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  1. #181
    Legend minimoke's Avatar
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    Default Aucklands on the move

    In todays news from Barfoot and Thompson:
    "
    A massive 5.8 percent surge in average house prices in the past month has sent Auckland house prices to a 22-month high.



    Rental prices also shot up - by the biggest monthly amount in seven years.
    Real estate firm Barfoot & Thompson, which lays claim to selling around one in three homes in the country's largest city, said today the prices achieved in the Auckland market in October were "exceptional".


    "We have not seen average prices comparable to this since December 2007," managing director Peter Thompson said.


    According to the firm's figures the average sales price across the Auckland region in October was $544,745.


    The new figures are further confirmation that the housing market is bouncing back extremely quickly from its slump last year.


    Buyers are being encouraged by low floating mortgage rates, while the big downturn in the construction industry that started in 2007 is leading to a shortage of new homes. Strong population gains through migration are also contributing to upward pressure on house values."

  2. #182
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    Default

    [QUOTE=belgarion;277405]That sucks! Why are high incomer earners with just one child (or no children) being so roundly descriminated against.
    Last edited by evilroyrule; 04-11-2009 at 01:11 PM. Reason: no point in moaning so i deleted

  3. #183
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    Quote Originally Posted by belgarion View Post
    That sucks! Why are high incomer earners with just one child (or no children) being so roundly descriminated against.

    Who exactly is Working for Families? ... It appears that I am and it sucks!
    I was never a supporter of WFF, and not just becuuse my family and I do not qualify and pull out weight funding it.

    It just feels like recycling tax dollars through a high friction meatgrinder.

    Surely it would be more efficient to adjust the tax rates to accomplish the same/similiar with fewer minions employed to do so, via PAYE?

    Having said that, I think an intelligent immigration system combined with intelligent support for productive folks who want children should be used to help "shape" our national demographics for the long-term to try and avoid or mitigate the demographic "wall" the likes of Japan will be hitting at 100KPH.

    While I would prefer to pay less tax than more tax.......I don't mind paying more(which we surely will be in the future) if it's well spent...but then we will have 4+ million opinions on the definition of well spent.......I think WFF fails to qualify myself.

  4. #184
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    Quote Originally Posted by minimoke View Post
    If someone has WFF then this could just about pay the mortgage on its own without any other income. Take a family with 3 kids and an income of $50,000. Thats $215 a week WFF. Which means the Tax Payer is going to give your person the ability to fund a $165,000 loan. Heres a 3 bedroom house in Manukau for $175,000. http://www.trademe.co.nz/Trade-me-pr...-241357122.htm Negotiate hard and you might get it for $165 - all on WFF! Thats affordable and thats good news!
    The realisation that we're two clicks from communism strikes you as good news?
    ----
    Never try to teach a pig to sing. It wastes your time and annoys the pig.
    ----

  5. #185
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    Quote Originally Posted by Stranger_Danger View Post
    The realisation that we're two clicks from communism strikes you as good news?
    This is a good news about property thread. More than happy to enter into a discussion on communism on another thread but you'll see from the tone of my posts my views on that subject.

  6. #186
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    mm,
    We all like "Good News"
    It really does not matter which way prices go.
    If UP it will be good for you and some others.
    If DOWN it will be good for some of those who are currently waiting to get on their own ladder.
    So roll on the Good News!
    Gummint steps, if done and if enterprising enough will trend us all to more STABILITY and that is what we all need in the end.
    Frankly, I do not care if my house is worth $700k or $1m. I still am going to live in it.

  7. #187
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    Quote Originally Posted by loofa View Post
    Frankly, I do not care if my house is worth $700k or $1m. I still am going to live in it.
    I care - thats another $300k of capital that can be used as security to borrow for other entrprising projects.

  8. #188
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    Quote Originally Posted by minimoke View Post
    I care - thats another $300k of capital that can be used as security to borrow for other entrprising projects.
    Different strokes for different folks.
    I don't even have a mortgage BUT for my borrowing needs (if any) would always be available.
    Good news is not having any borrowings and knowing that I can.
    Bad news is that I am subsidising excesses of the system unless I keep my surpluses out of the way.
    Yes I do have other projects but not in property.
    I know this thread is a subtitle of the Property thread so I would not go into any discussion about other options. I would just comment that the good news is only relative.
    Best of luck to all who are here.
    Make your own luck.

  9. #189
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    Default Market hits new historical high.

    REINZ Oct 09 values are out and the median is now at $355,000, $3,000 more than the high everyone refers to in Nov 07. Up 1.4% for the month on reduced sales volume. Up 9.2% since January. Days on market the lowest since July 07.

  10. #190
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    Quote Originally Posted by belgarion View Post
    Not really - the only people talking about a "Mini-boom" are real estate firm First Nartional in a clear attempt to get some publicity. There is no Mini boom just a nice and steady increase in values. But more importantly the 30% drop "expert" commentators were predicting never happened and values are recovering for those few people who purchased right at the peak of an over blown boom in Nov 07

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