SUM - Summerset Group

[mcdongle]

Its simply not happening Balance. Have a look at some of the regional prices like Nelson as just one example that's on fire. The national average house price in N.Z. is up 2.5% year on year March 2018 to March 2019. That is a statistical FACT. Real estate agents opinion are quite frankly in my opinion worth a dime a dozen.

Friend of mine just sold a house in Christchurch for $90000.00 Less than it was valued a year earlier

[freddagg]

Craigs reckon $106 mill underlying profit for 2019.
I make that a PE of 11.9

[couta1]

Lol, so much scaremongering going on on here, this is not just a property company it's a needs based business with strong tailwinds for many years to come.

[Balance]

Lol, so much scaremongering going on on here, this is not just a property company it's a needs based business with strong tailwinds for many years to come.

Opinions, Couta.

When you use the term 'scaremongering', you reveal yourself I reckon as a class A ramper then?

[Beagle]

Okay I am bored with this now Balance. You think by way of example that the dynamics of the Auckland market might be different to say Napier or Nelson or to illustrate my point even more pointedly, Invercargill ? All I will reiterate is that in the Auckland market it is incredibly easy to get myopic vision that this somehow represents an accurate proxy for the rest of the country. Normally I have a lot of respect for your posts...let's just agree to disagree regarding opinions on the future movement of the national average real estate price. The FACTS on the real estate market for the year to March have been reported in the media and this trumps anyone's future opinion at this stage anyway.

[Sideshow Bob]

But, that is only one (or two) transactions while I am talking about overall data.
Everybody knows Auckland's weak market for sellers but other areas hit all time high!

Auckland is always first area in NZ to go up. First to go down.

[couta1]

Opinions, Couta.

When you use the term 'scaremongering', you reveal yourself I reckon as a class A ramper then?

Not at all, but overplaying the property card is scaremongering, okay then let's call it downramping.

[Beagle]

Friend of mine just sold a house in Christchurch for $90000.00 Less than it was valued a year earlier

I don't want to be rude but honestly I couldn't care less about individual anecdotal evidence. National average is all that's relevant and is up 2.5% year on year.

Craigs reckon $106 mill underlying profit for 2019.
I make that a PE of 11.9

That's still profit growth and they are probably the most bearish of the brokers given their recent bizarre call.

[Balance]

I don't want to be rude but honestly I couldn't care less about individual anecdotal evidence. National average is all that's relevant and is up 2.5% year on year.



That's still profit growth and they are probably the most bearish of the brokers given their recent bizarre call.

Good. That's why the sharemarket is such a wonderful place - a market where different perceptions of value and expectations differ.

Sp was $7.50+ in October 2018 when data of Auckland's struggling property market started emerging - discounted at that time by the real estate industry of course!

Those who took heed vs those who believe it's just temporary.

[minimoke]

Friend of mine just sold a house in Christchurch for $90000.00 Less than it was valued a year earlier

This may provide a broader picture from homes.co.nz