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  1. #21
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    Agreed property is cheap for developed country.
    However , wages are cheap too , the country is isolated, etc etc

    Property will always be cheaper here while the standard of living remains so low

  2. #22
    FEAR n GREED JBmurc's Avatar
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    -Every week think goes bye the more happy I'am that I've sold my house and that my only property investment is - 7 15,000 invercargill sections 1 Queenstown section -(more than happy to rent a 600,000+ property for 400pw )
    -Going only get worse here for NZ property investers Inflation will IMHO not be keeped below target(crude oil 70+ soon) for the reserve Bank to halt the rate rise 10%+ fixed rates 11%+ floating rates -Property will remain flat or negative from here IMHO for at least the next couple yrs
    Will build houses on section's Once Builders&tradies are screaming out for work
    "With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu

  3. #23
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    If you check out RBNZ website you will find out that for the year till march the M3 money supply increased by %12.8

    When someone claims inflation is only 3% i laugh because there is no way in heck that our real GDP grew by 10% since march 2006
    In october 2000 the NZ economy was represented by 99,803 million dollars.

    By march 2007 it is represented by 187,743 million dollars. Does anybody think our population+technology level has doubled in 6.5 years?

    Still consider your capital gains to all just be a true increase in wealth?




  4. #24
    FEAR n GREED JBmurc's Avatar
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    Just got an offer on my 7 invercargill sections 100% more than what i paid 12months agoI know guys that brought similar sites for $500 6-7yrs ago now worth 30k+
    "With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu

  5. #25
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    Palmerston North, New Zealand.
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    Anyone know if finding a flat or house in Wellington (central) is getting alot easier? I heard that some are now finding it difficult to bring in flat mates, and rent out entire houses - for the prices they were getting.

    Wonder if the heat is coming out of the demand we saw earlier in the year.

    Could be the start of the "Triple Whammy" (interest rates rises, on falling rentals and falling house price/equity).

  6. #26
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    Aug 2002
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    pukekohe, , New Zealand.
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    one way or the other, what goes up will always go down........... relative to wages.
    and wages for the average joe blow...... not the "average wage" havent increased anywhere near as much as property prices, and, at the end of the day, a property is a roof over a working persons head.
    as for the IRD getting ready to chase down speculators........ what a joke, but at least its a start........ i wonder if they will chase rectrospective speculators or just from now on.
    this whole business of non taxed property speculation and lax IRD enforcement and easily obtainable credit and endless tax rebates on negative gearing is going to cause this country a few problems in the near future........ just when the opposition party might end up in power.
    and knowing the sentiment of the general public...... the government of the day will get hounded by the problems of the day......... built by the present regime.

    IMHO...... i can see the dollar sliding back to the $US.40 level again in a few years.
    and a lot of recent home purchasers suffering bigtime.
    but this is the age of "want now buy now"
    and all generations have to learn their lessons the hard way.
    i learnt mine in the 80's,
    now im waiting to recapture what i lost..... with interest.

    hopefully, with the iminent correction, the new generation will learn that to grow real and stable wealth, you have to invest into vehicals that produce growth and wealth not like the house of cards of property speculation.

    disclosure.......

    boy!!!!...... this vino is good stuff!


  7. #27
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    Heard on National radio that IRD are targeting property sales (was in the budget.)

    Sounds like any subdivision when you have owned a place less than 10 years or any quite rapid resale should be fully taxed ie 39% if thats your rate on whatever you made.

    Could have quite a few worried. Apparently they will be looking through land transfer figures especially in high growth areas in the past few years. They advise talking to your accountant or lawyer to see if you should turn yourself in and pay the tax plus 14% interest or wait & see if you are fined is the other option.

    Could make speculators less keen to buy? Investors long term - and there are still lots out there esp in somewhere like Wanganui where you can get good yield, or Chinese immigrants buying town houses to rent ... will still be buying.

  8. #28
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    how long do you need to hold house before you sell to prevent capital gains.

  9. #29
    Advanced Member trackers's Avatar
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    Christchurch, , New Zealand.
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    quote:Originally posted by Tim

    how long do you need to hold house before you sell to prevent capital gains.
    Its your intentions that count - How many properties do you own? Why did you buy the property you are talking about?

    If you have multiple buy and holds, the prop investors normally try to aim for 7-10years IIRC

  10. #30
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    quote:Originally posted by lakeside

    Heard on National radio that IRD are targeting property sales (was in the budget.)

    Sounds like any subdivision when you have owned a place less than 10 years or any quite rapid resale should be fully taxed ie 39% if thats your rate on whatever you made.

    Could have quite a few worried. Apparently they will be looking through land transfer figures especially in high growth areas in the past few years. They advise talking to your accountant or lawyer to see if you should turn yourself in and pay the tax plus 14% interest or wait & see if you are fined is the other option.

    Could make speculators less keen to buy? Investors long term - and there are still lots out there esp in somewhere like Wanganui where you can get good yield, or Chinese immigrants buying town houses to rent ... will still be buying.
    Not sure that they'll put through anything radical this close to election?

    I was having a laugh today though about how everyone's still having the same thoughts and predictions today they were having three years ago....and whats happened during this time? Steady tick up, 10%p.a house price gains, business as usual....

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