I have a conditional agreement on a house in Whanganui.
I'm still waiting for my sale to be confirmed. Kinda nervous about it given the state of the financial markets.
I'm still waiting for my sale to be confirmed. Kinda nervous about it given the state of the financial markets.
My sale has now gone unconditional. 4 weeks all up. (Oh and another couple until settlement). Not bad liquidity for property.
Now I just want to make this perfectly clear that I have never been a property speculator. But as a person in NZ I have simply recognised the importance of tenure.
And so back in 2001 when I tried to rent for a while, after selling a Kingsland villa, it wasnt three months till the landlord wanted me to let viewers through the property. I was livid about that and said no, I am moving out thank you as I am not living in a property on the market - no quiet enjoyment!
So I bought my current apartment
16 years later the price has tripled and I can bank half a million gross profit (untaxed of course). So given I put a hundred K into the venture that would approximately equal a five bagger.
I just couldnt resist and now the deal is done.
And because I am moving to a completely different property market I get to keep half the spoils.
Thanks Auckland
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%.
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
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