property is the only way to save.

[Skol]

Figures released by Quotable Value today show that Auckland house prices are up 13.1% in the past year and 34.6% since the last market trough in March 2009. That compares with a 1% decrease in the median family income in Auckland in the past year and an 8% increase since 2009. House prices in Auckland continued to accelerate in the last month despite the Reserve Bank’s announcement of the introduction of Loan-to-Value Ratios.
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Just out today. The usual BS from Labour and the Greens how they're going to control the housing market with a CGT. No one ever put a tax on anything I know of that drove the price down.

[duncan macgregor]

Wheeler is hoping his bag of tricks is going to bring house price inflation down to 4-5%, not to mention the OCR rising sooner than thought and banks cherry-picking who to lend to. The bubbles going to start slowing down soon. Sad I am much too young to have bought in at the bottom, but there is always money to be made elsewhere. Hope selling out when the market slows down/goes down works out for ya Skol

The people that waited on the bubble bursting before buying in have all died of old age. If the economy collapses and money is worth nothing then property is one of the few assets worth owning. The reason house prices are so high is GST first of all followed by the ridiculous cost of compliance which adds at least 30%on top of the 1960 level of a new home. The cost of houses in my experience goes up on average 10% a year regardless of short term trends. I expect the people waiting to time the market will remain without a property and die of old age as they have always done. Short term solution for first home buyers let them claim back the GST on their first home to add to the deposit payable back on the sale. macdunk

[skid]

Everything goes up and down--so far Auckland has been doing well (location-location-location)-some other parts of the country-not so well.
Then of course theres equity-If you are up to your eyeballs in debt-leveraging a string of houses on the one before--you could be on dangerous ground.
Cant complain though-i bought(when you could)for affordable prices mostly because aside from the necessary need of a roof over your head,you can put energy into a house and increase its value,Then saved-saved and bought another with big deposit,fixed up,etc. and now almost accidentally Im doing ok--IMHO whether you buy now and save or save and buy -saving is an important factor--PAY DOWN THAT MORTGAGE

[In4a$]

Auckland property beats bullion, easily, and will continue to do so. And you get rent!


http://www.stuff.co.nz/business/mone...ng-heat-tipped

Problem with property and rent, is every one you buy, you prevent some young family and or first home buyer from buying. Then you try and make money from charging them rent. To much like taking advantage of those less fortunate than yourself. Best have a clear conscience and invest in shares, and then you are helping the country grow.

[couta1]

A friend of mine suggested I buy a rental after hearing of my Chorus loss, I told him I can get a much better return from Summerset and Ryman without the hassle of worrying about tenants oh and I don't live in Auckland

[In4a$]

I was seeking advice on property investements from my old boss in the 80's (very succesful farmer & businessman) and he said,
" it's much better to loan a man the money to buy a house than have him as your tenant. You'll get a bigger return financially and mentally". "Or put your money into a business and create wealth and jobs, creating something will give you bigger rewards".

[iceman]

Problem with property and rent, is every one you buy, you prevent some young family and or first home buyer from buying. Then you try and make money from charging them rent. To much like taking advantage of those less fortunate than yourself.

That's nonsense In4a$. A rental property is a legitimate and good part of an investment portfolio alongside shares, bonds and TDs.
For an example, I have rental properties and use one of them to provide housing for newly arrived refugee families, who can not afford to buy their own homes. I feel good about it and not at all like I am "taking advantage of those less fortunate" ! Quite to the contrary actually.

[fungus pudding]

I was seeking advice on property investements from my old boss in the 80's (very succesful farmer & businessman) and he said,
" it's much better to loan a man the money to buy a house than have him as your tenant. You'll get a bigger return financially and mentally". "Or put your money into a business and create wealth and jobs, creating something will give you bigger rewards".

Nobody can be right all the time.

[In4a$]

Nobody can be right all the time.

He was right that time,

[fungus pudding]

He was right that time,

Such a wide and wild generalisation could hardly be right as often as it is wrong.