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Foreign buyers estimated at 29%
https://thestandard.org.nz/foreign-b...timated-at-29/
Also you have to wonder how many Companies and trading trusts have been set up here in NZ with foreign stakeholders investing billions..
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
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With all the turmoil in the world over the last several years.....
And NZ being at the bottom of the world and a long way away from global issues......
It seems alot of people with money are looking for a safe haven.....
And NZ is a safe haven and their currency is finding its way to NZ.
There is nothing wrong with this.
Howerever...... there are people in NZ that cant, couldnt, didnt want to, are unable to...... find a spot that they can gain from the immigration wave.
But then..... how many kiwis can afford a house and section in other first world principal cities?
Imagine a family cashing their Mt Eden home in and buying a similar home with land in New York or Paris or Frankfurt.... """dreaming"""
NZ is no longer a pacific island holiday destination.
Free, cheap or government subsidized stand alone housing with front yard, back yard and grapefruit trees in Auckland is now a fantasy.
Yet some political parties think every kiwi has the right to have this in Auckland.
Whats wrong with a 1/4 acre in Dunedin?
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Originally Posted by neopoleII
With all the turmoil in the world over the last several years.....
Whats wrong with a 1/4 acre in Dunedin?
The quarter acre sounds fine. As for Dunedin. . .
Seriously, New Zealand has no way to tie property ownership to nationality or residency. Even if there were such a thing as a national ID card, there would still be the obscuring effect of trusts, companies, and other non-individual forms of ownership.
So anecdotal evidence is all that there is to go on.
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I doubt new generation in NZ can afford to buy their first home except few. I find serious housing market issues in many countries such as UK, New Zealand, Australia and Canada etc. We find similar situation in some Asian countries as well. Definitely,we should see some sort of crisis during next five to 10 years.
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Originally Posted by MARKETWINNER
I doubt new generation in NZ can afford to buy their first home except few. I find serious housing market issues in many countries such as UK, New Zealand, Australia and Canada etc. We find similar situation in some Asian countries as well. Definitely,we should see some sort of crisis during next five to 10 years.
best outcome imho is a small 10% pullback and a flat market for as many decades as we need to see incomes to catch up .... worst is a major crash of course with all the pain that will course be affected on average kiwis....
Last edited by JBmurc; 13-09-2016 at 12:22 PM.
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
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I agree with you. However, anything can happen in any asset category depend on the situation at that time.
Originally Posted by JBmurc
best outcome imho is a small 10% pullback and a flat market for as many decades as we need to see incomes to catch up .... worst is a major crash of course with all the pain that will course....
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https://www.stuff.co.nz/business/pro...may-be-foreign
Not sure if I understand what he is saying here.
"Auckland and Queenstown have the highest proportion of sales to overseas buyers and the smallest proportion of sales to New Zealand citizens.
But Smith said it was probably only a coincidence that they were also the areas with the highest house prices in the country. "If anything, those prices probably reflect more what's happening globally than anything domestic.""
Probably I am the thicky but would you suspect a correlation between more foreign buyers and high house prices rather than it being a mere coincidence. Maybe the statement was written incorrectly because it is justified by the quote "it probably reflects what is happening globally" Maybe he means easy money and low interest rates are pushing up prices globally. Akld and queenstown following the trend up faster than the rest of NZ 20% foreign buyers and this is likely to be coincidental ???? f**ken retarded statement if you ask me.
Hopefully we hear about the next housing crisis sometime soon with a crisis as prices drop and houses become more affordable. Looks like wages might rise to meet them as well. Upsetting for the greedy generation but good news for the future generations of NZ. Maybe if young people could afford a house they might have a family then we could close or reduce the immigration spigot. 5million is more than enough for a country the size of NZ.
Reserve bank doing its best to keep the party going with talks of lowering interest rates if anything goes down.
Last edited by Aaron; 29-06-2018 at 09:13 AM.
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Originally Posted by Aaron
https://www.stuff.co.nz/business/pro...may-be-foreign
Not sure if I understand what he is saying here.
"Auckland and Queenstown have the highest proportion of sales to overseas buyers and the smallest proportion of sales to New Zealand citizens.
But Smith said it was probably only a coincidence that they were also the areas with the highest house prices in the country. "If anything, those prices probably reflect more what's happening globally than anything domestic.""
Probably I am the thicky but would you suspect a correlation between more foreign buyers and high house prices rather than it being a mere coincidence. Maybe the statement was written incorrectly because it is justified by the quote "it probably reflects what is happening globally" Maybe he means easy money and low interest rates are pushing up prices globally. Akld and queenstown following the trend up faster than the rest of NZ 20% foreign buyers and this is likely to be coincidental ???? f**ken retarded statement if you ask me.
Hopefully we hear about the next housing crisis sometime soon with a crisis as prices drop and houses become more affordable. Looks like wages might rise to meet them as well. Upsetting for the greedy generation but good news for the future generations of NZ. Maybe if young people could afford a house they might have a family then we could close or reduce the immigration spigot. 5million is more than enough for a country the size of NZ.
Reserve bank doing its best to keep the party going with talks of lowering interest rates if anything goes down.
Yeah don't you just love it ... we keeped rates low to help spur the rise in property ....but if they dare come down to anywhere normal somewhat affordabe we will ease rates leading to a lower NZD in turn increasing inflation across all consumerables Fuel $3 here we come
and increasing foreign capital value to snap up all the deals.
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
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"CAFCA said its best estimate, which dated back to 2011, was that at least 8.7 per cent of New Zealand farmland including forestry, or 1.3 million ha, was foreign-owned or controlled, although by now it could have reached 10 per cent."
How far away before the waves of aussie and foreign, weather refugees start pouring in to safer haven NZ>
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