Auckland housing market

[troyvdh]

Come on ...everyone knows that here in CHCH ..we have weather....at times 4-5 times a day it can change...."not to hot not to cold"....plus the mainland is truly empty...we have less the population of Auckland here...and long may that continue.....by the way everything hot and cold happens here....cheers...down south its either 15 d minus or 45 plus ...

[MAC]

They’ll all go when they do faster than they come;

http://www.nzherald.co.nz/business/n...ectid=11391731

Attachment 6710

[BFG]

They’ll all go when they do faster than they come;

http://www.nzherald.co.nz/business/n...ectid=11391731

Attachment 6710

Looks like the bubble merchants are starting to spring up to take advantage of the market. No doubt the vast majority of these listings will be in Auckland where they can cream the most off as quickly as possible.

The higher it goes, the more spectacular the implosion...

[MAC]

Looks like the bubble merchants are starting to spring up to take advantage of the market. No doubt the vast majority of these listings will be in Auckland where they can cream the most off as quickly as possible.

The higher it goes, the more spectacular the implosion...

I just wonder too Moosie how many will be exposed to taxation that they are not necessarily aware of and how much the IRD are watching the bubble formation right now also. Inc foreign investors whom may have assumed that there is not any capital gain treatment here.

Anyone buying now and selling out quick within 12 months may very well find the IRD man on their tails.

http://www.ird.govt.nz/property/prop...comes-dealing/

[Zaphod]

Just the restricting foreign ownership of large holdings and expensive houses would go a long way--citizenship should be a requirement.IMO

A register of foreign ownership will help uncover whether this is a large contributing factor. Thus far on the basis of the evidence provided, it appears not to be.

[Schrodinger]

I honestly feel we need to do the European housing version and reign this in before all of us are paying extra taxes to prop up the banks. Not to mention the council is currently looking for other revenue streams to cover for the RMA rort gravvy train.

[Bjauck]

I honestly feel we need to do the European housing version and reign this in before all of us are paying extra taxes to prop up the banks. Not to mention the council is currently looking for other revenue streams to cover for the RMA rort gravvy train.

True...and unlike Greece, Ireland and Spain, we have no Germany who will bail us out.

[Bjauck]

A register of foreign ownership will help uncover whether this is a large contributing factor. Thus far on the basis of the evidence provided, it appears not to be.

A lot of the evidence floating around now is conjecture. Some say because the percent of foreign buyers seems smaller than others suggest then the issue is not great. However surely the type of buyer is relevant. If you have 3% additional 100% cashed up wealthy overseas buyers with access to overseas-based cheaper finance chasing the limited housing stock, it is going to exert far greater upward price pressure as opposed to an extra 3% who need to scrape together a deposit and nz-based finance.

In a tight market the addition of any overseas-based buyer will exert upward pressure. When there are no restrictions on overseas buyers then surely that will have an even greater effect. To the extent that there overseas buyers wanting to invest in NZ and in addition to have access to cheaper finance than Aucklanders/Kiwis, then we will increasingly be priced out of our own market and end up as tenants to absentee landlords.

[Valuegrowth]

http://www.nzherald.co.nz/business/n...ectid=11390463

Housing warning: It's an Ireland repeat

[Entrep]

Doesn't every country have a city like Auckland that attracts a large premium? Look at New York in the US, London in the UK, Sydney in Australia etc. If you want to live in the big cities where presumably there is the most opportunity, then you have to pay a premium. There are plenty of places under $500K in Hamilton etc that are very nice houses otherwise.