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Why property prices in NZ are to high compared to other countries.
To high therefore who is creaming the building cost?. The biggest reason is compliance costs, which have gone right over the top. We used to at one stage talk over an unforseen minor problem over with the building inspector, and come up with a practical solution. Now its engineers reports for trivialities. The plans for simple houses now cost three times as much to produce than they did in the past simply because of over the top detail with more engineers reports on everything. Councils dont make decisions, then make property developers donate land, pay for road upgrades, new roads plus every thing alse they can think up. The greenies have got their foot in the door making us having to double glaze and insulate out of all proportion to a temperate climate. All very nice if you can afford it of course, so why not have us all drive a nice safe rolls instead of that jap import. The people in the end who pay for all this stupidity are the young couple that want a simple three bedroom home at a reasonable price. Macdunk
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Also our wages are two low.
If we had higher wages, they would seem cheap.
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Originally Posted by CJ
Also our wages are two low.
If we had higher wages, they would seem cheap.
If we increased wages then we'd have to increase the cost of housing, as labour is a major component of building costs. Unless we increase wages for everyone except those involved in the supply of goods and services to the building industry, and their suppliers, and their suppliers . . .
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Originally Posted by Serpie
If we increased wages then we'd have to increase the cost of housing, as labour is a major component of building costs. Unless we increase wages for everyone except those involved in the supply of goods and services to the building industry, and their suppliers, and their suppliers . . .
Funnily enough labour comes a little cheaper than the cost of GST in the price of a house. All the materials and all the labour GST content is higher than what the trades people end up with. If you add the IRD content on trades people then the first defendent would be the Govt followed closely by the stupid council who seem obliged to make the process as expensive as they can. Macdunk
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My last renovation was essentially a rebuild and had engineer reports coming out my ears. One of the first was the earth core samples that were being taken. Maybe 20 of them down to around 10m and I'm thinking WTF? Its not like an unknown subdivision - theres loads of houses built around here. Then theres the engineer reports on all the bracing and the untold Building Inspector visits.
The new part of my house came through the earthquake relatively unscathed - no cracks or subsidence. The old part of my house is the part that has slumped and cracked. My new plastic sewerage lines appear to have survived, its the old field tiles further down the line which are stuffed.
I'm now thinking I don't really care how expensive a house in NZ is relative to other parts of the world. If it stands up in an earthquake then thats a pretty good thing. If we have to pay a premium relative to London, or Toronto or New York so be it.
If Christchurch is severely unafordable (rated at 40 as seriously unafordable) then so be it. Perhaps the message is if you choose to live right on top of an active fault line you pay the price. I guess if the aftershocks get too much for me I could always sell up and move to Flint Michigan - looks like houses are affordable there. Shame theres no jobs though!.
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Originally Posted by duncan macgregor
The people in the end who pay for all this stupidity are the young couple that want a simple three bedroom home at a reasonable price. Macdunk
Had a young couple around in the weekend - cousins actually. They bought an affordable house in an affordable area at a reasonable price. Their place survived the 7th Sept quake, not undamaged but liveable. Thats liveable if you consider doors didn't close in the jambs and you didn't want your chimney - but at least it was home. They didn't survive the boxing day quake. Their reasonably priced house is munted.
I'm betting councils look closely at their building regs and lift the compliance requirements and consequently the costs. It is with some irony that the local council moved into their flash new rate payer funded premises just before the quake - and that building didn't survive unscathed. The poor wee clip board carriers have to find a new home for a while.
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Why is NZ Timber Dearer To Buy than the imported Australian equivalent
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Originally Posted by POSSUM THE CAT
Why is NZ Timber Dearer To Buy than the imported Australian equivalent
I can answer that if you tell me first why I was buying Nz timber in Australia cheaper than I bought it in NZ. Saw files made in NZ sold an AUZ for one third of the NZ price. Macdunk
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Originally Posted by CJ
Also our wages are two low.
If we had higher wages, they would seem cheap.
Houses would be more expensive as people would have more money to spend, Look what happened when the oz government started given away 14k to new home buys, you guessed it houses sold for an extra 14k overnight
Houses have always been expensive ask anyone whos had to scrimp and save to get in on the bottom rung, admittedly abit more difficult at the moment due to the banks demanding at least 20% deposit
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Mac Dunk we are being robbed on all NZ product NZ cheese far cheaper in AUS than here.
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