NZ 1st homebuyers are ScReWeD...

[LEMON]

I

Of course it's possible. Whether it's likely in our lifetimes is a more interesting question.
I'd say it depends on what you mean by 'the coming years. Given long enough it's all but guaranteed, but getting there will be a roller coaster ride.

https://www.youtube.com/watch?v=kUldGc06S3U

Supply and Demand. A bit simplistic but true. A bit less simplistic would mean taking into account population changes, income changes, cost of supplies and money (interest), government intervention, fudge factors - and the interactions between them - for starters. The net of which is - it depends!

For fun, take a million dollars and add say 8% / year. Doesn't take long to double it.

Although I understand the housing market and stock have effects on each other I have never looked at the property market before, until now.
I planned to rent and keep investing the majority of my wage to build a good stocks portfolio, now my situation has changed and I have come into an opportunity to buy & build on a piece of land, so now I want to know about the property market and the kind of future my investment in a new build would have, I have just watched a very good video on the housing market situation currently and it's expected to cool off but in the future continue a slowth growth, whereas they believe there is no lack of housing in NZ only a lack of suitable housing which makes sense to me, also bringing in to consideration of the growing population and only 44'000 new build each year, I believe its a good idea to go ahead with this opportunity, but I will do more research from here

[LEMON]

I guess to summarise what I'm saying, I'm worried like many that this current housing market will pop and I don't want to be left paying a huge sum on something that could have cost me less in the future, from what I'm reading and watching this is unlikely to happen in NZ and time soon?

[dobby41]

I guess to summarise what I'm saying, I'm worried like many that this current housing market will pop and I don't want to be left paying a huge sum on something that could have cost me less in the future, from what I'm reading and watching this is unlikely to happen in NZ and time soon?

Do you want to borrow somebody's crystal ball?
Mine says that in 10 years' time a house will cost more than it does today.

[LEMON]

Do you want to borrow somebody's crystal ball?
Mine says that in 10 years a house will cost more than it does today.

Not a crystal ball, more so just some good knowledgeable advice for a young investor on buying a first property in today's market, and what the future may look like for that investment in say 10 years, which from what you say is good with me lol

[Logen Ninefingers]

The heavily indebted are screwed. Good job. No such thing as a free lunch. The Piper wants paying.

https://www.stuff.co.nz/business/126...-hard-and-soon

Inflation shock may hit mortgage holders hard and soon
Tom Pullar-Strecker
16:21, Oct 19 2021

Home-owners may start paying a price for higher inflation sooner rather than later, the country’s biggest bank believes.

ANZ is tipping inflation will reach 5.8 per cent early next year and the official cash rate 2 per cent in August.

But the bank also warned a “dramatic increase in wholesale swap rates” on Monday meant there was now “real pressure” for mortgage rates to rise further “before long”.

The annual yield on 10-year government bonds has jumped about 30 basis points over the past week, soaring above 2.3 per cent.

The movement in financial markets increased the chance that housing market momentum could turn more sharply than forecast and flip more abruptly than expected, the bank said.

[dobby41]

The heavily indebted are screwed.

You should write media headlines.

[TeslaGod]

The heavily indebted are screwed. Good job. No such thing as a free lunch. The Piper wants paying.

https://www.stuff.co.nz/business/126...-hard-and-soon

Inflation shock may hit mortgage holders hard and soon
Tom Pullar-Strecker
16:21, Oct 19 2021

Home-owners may start paying a price for higher inflation sooner rather than later, the country’s biggest bank believes.

ANZ is tipping inflation will reach 5.8 per cent early next year and the official cash rate 2 per cent in August.

But the bank also warned a “dramatic increase in wholesale swap rates” on Monday meant there was now “real pressure” for mortgage rates to rise further “before long”.

The annual yield on 10-year government bonds has jumped about 30 basis points over the past week, soaring above 2.3 per cent.

The movement in financial markets increased the chance that housing market momentum could turn more sharply than forecast and flip more abruptly than expected, the bank said.

Great news!

Not only does inflation erode away my debt but rents go higher with inflation

All I do is win win win!!

[TeslaGod]

Not a crystal ball, more so just some good knowledgeable advice for a young investor on buying a first property in today's market, and what the future may look like for that investment in say 10 years, which from what you say is good with me lol

Your over analyzing, buy a good home with safe capital growth near public transport, shopping malls,cafés and were people work. If you're going to buy an apartment or town house, don't buy were There's 300 of them next door that look exactly the same.

There's a reason the more central to the cbd you buy the more expensive it is.

Try and buy something with a bit of dirt, the Nats and Reds announced forcing councils are allowed to build more properties on single sections without consent costs around the main centers

This is going to send land prices in the big cities as they say..to the moon!

[LEMON]

Your over analyzing, buy a good home with safe capital growth near public transport, shopping malls,cafés and were people work. If you're going to buy an apartment or town house, don't buy were There's 300 of them next door that look exactly the same.

There's a reason the more central to the cbd you buy the more expensive it is.

Try and buy something with a bit of dirt, the Nats and Reds announced forcing councils are allowed to build more properties on single sections without consent costs around the main centers

This is going to send land prices in the big cities as they say..to the moon!

I hear what you're saying, I am asking as I am interested in the property market now, that I have a been offered Land to buy in a great location for a new build and wondering what value that has in the near future, as it's an investment for 5-10 years and sell

[TeslaGod]

I hear what you're saying, I am asking as I am interested in the property market now, that I have a been offered Land to buy in a great location for a new build and wondering what value that has in the near future, as it's an investment for 5-10 years and sell

We're is your location?