sharetrader
Page 31 of 32 FirstFirst ... 21272829303132 LastLast
Results 451 to 465 of 466
  1. #451
    Member
    Join Date
    Apr 2017
    Location
    Palmy, NZ
    Posts
    40

    Default

    Wooh, what happened to Auckland with the whole million dollar price tag stuff we all got told about just a few months ago?
    $865k, now.
    So my initial statement was that Auckland house prices were in bubble territory but it kinda looks like a deflating bust now.... Nah I think Auckland's house prices are going to go down a lot more when you have more motivated sellers trying to get out from under large mortgages.

    After Auckland's leaky building fiasco, (literally I have a family member that wrote the book on that) and the ongoing cheap building materials being everywhere I'd have no faith in off plan apartment purchasing. My $0.02 of course!! I'm not everyone.
    Last edited by Blackrose; 24-06-2017 at 11:12 PM. Reason: word or two disclamer

  2. #452
    Senior Member
    Join Date
    Aug 2012
    Posts
    1,269

    Default

    Quote Originally Posted by Blackrose View Post
    Wooh, what happened to Auckland with the whole million dollar price tag stuff we all got told about just a few months ago?
    $865k, now.
    Depends - are you comparing median price with average price? Average price is a fair bit higher than median. Also, median prices can vary month to month depending on mix of expensive v. cheap houses sold during the month.

    So my initial statement was that Auckland house prices were in bubble territory but it kinda looks like a deflating bust now....
    I am not sure about that. See above.

    ...
    After Auckland's leaky building fiasco, (literally I have a family member that wrote the book on that) and the ongoing cheap building materials being everywhere I'd have no faith in off plan apartment purchasing. My $0.02 of course!! I'm not everyone.
    Opinion piece in the NZH
    http://www.nzherald.co.nz/business/n...ectid=11880933

  3. #453
    Senior Member
    Join Date
    Aug 2012
    Posts
    1,269

    Default

    Quote Originally Posted by MARKETWINNER View Post
    There are most expensive cities in Asia and Africa as well.

    https://face2faceafrica.com/article/luanda-expensive-2

    What Makes Luanda Most Expensive City in the World?
    You missed an important qualifier. The most expensive city for ex-patriates. "The rising demand for luxurious housing in Luanda against a limited supply of it has seen the cost of housing rise steadily over the past decade."

    I am betting there are broad swathes of Luanda where the burgeoning ex-patriate oil executive population would not live. Luanda, Angola, is recovering from a civil war - unlike Auckland!

  4. #454
    Member
    Join Date
    Apr 2017
    Location
    Palmy, NZ
    Posts
    40

    Default

    I am chicken little. I think the sky is falling, and the Auckland's housing market is going down too.
    But eh! If your that confident that it's not go ahead.

  5. #455
    Legend JBmurc's Avatar
    Join Date
    Sep 2002
    Location
    Central Otago
    Posts
    6,377

    Default

    Reading the NZ Property mag put some of the hottest Auckland Suburb ....the highest 2.7mill average for 3bed the lowest in country -Bluff in southland 3brd- 130k average .....
    Last edited by JBmurc; 26-06-2017 at 09:50 PM.
    Sell the hype, buy the fear. Always second guess the sentiment but trust in the fundamentals

  6. #456
    Member
    Join Date
    Sep 2013
    Posts
    145

    Default

    Thought I'd ask the people who would know, https://www.stuff.co.nz/business/952...n-new-listings

    What does this actually mean?

    Will the remaining sellers start to decrease the asking price now?

  7. #457
    Junior Member
    Join Date
    Jun 2017
    Posts
    20

    Default

    I'm personally a realestate agent, my take on the article and what's actually happening in the market place is a lot different than the media reports. First in response to the article quite simply you may see a small surge back up with prices as the buyers are now once again outweighing the sellers. I'm in hamilton and we are consistently having multiple offers on properties and auctions are still being brought forward. The houses sold at auction day has decreased but the number sold hasn't ( many selling only a few days after auction.) in our office meetings we are seeing a large number of buyers unable to find options. I'm busier than most agents (number two in the city for my brand) so there will be many saying it's slow and hard but these agents are new and haven't been in this type of market before. Some sellers are waiting to sell until after elections as there is always a slow down market wise historically which then takes off again from January.

  8. #458
    An awesome cool cat
    Join Date
    Jun 2001
    Location
    , , .
    Posts
    17,061

    Default

    Quote Originally Posted by SirPrize View Post
    Thought I'd ask the people who would know, https://www.stuff.co.nz/business/952...n-new-listings

    What does this actually mean?


    Will the remaining sellers start to decrease the asking price now?
    Don't forget the housing market as outlined by the media is not the property market in reality
    "When investors are euphoric, they are incapable of recognizing euphoria itself"

  9. #459
    Senior Member
    Join Date
    Aug 2012
    Posts
    1,269

    Default

    Quote Originally Posted by Topagent View Post
    ...I'm in hamilton and we are consistently having multiple offers on properties and auctions are still being brought forward. The houses sold at auction day has decreased but the number sold hasn't ( many selling only a few days after auction.) in our office meetings we are seeing a large number of buyers unable to find options.
    Mayby Hamilton is at the position Auckland was a couple of years ago. I increasingly hear of Aucklanders, moving up to 150 km North and South just to buy a home without huge mortgages and clogged up neighbourhoods. Previous Auckland booms have seen a subsequent booom (although not to the same extent) elsewhere.

  10. #460
    Junior Member
    Join Date
    Jun 2017
    Posts
    20

    Default

    Hamilton doesn't lag behind much at all we respond to aucklands market extremely quickly as Auckland is very active in our market here.

  11. #461
    Update Ready To Install
    Join Date
    Aug 2010
    Location
    Floating Anchor Shoals
    Posts
    4,940

    Default

    Is that good tactic topagent re forcing an auction forward?. My friend put his best offer on a house and the auction was brought forward.It had only been listed a short while so hardly anyone else got to look at it.Only one other contender who pulled out because s/he didn't have enough time to do due diligence. So my friend scored the house quickly without any comp but i guess he may wonder if he paid to much. But he'd been looking and bidding a few months previously and was fatigued and running out of time to buy and shift his business into the basement.
    Last edited by Joshuatree; 02-08-2017 at 10:01 PM.

  12. #462
    Junior Member
    Join Date
    Jun 2017
    Posts
    20

    Default

    Every situation is different and alot of it depends on the appraisal we did before marketing also the level of inquiry ect. In some cases we recieve a pre offer but have huge interest and the vendor will wait in other cases we may have little traction and the offer is at a good level that the owner is happy to sell. Here in Hamilton our firm brings it forward so bidding starts at the accepted level. I've had many auctions end up selling to someone other than the original bidder.

  13. #463
    An awesome cool cat
    Join Date
    Jun 2001
    Location
    , , .
    Posts
    17,061

    Default

    Funny as REINZ blaming the LVR rules in making life hard for them .....incomes down big time I reckon
    "When investors are euphoric, they are incapable of recognizing euphoria itself"

  14. #464
    Legend JBmurc's Avatar
    Join Date
    Sep 2002
    Location
    Central Otago
    Posts
    6,377

    Default

    Quote Originally Posted by winner69 View Post
    Funny as REINZ blaming the LVR rules in making life hard for them .....incomes down big time I reckon
    Of course REINZ poor kiwis not being able to tick themselves to the eyeballs.... (less sales less FAT commissions) ...If REINZ had their way it would be 95% LVR ...

    Always laugh at the many emails I receive from local R.E agents ...(which you get hammered with if you dare ask a Question online on a property they have listed next you're email bombed )

    I love the likes of Invercargill where Property is flat and isn't even reached the same prices it had back at its peak in the 2000's ....then you get R.E talking utter BS like -http://www.stuff.co.nz/national/92427656/southland-property-market-starved-for-listings

    yet go to RE nz and Invercargill has about the same amount of listings as dunedin a city more than twice the size ...friends in Invers have taken their fully renovated home asking only 230k off the market after 6 months of nil interest sounds like the same right across the city ....got a few on my watchlist I was looking at as investments etc ....still there
    Last edited by JBmurc; 12-08-2017 at 11:12 AM.
    Sell the hype, buy the fear. Always second guess the sentiment but trust in the fundamentals

  15. #465
    Member
    Join Date
    Apr 2017
    Location
    Palmy, NZ
    Posts
    40

    Default

    So this just in.
    https://www.newsroom.co.nz/2017/08/1...r-another-boom

    BEnglish wants to do away with macro prudential controls such as the LVR and no to a DTI. Well colour me impressed with the RE industry. You really know how to keep people in generation rent in their place don't you? Some top notch lobbing there you army of property flipping crooks. I can almost see a hand puppet with a Bailey's blazer up BEnglish's back side playing him like the muppet he is.

    When not if - when this all goes tits up, as over extended over priced housing hits the wall in the next few years we can point to this moment when RBNZ Wheeler washed his hands took the golden parachute said "Thanks gents - no one listened to me on LVRs or DTIs - so I'm off to take some snooze in Rarotonga, and call it retirement."

    So the housing bubble will continue to scream on until... the interest rate hike and market forces will kill it.

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •