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  1. #31
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    Quote Originally Posted by miner View Post
    Sir Ed's house Mini ?.

    Cheers
    Miner
    Not as at 3.00pm today!. As for historic value, one of the last famous peoples house to sell was the world renown, down south, Fred and Myrtle Fluteys house which sold near the “peak of the market” but eventually sold (despite being offered at auction) for less than the asking price – so being famous doesn’t necessarily add value to a house. Since the Fluteys is one house in a much smaller sample size we can conclude that famous houses sell at a discount – therefore this latest house sold at a discount – all good news.

  2. #32
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    As it was the only site left in the street yet to be developed and have a mansion built on it not sure if it's the best indicator of the market,sale had zip to do with being sir ed's.

    Cheers
    Miner

  3. #33
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    Quote Originally Posted by miner View Post
    ..not sure if it's the best indicator of the market..
    There might be some merit there: except this is the Good News thread so any news is going to get spun positively to counter the gloomy people who prefer anecdotal stories upon which they can weave their misery. I prefer an evidenced based approach to weave a yarn. Oh – and incidentally more good news – this sale shows there is still major money out there for house purchases and more cash slopping around if the new owners do want to develop. Even people without so much cash are taking the punt now on properties like that Mulgan St one. And what I particularly enjoy about this latest sale is that it is going to bolster the March sales stats no end.

  4. #34
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    Nothing to do with gloomy quiet positive actually as it's all doing what I thought it would,just looking at it all with NO EMOTION unlike allot of people,boost the march sale stats as in give yet another false indicator as it will get the average up but not show what's really going on for your shall we say average priced house ?.

    Cheers
    miner

  5. #35
    Legend minimoke's Avatar
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    Quote Originally Posted by miner View Post
    just looking at it all with NO EMOTION
    I guess that since this is the Good News thread this is going to be the thread with a smidge of emotion in it. But you raise another interesting challenge perhaps for another thread. What is an average house (or home), an average price and an average buyer /seller.

  6. #36
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    Quote Originally Posted by minimoke View Post
    There might be some merit there: except this is the Good News thread so any news is going to get spun positively to counter the gloomy people who prefer anecdotal stories upon which they can weave their misery. I prefer an evidenced based approach to weave a yarn. Oh – and incidentally more good news – this sale shows there is still major money out there for house purchases and more cash slopping around if the new owners do want to develop. Even people without so much cash are taking the punt now on properties like that Mulgan St one. And what I particularly enjoy about this latest sale is that it is going to bolster the March sales stats no end.

    No it won't. Statistics now use median rather than average prices to eliminate distortion.

  7. #37
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    Quote Originally Posted by funguspudding View Post
    No it won't. Statistics now use median rather than average prices to eliminate distortion.
    I thought QV, who are the regularly quoted source of statistics (along with REINZ) use averages though REINZ use median.

  8. #38
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    Bond market in US,Japan & UK responding very favourable to the "quantative easing" ( or is it "quantitive ?? " ... watch the NZ 5 & 10 year swaps retrace some of the upward movement since the last OCR announcement. I've got some 2yr fixed coming off in May and the 3Yr 5.99% rate is making eyes at me. Was worried it may have disappeared but it's still there at the ANZ where the mortgages are held. Enquired last week what the cost would be to break and re-fix now .... amount was roughly double the interest saving so I gave it a miss !!

  9. #39
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    Default Houses below fair price

    House prices have fallen below a fair price that investors should be willing to pay - the first time this has happened since late 2006 - says the Westpac Bank.

    Westpac economist Doug Steel told an Auckland regional job summit yesterday that house prices were now "around fair value" based on rents, interest rates and other costs.

    "The negative sentiment towards housing is overblown," he said

  10. #40
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    So buy one and take a mortgage out with us.

  11. #41
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    Just to let you know if you didn't already realise. ANZ will let you "book" a rate if you are within 60days of a fixed rate maturing. I reserved 6.15% 3Yr fixed this morning on 3 loans coming off their fixed rates in early May. Saved me having to pay break fees but still got me some certainty.

    ASB are certainly putting the pressure on to get into some fixed rates soon with their huge increase this morning.

  12. #42
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    yeh westpac is the same TGGG. I locked in a few weeks ago with rollover in a fortnight. with ASB at 7.25 for 5 yrs as of today my 6.5 feels good
    For clarity, nothing I say is advice....

  13. #43
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    I see Westpac have raised their rates this arvo ... even pushed up the 2Yr to 6.25% which is a bit of a shock. Cameron Baigre ( chief economist at ANZ National ) reckon it might pay to have a certain amount of debt at 6mths and just keep rolling it every 180 days ... short term rates to stay lower for longer but the yield curve to stay steep.

    I have another mortgage coming of on June 17th and plan to adopt this strategy if 6mth rates are still around the 5.79% level. 2 more small OCR cuts in the meantime may push the 6mth rate lower .. possible it may be up to 1.50% cheaper than say a 3yr rate .. and possibly 2.00% cheaper than a 5Yr which will mean it will be "worth the punt" for a while.

    Happy to have 1/4 of my exposure fixed today at 6.15% until May 2012 having said all that.

  14. #44
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    Quote Originally Posted by The Great Gold Guru View Post
    Just to let you know if you didn't already realise. ANZ will let you "book" a rate if you are within 60days of a fixed rate maturing.
    Thanks for that TGGG I wasn’t aware of that and I am with ANZ. I have them for their rate shaving so I’ll have to try this when my fixed comes off in July.

  15. #45
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    Great news for first home buyers in both Rotorua & Wanganui...$125,000 will now get you into a 3 bdr property. Both these towns have been punching well above their weight for some time...finally getting back to some normality.

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