Auckland housing market

[macduffy]

No, speaking properly is a sign of being a South Islander!

[Bjauck]

My surname is French but that side of the family came to NZ generations ago - from Ireland. I wonder what the Labour Party would do with that one!

I still think that foreign (to be clear, foreigners resident overseas) buyers should be restricted to building new houses if they wish to buy property here).

[Aaron]

No, speaking properly is a sign of being a South Islander!

North of Balclutha maybe, don't roll your R's do you Macduffy.

Anyway to me the issue isn't race it is the wholesale selling of NZ land to foreigners any foreigners. It just happens that currently they are mostly from Asia and yes a lot of racist kiwis would be more comfortable if it were Poms buying all our land keeping their house prices up but I think it doesn't matter where they are from don't let foreigners buy land or existing assets in NZ at the expense of our young people. Invest in NZ maybe, build new houses or businesses for sure. The only thing that makes the Chinese situation worse is that we don't have any reciprocal opportunity to buy land over there as far as I know.

I also appreciate that we are a country of immigrants but I like the fact that NZ doesn't have a huge population. Japan and the UK are the same land size as us but is their quality of life any better than ours. I don't know.

[vorno]

If speaking English "properly" is a sign of being foreign....then that would include most of us...

So on that basis vorno Maori who do not speak English properly must be foreigner's as well then

I've decided to simplify my post by saying: Go to open homes, go to auctions and you'll see what I'm talking about!

[Zaphod]

If New Zealanders are against foreign property buyers, then why do we sell to them in the first place? It seems that money in our own pockets trumps any moral indignation.

[Aaron]

If New Zealanders are against foreign property buyers, then why do we sell to them in the first place? It seems that money in our own pockets trumps any moral indignation.

For sure, it depends if you see unaffordable housing as a problem for the younger generation. If you own houses already it is the opposite of a problem. I don't think any NZer would turn their nose up at a higher offer from overseas. That is why you have a central govt deciding what is best for the country over what is best for the individual wanting to sell their house. Assuming Auckland's rising house prices are a problem, debate and action around supply has/is taken place and from what I read supply won't keep up therefore the next step is look at demand. Is there a way to curb demand. Restricting immigration and/or foreign ownership is one way. I would suggest that the States, China , Europe etc stop expanding the money supply so rapidly. They have got inflation and the speculators are doing well but is it good or is it destabilising time will tell.

[vorno]

If New Zealanders are against foreign property buyers, then why do we sell to them in the first place?..

As a rule its not a problem, however when the stats are as scew as they appear to be the simple fact remains - there are too many people with too much money pushing up the market. A different to way to look at it is simply the investor vs ownership numbers.

I'd prefer not having to move out of Auckland in order to afford a house, but that is looking increasingly unlikely.

[macduffy]

If New Zealanders are against foreign property buyers, then why do we sell to them in the first place? It seems that money in our own pockets trumps any moral indignation.

That's an interesting point. As a generalisation, NZers outside Auckland probably would want to see some monitoring of, and controlling of foreign property purchasers. Aucklanders who are not property owners, likewise. Auckland property owners, not so concerned with a good number cheering on the price rises and unrealised wealth increases that this ostensibly confers on them! So ........ it depends.

[macduffy]

If New Zealanders are against foreign property buyers, then why do we sell to them in the first place? It seems that money in our own pockets trumps any moral indignation.

That's an interesting point. As a generalisation, NZers outside Auckland probably would want to see some monitoring of, and controlling of foreign property purchasers. Aucklanders who are not property owners, likewise. Auckland property owners, not so concerned with a good number cheering on the price rises and unrealised wealth increases that this ostensibly confers on them! So ........ it depends.

[artemis]

That's an interesting point. As a generalisation, NZers outside Auckland probably would want to see some monitoring of, and controlling of foreign property purchasers. Aucklanders who are not property owners, likewise. Auckland property owners, not so concerned with a good number cheering on the price rises and unrealised wealth increases that this ostensibly confers on them! So ........ it depends.

I would have picked that the other way round. Certainly it seems to be Aucklanders who are railing against high prices which may - or may not, who knows - be caused by offshore buyers. Outside Auckland, not so much and in some places a fillip to prices might not be so unwelcome.

Auckland's rising population and housing supply imbalance means there are more voices raised against unaffordability. And a lot of media attention too, which might be giving the issue more airtime than it actually warrants.