Auckland housing market

[warthog]

Different policy tools different objectives mate. Suggest you have a read up of the details of both and why they are employed.

As for the first paragraph it says nothing in regards to your very bold statement let alone provides any data. Can I assume that your statement is simply your opinion? If so, duly noted. If not, Im interested in the source of data that substantiates your claim.

If it is so effective, why is it likely to be canned?

The RB does not have a particularly robust track-record for managing interest rates, inflation and the housing market.

[warthog]

We have been over this before, there is some info in this thread that will clear things up for you.

What specifically are you referring to?

[warthog]

Sorry mate, didn't see your post.

So just to clarify, you were saying the LVRs haven't been effective

No, never said that. They are effective, but the impact blows out to areas where maybe increased house ownership may be preferable.

you say the LVRs are likely going to be canned - where are you getting this information from?

http://www.nzherald.co.nz/personal-f...ectid=11252242
http://auckland.scoop.co.nz/2014/05/...ctions-may-go/
http://www.landlords.co.nz/article/5...lauds-lvr-move
http://www.nbr.co.nz/article/reserve...says-bd-155881
http://assuredproperty.co.nz/lvr-rul...o-by-year-end/

Of course, this could all be hot air.

[winner69]

The place I do agree with you on is the regional aspect of the LVRs. The RBNZ have outlined the basis for their decision in this respect on one of the documents I posted.

What I will say though is that the housing issue needs to be tackled effectively jointly by central and local governments. Im pretty happy that the RBNZ has done about as much as they can to help NZs housing problem. Central and local governments are the ones who have been slacking,the supply issue is a massive one and some traction should have been made on this long ago. Its not like it was an issue that came out of no-where. Housing supply in AUCK for example has been an issue for some time now.

There is NO supply issue in Auckland
http://www.sharechat.co.nz/article/d...tage-nzierhtml

Westpac report 'Where Should We Build Now' sugests that Wellington andvTasman aren't building enough houses

Canterbury is a story in its own right

[winner69]

http://nzier.org.nz/media/better-gro...-media-release

If nothing else the heat map of regional property prices is interesting

[winner69]

Do you still belive this mate?

http://tvnz.co.nz/national-news/conf...-homes-5990838

"Official documents given to ONE News yesterday shows that Housing NZ needs 3000 more homes in Auckland to meet requirements."

Also remember when I said that it was the government not the RBNZ that needed to pick up its game?

"As part of Housing NZ's plan 2000 new homes were to be built in Auckland by late next year, but come February only 81 had been finished. "

Supply is a problem, the government is failing, and now as a result "Housing NZ has resorted to buying homes on the open market in an effort to try and meet urgent demand for state housing."

Absolutely hopeless - so we have a problem with house price inflation, but now after failing to sort the problem on the supply side, the government is now adding to the demand side problem. And you guys think the RBNZ is "not that decisive"?? Get your heads out of the sand people!!

http://tvnz.co.nz/breakfast-news/con...-video-5990843

Jeez you turn a different problem into an argument to support your own views. Even the headline to the story said 'confused'

Nothing to do with a shortage of houses - all about the inept workings of Housing (prob only doing what the govt tells them anyway) in not keeping up with demand for houses for the so called needy.

Last census figures reported 509k dwellings in Auckland (of which 33k were unoccupied by the way) sort of suggests that even through their own failings they are 3000 short doesn't cry out and say there is an overall supply problem

[winner69]

you grumpy today turmeric

Have you considered that maybe, just maybe, the government (HNZ) has purposely not really put much effort into building these 3000 houses.

[winner69]

Yeah I saw that, although I am sometimes a little skeptical of NZIERs work....... (only part of the full post)

OCR rise a 'huge mistake'
http://www.stuff.co.nz/business/mone...a-huge-mistake

Shamubeel probably only looking at some of the consequences .... but at least he didn't repeat there aint a housing shortage in Auckland story

Keeps economists in the headlines - they love that

[Beagle]

OCR rise a 'huge mistake'
http://www.stuff.co.nz/business/mone...a-huge-mistake

Shamubeel probably only looking at some of the consequences .... but at least he didn't repeat there aint a housing shortage in Auckland story

Keeps economists in the headlines - they love that

I spoke at length with the GM of one of the major Australian owned real estate franchises yesterday and he said exactly the same thing about the provincial area's of N.Z. They're doing it really tough already. Interest rate increases are complete madness in my opinion.