Potential adverse effects from coronavirus on NZ property market

[Bjauck]

Neither it should be, assuming you are over 45 y.o. or thereabouts.

Do you have more equity in businesses, investment real estate and financial investments than in your owner occupied house?

[fungus pudding]

Do you have more equity in businesses, investment real estate and financial investments than in your owner occupied house?

Yes. So do most, if not all, of my friends.

[Bjauck]

Yes. So do most, if not all, of my friends.

That is quite well done for someone in the mid to late 40's. I don't think many of my friends would be in such positions, although I don't know tbh. However some of them have multi million dollar homes (Average prices in their suburbs) with chunky mortgages.

[thebusinessman]

So I'm in Queenstown at the moment, drove in from Christchurch and the place is... not dead yet.

The true litmus test of economic activity would have to be the length of the line at Fergburger. No line, but the place was doing steady trade in $15 burgers and all seats and tables were full.

Still a bit of traffic on the roads, none of the queues we used to see coming into the centre.

Quite a few groups of people drinking and laughing on the Lakefront, I guess these are young locals/workers looking for cheap entertainment while things aren't quite as lively as they used to be. I would say the restaurants and bars were half full last night (a Tuesday).

I've seen no evidence of people yet dropping property prices, I do struggle to see how further satellites like Glenorchy will continue to demand 700k for a few acres. Off to Wanaka tomorrow and will be interesting to compare.

[Sideshow Bob]

So I'm in Queenstown at the moment, drove in from Christchurch and the place is... not dead yet.

The true litmus test of economic activity would have to be the length of the line at Fergburger. No line, but the place was doing steady trade in $15 burgers and all seats and tables were full.

Still a bit of traffic on the roads, none of the queues we used to see coming into the centre.

Quite a few groups of people drinking and laughing on the Lakefront, I guess these are young locals/workers looking for cheap entertainment while things aren't quite as lively as they used to be. I would say the restaurants and bars were half full last night (a Tuesday).

I've seen no evidence of people yet dropping property prices, I do struggle to see how further satellites like Glenorchy will continue to demand 700k for a few acres. Off to Wanaka tomorrow and will be interesting to compare.

Times I've been to Queenstown post Corona (4x), been surprised how busy the supermarket, shops and centre of town has been. Not sure where everyone comes from, but certainly a decent-sized queue for handouts at the supermarket.

Friend was out on the tiles weekend before last and said it was heaving......

Still those construction projects to be completed etc, so interesting to see what happens when they finish, and job subsidy rolls off. A lot of the tradies commute in from Cromwell - so this would be hit. And if you bought a property in Kingston - well that's your own fault.

[thebusinessman]

Times I've been to Queenstown post Corona (4x), been surprised how busy the supermarket, shops and centre of town has been. Not sure where everyone comes from, but certainly a decent-sized queue for handouts at the supermarket.

Friend was out on the tiles weekend before last and said it was heaving......

Still those construction projects to be completed etc, so interesting to see what happens when they finish, and job subsidy rolls off. A lot of the tradies commute in from Cromwell - so this would be hit. And if you bought a property in Kingston - well that's your own fault.

Indeed, and after wandering around again last night I will revise my enthusiasm somewhat. About every fifth restaurant was not open, so that probably artificially inflates the others. Will be very interesting to see what happens when the subsidies stop...

[artemis]

One of ours works min wage in a daytime café in Wellington CBD. Mainly public service clients. Back to full hours this week.

[Zaphod]

My city-based tenants have cut back to Tues-Sunday and reduced their hours. They're sliding back to around 60% of normal. Their colleagues report a similar situation, whereby the initial burst of post-lockdown euphoria has given way to a more somber mood. Redundancies at the firms of my clients are starting to take place, and these are all outside the tourism and hospitality sector.

[Joshuatree]

And this weather takes alot of people inward and down on top of that.Sun, vitamin D , melatonin outside exercise is what i need.

[JBmurc]

https://www.nzherald.co.nz/business/...ectid=12343394

Qtn getting funding from our leader with the limitless creditcard