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  1. #496
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    Quote Originally Posted by peat View Post
    looks like a deal will be cut tomorrow - very exciting!
    Can I ask how much you paid for it and what year if you remember?

  2. #497
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    Quote Originally Posted by NeverQuestion View Post
    Can I ask how much you paid for it and what year if you remember?
    Pretty much answers that in post 494. Well done Peat

  3. #498
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    Quote Originally Posted by iceman View Post
    Pretty much answers that in post 494. Well done Peat
    Thanks! Must be going blind!

  4. #499
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    Interesting to see banks already lowering rates in anticipation of the reserve bank reducing rates in the future, its not something you see everyday. I remember the times when rates would go down and banks wouldn't move their rate down the full .25% and get criticised for it. Pretty sure the move down is pre-emptive because the Auckland market has gone soft and needs more blood injected into it. The last REINZ market report showing the least amount of sales for March since 2008 and median prices down 2.7%.

  5. #500
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    Quiet enjoyment of your home?
    A reminder for all those families and others priced out of home ownership by investors?
    Why being a tenant in NZ is not a secure and stable alternative to home ownership.
    https://www.stuff.co.nz/business/112...ion-of-a-house

  6. #501
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    Probably Auckland doesn’t have such an extreme housing shortage any more, at least to the extent it was made out to be....30,000 have left looking for cheaper housing elsewhere
    “Just consider that maybe the probability of you being wrong is higher than you think.”

  7. #502
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    Quote Originally Posted by winner69 View Post
    Probably Auckland doesn’t have such an extreme housing shortage any more, at least to the extent it was made out to be....30,000 have left looking for cheaper housing elsewhere
    There is a lot of pent up demand on the part of prospective first home owners. Are Younger professionals, who would have been home owners in past generations, often in flatting situations or still living with parents?

    Probably the unholy spectacle of widespread strikes of teachers during a Labour administration is caused in part by the creeping unaffordability, up the income levels, of home ownership. As a greater percent of Auckland housing ends up owned by investors, are teachers being priced out of home ownership?

  8. #503
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    I don't know where the 30,000 number comes from - probably not Stats' latest census debacle! But in any case, it won't be a net figure, I wouldn't think?

  9. #504
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    Quote Originally Posted by macduffy View Post
    I don't know where the 30,000 number comes from - probably not Stats' latest census debacle! But in any case, it won't be a net figure, I wouldn't think?
    Came from Benje

    https://www.benjepatterson.co.nz/wp-...m-Auckland.pdf
    “Just consider that maybe the probability of you being wrong is higher than you think.”

  10. #505
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    Thanks, winner. An offset against the 197,000 inflow!

    "Graph 1 shows that cumulative regional migration losses of Aucklanders leaving for other parts of New Zealand totalled almost 33,000 people over the four years to June 2017. These internal migration outflows partly offset Auckland’s 197,000 person gain from international migration and natural increase."

  11. #506
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    NZ will have up to 37,000 AirBNB properties to rent for long term tenants?
    https://www.scoop.co.nz/stories/BU18...ts-in-2017.htm

  12. #507
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    Quote Originally Posted by kiora View Post
    NZ will have up to 37,000 AirBNB properties to rent for long term tenants?
    https://www.scoop.co.nz/stories/BU18...ts-in-2017.htm
    I've noticed a few Airbnb's coming onto trademe property now as rentals already. Something to keep an eye on, if you see inner city properties that are fully furnished all of a sudden and available immediately, its probably a sign. Expect that to rise as time goes.

  13. #508
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    Quote Originally Posted by kiora View Post
    NZ will have up to 37,000 AirBNB properties to rent for long term tenants?.....
    Remains to be seen. They have a more flexible cost structure than standard rentals (higher per night income) and hotels. Motels are filling up with emergency housing, and that demand will increase, sending even more visitors into the arms of other short term suppliers.

    Hard to know what will happen with net migration, hence demand. Australia has advised our folk over there to come home if they don't qualify for welfare. That could be tens of thousands of households. And what happens to developers with consents to build who go broke. Happened a lot in the GFC with supply well down.

  14. #509
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    Aucklanders priced out of home ownership take note. Coronavirus is highlighting NZ tenants rights or lack thereof. This Landlord, who had been living overseas, is aggrieved that 42 days notice to evict sitting tenants is extended under Coronavirus measures. Under NZ law, residential tenants do not have homes. They pay the income for somebody's investment.

    https://www.stuff.co.nz/business/300...eave-his-house

    Will the World-wide Coronavirus recession see absentee landlords, who had been resident overseas, returning to NZ and evicting their sitting tenants, so that the landlord can live in the house.
    Last edited by Bjauck; 14-05-2020 at 10:51 AM.

  15. #510
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    Quote Originally Posted by Bjauck View Post
    Aucklanders priced out of home ownership take note. Coronavirus is highlighting NZ tenants rights or lack thereof. This Landlord, who had been living overseas, is aggrieved that 42 days notice to evict sitting tenants is extended under Coronavirus measures. Under NZ law, residential tenants do not have homes. They pay the income for somebody's investment.

    https://www.stuff.co.nz/business/300...eave-his-house

    Will the World-wide Coronavirus recession see absentee landlords, who had been resident overseas, returning to NZ and evicting their sitting tenants, so that the landlord can live in the house.
    NZ is worse than most places around the world for tangling rental ownerships with individual non-rental ownership. I swear if the NZ gov't took away the tax free motive of using residential houses as investments, then we wouldn't have these types of problems. Such as if the person uses their own home and rents it out, then they would lose their tax free capital gain status on the house (this is done in Canada as use of house is recorded ; even renting a portion of the house, that % of the principle dwelling will have taxable capital gain).

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