Which way will the property market go now?

[SBQ]

Slap up 200,000 new houses and of course you'll see prices and rents drop.

Except there's no real plan to increase the supply - there never was as Mr Hickey had described. One gov't party in power after another ; all kept rolling a long doing nothing.

You aware it's technically impossible to increase the building density in any major urban area of NZ? (i'm speaking about the RMA).

[fungus pudding]

Except there's no real plan to increase the supply - there never was as Mr Hickey had described. One gov't party in power after another ; all kept rolling a long doing nothing.

You aware it's technically impossible to increase the building density in any major urban area of NZ? (i'm speaking about the RMA).

It's not technically impossible at all. But it is legally challenging to navigate the rma.

[SBQ]

It's not technically impossible at all. But it is legally challenging to navigate the rma.

I wouldn't bet on it. As Mr Hickey interviewed the person from Wellington that spoke for the council, the move to intensify building density came with outrage by the camp that is also known as the NIMBY (Not In My Back Yard) association. Vancouver has a bit of that but the need was greater an up went these 40 story high rise apartments.

The Auckland Unitary Plan is also at risk - slowing butchered up so more and more areas become exempted in the way how the Greenies want things.

[ynot]

Are u saying that a flick of the hair,a toothy grin and a frown can't fix this?
Under new laws that may come in this would be considered hate speech.

yea, na. probably beyond fixing if were being honest.
Anyway yes, just getting my 2 cents worth in before the thought police come to get me.

[Bjauck]

I wouldn't bet on it. As Mr Hickey interviewed the person from Wellington that spoke for the council, the move to intensify building density came with outrage by the camp that is also known as the NIMBY (Not In My Back Yard) association. Vancouver has a bit of that but the need was greater an up went these 40 story high rise apartments.

The Auckland Unitary Plan is also at risk - slowing butchered up so more and more areas become exempted in the way how the Greenies want things.

NZ has made acquiring a home so expensive that home-owners jealously guard their properties and home values. That is understandable.

I am not surprised NIMBYism thrives in NZ. The compensation provisions in the Public Works Act are seriously outdated. Neighbouring properties to any works/developments do not have to to be compensated. Also, as soon as a notice of requirement is stuck on a land title, the way to obtain compensation involves a convoluted process including an application to the environment court. Compensation does not include fair compensation for non-monetary effects. The acquiring authority is under no obligation to purchase/compensate in a timely manner after plans are first published or a requirement lodged and can take years over it.

Disc: That is my understanding and opinion. If you are involved in a public works situation DYOR.

[Aaron]

It is only a supply problem. Nothing more

Are you sure could it be a demand problem?

https://www.stuff.co.nz/business/ind...research-shows

I suspect it is largely a monetary policy problem.

https://www.nzherald.co.nz/business/...ULBVOSGGZ2PNY/

Rodd Carr and the climate change commission considered the perfect number of livestock NZ should maintain, but I think they overlooked what the perfect number of humans might be for a country our size. I reckon about 5mill.

[Topagent]

100% a supply problem. The interesting thing is that there are a lot of people wanting to sell but they continue to wait as there is a real fear of lack of choice for the next purchase. If every house I appraised came to the market you would feel like they would supply each other. We need new builds and lots of them to free up stock. In my city we only have just over 500 houses for sale ... 12 years ago we sat over 2000.

[kiora]

50 % of Auckland population wasn't born in NZ
For the rest of NZ it is 30 %
"New Zealand's resident population provisionally reached 5 million in March 2020, Stats NZ said today.

"This is a significant event for New Zealand,” population insights senior manager Brooke Theyers said.

“It is also the fastest million in our history, taking 17 years after reaching 4 million in 2003.""
https://www.stats.govt.nz/news/new-z...sses-5-million

Which is also saying as much as it is a supply problem it is created by the demand problem.
Where is the demand coming from?

[Bjauck]

50 % of Auckland population wasn't born in NZ
For the rest of NZ it is 30 %
"New Zealand's resident population provisionally reached 5 million in March 2020, Stats NZ said today.

"This is a significant event for New Zealand,” population insights senior manager Brooke Theyers said.

“It is also the fastest million in our history, taking 17 years after reaching 4 million in 2003.""
https://www.stats.govt.nz/news/new-z...sses-5-million

Which is also saying as much as it is a supply problem it is created by the demand problem.
Where is the demand coming from?

NZ has failed to ensure that supply has kept with the demand created as a result of its immigration policies. A boost to the economy looks great. However as opposed from a big boost to productivity, it is from a big boost to immigration, for which the country has poorly catered. Then it causes pain and stress and blame scapegoating.

Perhaps it is more convenient to blame supposedly self-centred nimbies for complaining about urgent intensification, as opposed to properly planning new towns, infrastructure and residential building to gradually cater for policies that result in less rapid population growth.

Why has NZ decided upon a path to overpopulating? An opportunity squandered?

[SBQ]

NZ has failed to ensure that supply has kept with the demand created as a result of its immigration policies. A boost to the economy looks great. However as opposed from a big boost to productivity, it is from a big boost to immigration, for which the country has poorly catered. Then it causes pain and stress and blame scapegoating.

Perhaps it is more convenient to blame supposedly self-centred nimbies for complaining about urgent intensification, as opposed to properly planning new towns, infrastructure and residential building to gradually cater for policies that result in less rapid population growth.

Why has NZ decided upon a path to overpopulating? An opportunity squandered?

Perhaps we (the people of NZ) need to know how many properties all these politicians own? I'm a firm believer that when a financial adviser is selling you a product, you also must look at what they're investing in. So if NZ politicians are saying housing is a problem ; perhaps the people need to look at if issues such as CGT, will affect their investments in houses.

How they say, 'self serving their own interests?'

I will go as far as placing those NIMBY people in the same category as the NZ politicians. My uncle studied to be an architect in Auckland and my complaints about how poorly planned Auckland is when I compared to great cities overseas like Vancouver in how they future proof their developments. I was explaining how overseas sub divisions are 'grided' and often divided by an alley way road way to service the back yards of the houses. The response from him was "these grid like developments are boring" and then I say at the cost of what? Burning more fuel / energy because the street ways are not straight? How about the extra requirement to build long driveways for individual lots that get sub divided? (when in Vancouver the back alley road already serves as road access to building 'lane houses'.