NZ 1st homebuyers are ScReWeD...

[fungus pudding]

I think that with property at current prices, and interests rates at current levels (and expected to be even lower by weeks end) that there is still plenty of time. And with winter nearly upon us, plenty of opportunities in the next 6 months.

And even more in the six months following that.

[lakedaemonian]

Perhaps the tide is turning and those that weren’t on the boat have missed it.

I think it would be wrong to think of the real estate market as a fast and maneuverable little speed boat....changing course quickly.

I think the real estate market is more like a bloody supertanker.......big, slow, and not the least bit maneuverable....in fact all that inertia could find it blasting beneath any reasonable perceived bottom before it changes course back in the right direction.

If the real estate market ran higher than it should have in recent years, isn't it within the realm of belief that it could correct LOWER than it should?

I think that once the credit crunch is absorbed(which could still take a considerable amount of time), and we eventually get back to normality with a new game of monopoly without all the global volatility(and after correcting to the lowside in my opinion), I think real estate will be quite boring again for quite some time.


The next fast rising real estate tide and "Act Now!" attitudes may have to wait for our children to get excited about.

[minimoke]

narh.... im probably looking around the 200-250k price near fendalton, Merivale... as long as I dont have to buy in Ilam then I will buy anywhere...
KS restrictions on areas...?

Oh dear more bad news Shredy from the Min of Housing. When the Kiwisaver benefits kickin in 2010 you are going to have to buy in the bottom 25% of house prices in the region.

While you are hoping to buy in one of Fendalton neighbours off the back of a drop in values so will Bromley, Bexley, Aranui and Hornby. These are the suburbs you have to aspire to if you want to use Kiwi saver! Take heart – the Bromley Sewerage works may not be so smelly once that pipe line is finished. Aranui has good schooling if only the kids turned up, Hornby has a great mall with all that discount shopping and Bexleys got, well who knows but its cheap!

[JBmurc]

Until such time as Queenstown implodes on its own self inflated view of grandeur. There are many beautifully scenic high country lake areas that could be exploited once the price of Queenstown gets to high – Wanaka might be just one example.

Wanaka not excacty all that cheap prob max 10% cheaper on average.

As for many beautiful high country areas to take over Qtown over inflated view?
yeah there pently but most have growing because of Qtown
Qtown is a well known international SKI resort it's the reason we have-
#1 QTown has a International Airport (in under 3hrs I could be in Sydney)pretty sure Jetstar has just made Qtown an chch it's only South Is destination's
#2 -200+ restaurants many 1000's hotel beds 100's bars nightclubs
#3 -5 world class Golf courses (Qtown is becoming a summer resort for Golfers)
-I think you find it hard to just to make another Qtown anywhere in NZ or outside

What do you reckon to the Pounamu complex.

Well GGG IMHO I use to take the piss out of the apartment sales agents I always believed the high prices were a joke as for Pounamu which was going to be part of the -Hilton chain-
yeah if you want a low maintenance apartment,unit etc bargain their looking good have heard you could buy for mid 300,000 only couple yrs back some sold for 799,000+GST pretty sure that rent 450pw-500pw+

[minimoke]

I think it would be wrong to think of the real estate market as a fast and maneuverable little speed boat....changing course quickly.

I think the real estate market is more like a bloody supertanker.......big, slow, and not the least bit maneuverable....

Not a bad analogy LD. – though perhaps, in terms of volatility a bit more like a diving pontoon in the harbour. It goes up and down with the tides and will really dip and rise in the spring tides. There is more demand in some parts of the seasonal cycle and real quiet in other parts but people always will go back to it when the water is warm enough. When a storm is brewing its best to stay off unless you really know how to swim and like a bit of added excitement. You don’t get to have any fun if you just sit on the beach. And watch out for the fat kid in the jeans who reckons he can swim out there like the others.

[minimoke]

Wanaka not excacty all that cheap prob max 10% cheaper on average.

As for many beautiful high country areas to take over Qtown over inflated view?

Yes over inflated. I skied in Banff and one lunch time talked to a guy that had been surfing in San Francisco that morning. I’d sooner do that than take a 737 to Sydney. Short runs, short season – but great given Australasia doesn’t have much else to choose from. Airport – great during daylight hours only (but it is one of the more spectacular approaches of anywhere!) and hotels/restaurants aren’t in my books scenic and don’t quite fit our “clean / green” image but a must for extracting tourist dollars. As for all those beds how many workers are commuting from Cromwell or heading to Invercargill for shopping nowadays? Can’t comment on the golf – never seen the attraction and last time I played the sheep ran scared. But each to their own.

[JBmurc]

Yes over inflated. I skied in Banff and one lunch time talked to a guy that had been surfing in San Francisco that morning. I’d sooner do that than take a 737 to Sydney. Short runs, short season – but great given Australasia doesn’t have much else to choose from. Airport – great during daylight hours only (but it is one of the more spectacular approaches of anywhere!) and hotels/restaurants aren’t in my books scenic and don’t quite fit our “clean / green” image but a must for extracting tourist dollars. As for all those beds how many workers are commuting from Cromwell or heading to Invercargill for shopping nowadays? Can’t comment on the golf – never seen the attraction and last time I played the sheep ran scared. But each to their own.

Your not the only one thats been to Banff spent 6wks there an Whistler loved the place is the reason I now live in the southern alps main ski resort
Personal I love the area because of my interest ,Trail riding,snowboarding,golf,mountain biking,the mountains lake views etc everthing on my doorstep
Obviously you have a chip on your shoulder towards Qtown like many negative minded people you can't stand Queenstowers that love living here..pretty sad really

[minimoke]

Y
Obviously you have a chip on your shoulder towards Qtown like many negative minded people you can't stand Queenstowers that love living here..pretty sad really

Nothing against Queenstowners at all. People can live wherever they like as far as I’m concerned. Just because I don’t particularly like the way Q’town has been developed doesn’t mean to say it’s wrong. People can put their money where they like, each to their own. But they won’tget any sympathy if they are getting burnt by Jacks Point or Pounamu Apartments or any of the other developments where people have been blinded by the dollar

[JBmurc]

Nothing against Queenstowners at all. People can live wherever they like as far as I’m concerned. Just because I don’t particularly like the way Q’town has been developed doesn’t mean to say it’s wrong. People can put their money where they like, each to their own. But they won’tget any sympathy if they are getting burnt by Jacks Point or Pounamu Apartments or any of the other developments where people have been blinded by the dollar

LOL remember I'm talking about investing in the present property market not the past 700k+ apartment market of the area(which I also agree was overpriced)
But some how you have nothing against Qtown but post time n again why it's currently over priced something I find hard to believe when property are being sold for less than cost to build.

-Nothing against Queenstowners at all-Yeah right!

minimoke
-Until such time as Queenstown implodes on its own self inflated view of grandeur
-Yes over inflated. I skied in Banff and one lunch time talked to a guy that had been surfing in San Francisco that morning. I’d sooner do that than take a 737 to Sydney. Short runs, short season – but great given Australasia doesn’t have much else to choose from. Airport – great during daylight hours only (but it is one of the more spectacular approaches of anywhere!) and hotels/restaurants aren’t in my books scenic and don’t quite fit our “clean / green” image

[minimoke]

But some how you have nothing against Qtown but post time n again why it's currently over priced something I find hard to believe when property are being sold for less than cost to build.

-Nothing against Queenstowners at all-Yeah right!

Perhaps you are confusing me with another poster – I haven’t posted on Queenstown very often at all. 1 recent post hardly constitutes carrying a chip on ones shoulder – and I’ve expressed similar views about coastal holiday homes, Auckland apartments, town developments like Pegasus, over priced rentals all over the place