NZX & The Big Housing Bubble

[craic]

Doesn't all this belong on the Off Market thread?

[MAC]

Further signs of a bubblicious market for commercial property companies.

http://www.nbr.co.nz/article/offshor...od-home-168842

[Joshuatree]

Got the below from John Ryders newsletter.Happening globally? With the possibility of interest rates going negative(some countries are now) Investors dont want to be holding cash, property and shares are the bubble beneficiaries.

Landlords.co.nz 13/10/20:


It’s official: New Zealand’s housing market is going crazy – and the skyrocketing prices have left economists revising their forecasts and worried it heralds a new bubble.
The latest REINZ data reveals that 8,377 properties sold nationwide in September – which was a 37.1% year-on-year increase. That’s the highest number of properties sold in a month since March 2017 and the highest number of properties sold in a September month for 14 years.
At the same time, median house prices nationwide increased by 14.7% year-on-year to a new record high of $685,000 in September. Additionally, the REINZ data shows that days to sell were down, auctions levels are going up and the total inventory of properties for sale is now at the lowest level since records began.




Stuff.co.nz 12/10/20:
Since first home-buying hit a dismal low in April, first home buyers have flocked to the market, figures from the Reserve Bank of New Zealand show.
In April, first-home buyers took out $484 million of home loans to buy places. May saw that leap to $801m. In June home loans to first home buyers edged over the billion-dollar mark with $1.09b of new home loans issued.
And in July, and then again in August, first home buyers took out $1.34b of home loans, a level not seen before.

[artemis]

So that's who is buying. But who is selling? And why?

[Ggcc]

So that's who is buying. But who is selling? And why?

I am looking at buying a second dwelling to deversify away from 1 house and 100% in shares and cash. At these interest rates being so low if the price is right is a no brainer. Prices are high in Hawke’s bay, but cash buyers with low amount of conditions still can buy better than those with more conditions offering higher amounts of money.

I am keeping on my realistic hat and if prices are insane will evaluate. Accordingly