NZ 1st homebuyers are ScReWeD...

[Azz]

Immigrants.

"Work from anywhere" will replace immigrants into NZ. And replace NZ jobs too; services (finance, I.T., etc) workers are lining up to be slaughtered in their stupid acted-upon desire to never go into the office again.

[Bjauck]

"Work from anywhere" will replace immigrants into NZ. And replace NZ jobs too; services (finance, I.T., etc) workers are lining up to be slaughtered in their stupid acted-upon desire to never go into the office again.

If only NZ had introduced policies to keep more of its successful companies based in NZ instead of directing investment into high priced residential housing and land...

Face-to-face meetings are still important. I think two or three office days a week are becoming a thing in conjunction with working from home. Better for carbon management and the environment?

[Valuegrowth]

Will NZ follow the USA?

The rapid rise in mortgage rates has finally paused in the USA. The USA mortgage rates were dragged down this week. Some analysts are forecasting interest rates cut in 2023.The 10-Year US Treasury yield hit a low of 2.80% on Friday.

https://www.pressreader.com/usa/hous.../2818787120675

https://markets.businessinsider.com/...es-cuts-2022-6

[snigmac]

As a first home buyer, I couldn't afford a place in Auckland... so instead I bought my first property in Christchurch. Fast forward 3 years, i have around 4 properties here. Christchurch is still a great market for first home buyers.

[fungus pudding]

As a first home buyer, I couldn't afford a place in Auckland... so instead I bought my first property in Christchurch. Fast forward 3 years, i have around 4 properties here. Christchurch is still a great market for first home buyers.

What does 'around four properties' mean?

[JBmurc]

What does 'around four. Properties' mean?

Maybe one is half built ? or not settled on yet ? ....

I certainly wish I purchased in CHCH back after the earthquake period when they ended up building to many homes for the expected buyers that didn't turn up ... a few cracking good buys for brand news homes

[snigmac]

One is half owned with my GF. This property was a first property purchase for her.

Christchurch has been awesome for gains in equity for me. I think I have around $200k + in equity gained from my first property and around $600k equity gained from the 2nd and 3rd properties.

Its probably one of the only cities that is still 'undervalued' compared to the other cities (e.g. Wellington and Auckland).

[stoploss]

One is half owned with my GF. This property was a first property purchase for her.

Christchurch has been awesome for gains in equity for me. I think I have around $200k + in equity gained from my first property and around $600k equity gained from the 2nd and 3rd properties.

Its probably one of the only cities that is still 'undervalued' compared to the other cities (e.g. Wellington and Auckland).

That “undervaluation” might be coming back into line rapidly .

[Aaron]

As a first home buyer, I couldn't afford a place in Auckland... so instead I bought my first property in Christchurch. Fast forward 3 years, i have around 4 properties here. Christchurch is still a great market for first home buyers.

So you can still buy a house in NZ and in snigmac's case one every year. Good to hear.

I obviously sit and moan too much.

That is a pretty quick accumulation of properties. Out of interest and being nosey what sort of gross and net yields did you purchase the rentals on?

[kiora]

"Bernard Hickey peels through the layers of the Reserve Bank's hopes that this time the 'one-way bet' for housing is about to turn"
https://www.interest.co.nz/property/...ay+4+July+2022