cheering on the price rises and unrealised wealth increases that this ostensibly confers on them! So ........ it depends.
I would have picked that the other way round. Certainly it seems to be Aucklanders who are railing against high prices which may - or may not, who knows - be caused by offshore buyers. Outside Auckland, not so much and in some places a fillip to prices might not be so unwelcome.
Auckland's rising population and housing supply imbalance means there are more voices raised against unaffordability. And a lot of media attention too, which might be giving the issue more airtime than it actually warrants.
I don't think that rental data takes account of people who rent from their family trust (and may or may not be settlors), or from their mum and dad. We have up to half a million trusts in NZ, nobody knows for sure but that number is from the Law Commission's recent reports on trusts. Many trusts will own the PPOR of the settlors.
People who rent from mum and dad - again how many is unknown - are often close to being owners, paying off the olds mortgage and eventually inheriting the house. So probably counted as renters and they are .... for now. But a long way frombeing your usual renters.
What the article did not refer to is that Auckland home ownership rates have dropped even faster than NZ-wide rates - as previously discussed on this thread. From memory the last census included questions on trusts and whether the home was owned by a family trust. Under NZ law if you (the settlor) have your house in a family trust, you can live in it (derive benefit from it) and retain as much de facto control over it as if it were not in trust, which makes a mockery of the traditional concept of a trust.
Even many existing Auckland home owners are being hurt by the rising Auckland prices for example if you want to sell and get a bigger property etc. Those who are benefiting the most are those who are trading down or moving away and, of course, investors who want as much untaxed capital gain as possible.
So it is a big issue, as many potential first home owners (those who do not have a wealthy family or family trust to help out) are priced out of their own home market. Many existing home owners are being priced out of trading into bigger homes as their circumstances change. All while domestic investors and non-resident foreign investors enjoy making money out of ever-increasing capital gains. It seems to be an us and them situation. Guess which side the government inaction favours.
Much debate in the herald this morning. Although only an opinion piece Peter Calder was expressing what I am thinking. Although I am not angry. I noticed in amongst it all the articles mention of the scrapping of govt loans to home buyers or the capitalisation of family benefits to buy a house as well as large state house construction. We can't afford these things now but national super can't be means tested. What a lot of bull****. The greedy generation is happy to sell out to foreign buyers ahead of a younger generation. They are the ones young kiwis should be talking to, asking for a fair shake. 40 National MPs are property investors that might be why Steven Joyce doesn't seem too concerned about foreign buyers.
Anyway John Key is doing something useful unrelated to housing so wishing him all the best getting mutual recognition for imputation credits with Australia. Wouldn't that be wonderful.
Anyone been online to have a look at their rates shock today ? Len Brown can't help himself can he ? Not only does he want to screw a poor unfortunate misguided women behind his wife's back he want's to do it too all Aucklanders !! Brown's ambition to create the world's most liveable city is such a pathetic and hollow ambition. No point in creating a really liveable city if nobody can afford to live in it is there !!
Remember it was this little "gentleman" that passed the whopping 9.9% rates increase by the slimiest of margins, his own vote.
Looks like after the base uniform annual charge which I think is about $375, you're up for about $267 per annum per $100,000 of capital value...so anyone with a $10m mansion in Epsom, Remuera or elsewhere is being "done" for just on $27,000...which by my way of thinking means effectively you don't own that property at all as you're paying about $520 per week to rent it off the council.
ITS TIME FOR A RATES REVOLT !!!!!! Just stop paying them and claim its a breech of your human rights !!