Auckland housing market

[Bjauck]

No, actually it's worse that that because in the current Auckland property market it won't be long before all your modest three bedroom homes are valued around $10m!

Auckland owner-occupier ownership of housing would be about 30% then. However possibly, the next financial shock strikes / overseas investors turn their attentions elsewhere and the $10m mansion reverts to a more realistic $5m and the average $800,000 home becomes a more affordable $600,000.

Perhaps Auckland Super City will suffer a rates rebellion from the citizens in the old ACC areas that have seen greater capital appreciation and greater rates rises. Central government will disband the Super City and re-establish the old council areas including the old Otahuhu and Onehunga etc. citing Sydney as a successful overseas example . However rates continue to rise as more "targeted levies" are introduced for infrastructure, global warming and etc.