Auckland housing market

[Valuegrowth]

I feel very sad about first time home buyers in some of the cities in the world such as London, Sydney and Auckland etc. Inexperienced first time home buyers have to depend on others to buy their houses. Those who had experienced in the real estate sector know risk and return, bubble and burst etc. I think this time also some of the first time home buyers will have to pay the price when housing market start to fall.

It looks like that some are thinking this time is different. No It is not different. Next crisis can come at any time.

[troyvdh]

beginning of the end...did anyone see tv1 news...about this bloke taking punters around in designer signed vans...each supposedly buying and doing blah blah...as a job...like a game...much like monopoly...

Its all over folks.

[Joshuatree]

Investors riding wave of capital gain in Auckland cheers troy

Int watching the pause when Key and English are asked if there is a bubble.

[Markymarknz]

Relevant article: "Shades of 87"
http://www.stuff.co.nz/business/6837...shades-of-1987
Also saw the property spruiker on TV1 last night. Such a bogan with his big V8 Holden!
He didn't look that intelligent (extremely judgemental I know) and that seems to be the story with Auckland, anyone can make hundreds of thousands without being smart, in fact without having to do anything....surely it can't go on.

[Jay]

Sean Wood, has been doing the same thing for years, and "training/helping" people buy for around 10 years that I know of.
Some people I know went to a few of their seminars and remember seeing the averts for them.
Think he was doing the same thing when the last "Bubble" was being talked about.

From memory he buys the houses "cheap" - looking for people close to Mortgagee sales, matrimonial sales etc, then on sells them to his "clients" (he calls it wholesale price??)then giving advice on what to do re renovations etc, alternatively he finds the houses for you and/or negotiates for you and you pay him a fee, the latter is what I understood from the piece about it on TV.

Only thing that is new is that it has got media coverage

[artemis]

Are units in retirement villages counted in the new housing numbers - built, under construction or consented? There's a lot of build activity in that market and most purchasers of licences to occupy will have sold the family home.

[Bjauck]

http://www.nzherald.co.nz/business/n...ectid=11447214
Not before time. Those who are buying a residential property to actually reside in should be given preferential treatment.

[baller18]

WIll the new rule make any impact on the property market? Will the prices start to decrease when it comes into effect in october? Or even earlier? Or nil?

[vorno]

WIll the new rule make any impact on the property market? Will the prices start to decrease when it comes into effect in october? Or even earlier? Or nil?

Well, let me put it to you this way... you can side-step a turd but you can't avoid the freeway.
We've had Net ~50,000+ move to NZ in the last year vs less than 10,000 new homes built in AKL. It is fair to assume that at least 50% of those moving to NZ will settle in Auckland.

Therefore, both rent & house prices will increase.

[winner69]

http://www.stuff.co.nz/life-style/ho...lls-for-677000

Suppose a decent piece of land in a desirable part of town