Winton Property - IPO

[Sideshow Bob]

Interesting article on BusinessDesk:

Winton Land – The tortoise or the hare? | BusinessDesk

Comparison to CDL, as the companies are similar sizes, total assets only about $30m difference. Winton alot more debt. Winton's market cap after IPO will be $1.15B vs $312m for CDL, but not compariable in terms of NTA per share.

[LaserEyeKiwi]

Interesting article on BusinessDesk:

Winton Land – The tortoise or the hare? | BusinessDesk

Comparison to CDL, as the companies are similar sizes, total assets only about $30m difference. Winton alot more debt. Winton's market cap after IPO will be $1.15B vs $312m for CDL, but not compariable in terms of NTA per share.

Yes that article makes it startlingly clear how overvalued the Winton IPO is. I much prefer CDL for residential exposure.

[Balance]

ASB Housing Update:

REINZ Housing Data November 2021: Shifting through the gears

November data allow more confidence in the fact the housing market has turned

Housing supply is now, finally, rising to meet demand

Supporting our forecasts for a sharp slowing in house price inflation next year

[Balance]

Auction clearance rates dropping like a stone :

https://www.interest.co.nz/property/...nths-surge-new

[Sideshow Bob]

I do laugh at the Winton ads on TV. Not about selling sections, all about their IPO......

[sb9]

Auction clearance rates dropping like a stone :

https://www.interest.co.nz/property/...nths-surge-new

The party has to end somewhere, right. Have noticed quite a few homes in the last few weeks going from auction to price by negotiation and few that have dropped their asking price by about $100k.

[Balance]

The party has to end somewhere, right. Have noticed quite a few homes in the last few weeks going from auction to price by negotiation and few that have dropped their asking price by about $100k.

Was in the news over the weekend just how slow the auction market has become for existing homes.

Article about an Auckland couple went to an auction to bid on a home in Te Atatu - they were very surprised to be the only bidder for the property and that's after the first 15 auctions ahead of their property passed. They got it for $925,000 which was well below what they expected to pay of >$1m.

New homes are still going strong due to investors' interest apparently.

[winner69]

Was in the news over the weekend just how slow the auction market has become for existing homes.

Article about an Auckland couple went to an auction to bid on a home in Te Atatu - they were very surprised to be the only bidder for the property and that's after the first 15 auctions ahead of their property passed. They got it for $925,000 which was well below what they expected to pay of >$1m.

New homes are still going strong due to investors' interest apparently.

ANZ had this chart re auction clearing rates and Akl house prices .... under the heading fasten your seatbelts

[Balance]

ANZ had this chart re auction clearing rates and Akl house prices .... under the heading fasten your seatbelts

Scary chart, W69.

Wonton has called the top of the market, I think.

[Sideshow Bob]

Auckland the bellweather for the country?

Or Aucklanders trying to flee Auckland for the provinces.....