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Thread: Black Monday

  1. #4471
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    Quote Originally Posted by blackcap View Post
    What? That means I cannot purchase a property in NZ? have lived here for 35 years plus and have permanent residency. Surely this is an error somewhere as there are bound to be plentiful like me who came to NZ years ago and have never changed to being a citizen?
    Maybe you will need to take the matter up with your country’s Embassy or High Commision.

  2. #4472
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    Quote Originally Posted by BlackPeter View Post
    I think your numbers are wrong. Here is the publication from statistics NZ for the relevant quarter:

    https://www.stats.govt.nz/news/just-...verseas-buyers

    Sorry, why is it wrong? It states about half way down, 'the proportion of overseas home buyers varies across Auckland. For example it was 1.7% in Franklin and 19% in the inner city (Waitemeta) in the March quarter'.

    If you're correcting me on ratio being 19 rather than 20% or not being across the whole of Auckland, fair comment, but 2 points.

    1) whatever the exact figures, that kind of pressure at one extreme end of the market eventually has impacts across the whole market (maybe not Stewart Island ),

    and 2) as quoted in Interest.co.nz ASB data for the same period says the actual number of homes sold to foreign buyers in the year to March 2018 is likely between 11% & 21% nationally, not the 3% reported by Stats NZ.

    However, regardless of the precise figures, certainly in many (but not all) parts of central Auckland the evidence of increasing foreign buyers over last several years has been Compelling with a capital C for anyone selling or buying, going to auctions, looking at overseas websites promoting NZ property for speculative purposes, talking quietly to agents.

    Anyway it looks like it's all going to turn to custard, correction on the cards esp if Simon keeps talking down the economy!

  3. #4473
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    Quote Originally Posted by Blue Skies View Post
    Sorry, why is it wrong? It states about half way down, 'the proportion of overseas home buyers varies across Auckland. For example it was 1.7% in Franklin and 19% in the inner city (Waitemeta) in the March quarter'.
    You must work for the media - selective stats.
    You said Until recently around 20% AKL sales were to foreign speculators/investors where as it should have been
    Until recently around 20% AKL sales, in some areas, were to foreign speculators/investors

  4. #4474
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    Quote Originally Posted by dobby41 View Post
    You must work for the media - selective stats.
    You said Until recently around 20% AKL sales were to foreign speculators/investors where as it should have been
    Until recently around 20% AKL sales, in some areas, were to foreign speculators/investors

    Well spotted & appreciate your robust highlighting of that, but you may have been missed subsequent post 4466 where I provided the source & more specific detail.
    You'll see that is exactly what I said, with examples.

    You're quite right of course, I should not have been so reckless in the first post. Apologies to all.

  5. #4475
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    Quote Originally Posted by dobby41 View Post
    You must work for the media - selective stats.
    You said Until recently around 20% AKL sales were to foreign speculators/investors where as it should have been
    Until recently around 20% AKL sales, in some areas, were to foreign speculators/investors
    An anecdotal snapshot:
    Changing face of Auckland: I live in a road with 10 properties in semi-rural Manukau. It is probably in an area statistically that does not have many foreign sales. When I moved in twenty years ago there were no ethnic Asian owners. All properties were owner occupied. Now four of the properties have ethnic Asian owners. Several of the Asian owners are out of the country for about half the year. Several properties are now rented out.

    Seven of the properties now have penitentiary-like electric gates - none had them 20 years ago. There are three original owners remaining - a Dutch origin family and two NZ pakeha families. It’s still a great place to live and all the neighbours are good.

  6. #4476
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    Quote Originally Posted by blackcap View Post
    What? That means I cannot purchase a property in NZ? have lived here for 35 years plus and have permanent residency. Surely this is an error somewhere as there are bound to be plentiful like me who came to NZ years ago and have never changed to being a citizen?
    With permanent residency you will be an NZ resident just not an NZ citizen. Not even COL (I assuming here) would be stupid enough to change that. I understand NZ permanent residents get almost everything NZ citizens get other than to be an MP and presumably work visa-free in Oz.

  7. #4477
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    Quote Originally Posted by kiwico View Post
    With permanent residency you will be an NZ resident just not an NZ citizen. Not even COL (I assuming here) would be stupid enough to change that. I understand NZ permanent residents get almost everything NZ citizens get other than to be an MP and presumably work visa-free in Oz.

    I believe permanent residents do get to work visa free in aus, almost sure of it.

  8. #4478
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    Quote Originally Posted by kiwico View Post
    With permanent residency you will be an NZ resident just not an NZ citizen. Not even COL (I assuming here) would be stupid enough to change that. I understand NZ permanent residents get almost everything NZ citizens get other than to be an MP and presumably work visa-free in Oz.
    Cheers, that is how I understood it too.

  9. #4479
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    This bull market is about to become historic and may have even more room to run

    https://www.cnbc.com/2018/08/14/this...till-has-.html
    one step ahead of the herd

  10. #4480
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    In my view there could be demand for new stocks and overlooked stocks. Smart money was flowing into those types of stocks over the last month.More surprisingly gold is no longer a safe haven. It also dropped along with base metals. The precious metals normally go up in times of investor panic, but not this week.Investors pulled the most money from technology stocks since February's sell-off. Financials stocks also suffered big outflows.
    Last edited by Valuegrowth; 19-08-2018 at 02:58 PM.

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