Black Monday

[clip]

Interesting, I hadn't heard that. I have a few mates looking at buying apartments and they think it's still very soft.

I can understand the rental market being strong as most of the 100k of immigrants can't buy for at least a year and I imagine there has been a return of international students over time.

Will be interesting to see and maybe I am wrong, prices are down yes but number of sales is significantly up e.g. on apartments/units we are seeing around double what it was at the start of the year. Rents for apartments are up which may drive investor activity, especially being easier to rent them out. A lot hinges on the election/interest deductibility still and interest rates though.

[Maverick]

Will be interesting to see and maybe I am wrong, prices are down yes but number of sales is significantly up e.g. on apartments/units we are seeing around double what it was at the start of the year.

Clip, are you able to be specific where you are getting these apartments sales numbers from?

[Bjauck]

Absolutely right, well actually one thing I disagree with 'enough' no you have WAY too much.

None of us would invest more than 5% of assets in a tiny isolated socialist republic 2 crop Agrarian trading nation elsewhere, so why would we here?

NZ is a “2-crop agrarian” country precisely because it is not “socialist republic” enough!

[Daytr]

NZ is a “2-crop agrarian” country precisely because it is not “socialist republic” enough!

Good point!

[Muse]

nz market tanking , orr just on bloomberg saying might not cut rates even when nz goes into recession

add in china big shadow bank near collapse , protests on china streets apparently now

Full interview here.
https://www.bnnbloomberg.ca/investin...lation~2747383

Certainly got a reaction. NZ 10 yr government bond (risk free rate) breached 5% for the first time since June 2011.
https://www.marketwatch.com/investin...countrycode=bx

Currency weak as.
https://www.fxempire.com/currencies/nzd-usd

[clip]

Clip, are you able to be specific where you are getting these apartments sales numbers from?

I have access to the data of a company with a large number of body corp units under management (tens of thousands), when a unit is sold, a post-settlement statement/report is required to be generated. I am seeing double the amount of reports generated in the last 2 months than were generated in jan/feb. albeit not all are apartments, some may be for example a house in a shared lane in hobsonville point, or cross leases, over the data I am skimming over for the past 3 months, the vast majority I am looking at is units in buildings

also looking at barfoot residential sale reports https://www.barfoot.co.nz/market-rep...l-sales-report
14 sales in july 22 vs 24 in july 23 for central auckland
going to the detail of these sales (2 tables down), a lot of these sales are for 0 or 1 bedroom places which is why i'm counting them as appartments not town houses

[Daytr]

Thanks Clip that's interesting

[Valuegrowth]

https://www.claytoncountyregister.co...ng-com/101450/


The S&P/ASX 200 index closed with a decline of 1.50% in Sydney, reaching a new 1-month low.

The best performers of the session on the S&P/ASX 200 were Mesoblast Ltd, which rose 9.72% to trade at 0.40 at the close. Codan Ltd added 7.18% to end at 8.21, and Bapcor Ltd was up 5.45% to 6.77 in late trade.

On the other hand, the worst performers of the session were Fletcher Building Ltd, which fell 9.27% to trade at 4.60 at the close. Megaport Ltd declined 5.72% to end at 10.38, and Champion Iron Ltd was down 4.92% to 5.22.

Falling stocks outnumbered advancing ones on the Sydney Stock Exchange, with 766 stocks falling, 467 advancing, and 427 ending unchanged.

The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, reached a new 1-month high, increasing by 7.49% to 12.25.

In commodities trading, Gold Futures for December delivery slightly declined by 0.01% to $1,935.10 a troy ounce. Crude oil for delivery in September rose by 0.11% to $81.08 a barrel, while the October Brent oil contract rose by 0.15% to trade at $85.02 a barrel.

The Australian dollar remained relatively stable, with AUD/USD unchanged at 0.65, while AUD/JPY rose slightly to 94.11.
The US Dollar Index Futures decreased by 0.17% to 102.92.

[Maverick]

I have access to the data of a company with a large number of body corp units under management (tens of thousands), when a unit is sold, a post-settlement statement/report is required to be generated. I am seeing double the amount of reports generated in the last 2 months than were generated in jan/feb. albeit not all are apartments, some may be for example a house in a shared lane in hobsonville point, or cross leases, over the data I am skimming over for the past 3 months, the vast majority I am looking at is units in buildings

also looking at barfoot residential sale reports https://www.barfoot.co.nz/market-rep...l-sales-report
14 sales in july 22 vs 24 in july 23 for central auckland
going to the detail of these sales (2 tables down), a lot of these sales are for 0 or 1 bedroom places which is why i'm counting them as appartments not town houses

Thanks for that Clip. I enjoy getting Tony Alexanders reports which give a pretty thorough country wide summary on what's going on. He did point out today how much Auckland / Hamilton and Tauranga were picking up ( around 10% YOY turnover) but crikey, some of those suburbs up there are really taking off.
Thanks again for the link.

[bull....]

Full interview here.
https://www.bnnbloomberg.ca/investin...lation~2747383

Certainly got a reaction. NZ 10 yr government bond (risk free rate) breached 5% for the first time since June 2011.
https://www.marketwatch.com/investin...countrycode=bx

Currency weak as.
https://www.fxempire.com/currencies/nzd-usd

sure did nz bonds at 5.08 % huge jump after the interview, be putting pressure on banks to lift mtge's again soon if they keep rising. yield sensitive stocks taking a hit today