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  1. #451
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    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 10:12 PM. Reason: word or two disclamer

  2. #452
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    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
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    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
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    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
    FEAR n GREED JBmurc's Avatar
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    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 08:50 PM.
    "With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu

  6. #456
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    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
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    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
    Speedy Az winner69's Avatar
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    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
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  9. #459
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    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
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    Hamilton doesn't lag behind much at all we respond to aucklands market extremely quickly as Auckland is very active in our market here.

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