OCA - Oceania Group - retirement villages

[Beagle]

hey Beagle - don't concentrate on annual increases (like v Sept 19)

You need to look at whats happening NOW

Like HPI for Auckland up 2.4% in last month and 6.4% over last 3 months (June to Sept)

That's nearly a 30% annualised increase

Aren't Oceania selling a few in Auckland at the moment

Cool eh

Very good point mate and most of that over winter and before the 1.99% mortgage rate !
Yes big development sales in Meadowbank and the Sands.
Nelson - Brand new facility just opened and look at the sales volumes there

Nelson: +66.2% (from 65 to 108 – 43 more houses) – the highest for the month of
September in 17 years
Nelson values up 14.5% in the last year...BUT
Compared to August 2020
• Median Price up 8.6%

Heck mate, Nelson up 8.6% in just the last month that's an annual rate of 103% per annum !!
When one takes close focus on what's happening in the real estate market NOW as me ol mate Winner has very astutely mentioned, the future does indeed look extremely promising.

[winner69]

Stephens from Westpac is the most useless of the bank economists in this country

His team surprised how strong market currently is but at least he’s getting back to some sort reality when they say ‘Westpac's economists think the current housing boom will continue well into next year...’

https://www.interest.co.nz/property/...-and-wonder-if

[winner69]

What did CBRE or whoever revise their property price movements down to?

[Cyclical]

Stephens from Westpac is the most useless of the bank economists in this country

His team surprised how strong market currently is but at least he’s getting back to some sort reality when they say ‘Westpac's economists think the current housing boom will continue well into next year...’

https://www.interest.co.nz/property/...-and-wonder-if

The article mainly talks about the RBNZ's stimulus by way of the OCR, but I don't know that they have a lot of options here as kinda need to follow our trading partners to keep a cap on the NZD. What isn't mentioned in the article is the influence the culling of the LVR requirements has had, which I reckon has opened the flood gates in a big way, although you'd hope the banks have started to apply some caution in this respect.

"...strongest September sales volumes in 14 years..." Hmm, back to pre GFC... Will be really interesting to see what (if anything) the RBNZ do to put the brakes on. Doesn't sound like any help is coming by way of Cindy.

[Beagle]

What did CBRE or whoever revise their property price movements down to?

Going off memory mate I think when CBRE did their April 2020 valuation for OCA's May 2020 balance sheet, (yeah I know, go figure ?), they were talking minus 2% in the coming year.

[macduffy]

Expect to see fairly strict LVR's re-introduced once the election is out of the way.

[Cyclical]

Expect to see fairly strict LVR's re-introduced once the election is out of the way.

Probably, and any whiff of that will only exacerbate buyer panic in the mean time.

[winner69]

Two guys chatting loudly in cafe were going about how the second term of a Labour government always sees property prices rocket ahead ..and investors (I’d call them speculators) love it.

[Maverick]

Two guys chatting loudly in cafe were going about how the second term of a Labour government always sees property prices rocket ahead ..and investors (I’d call them speculators) love it.

Winner , ol' buddy ol' pal, do fill us all on your mates down at the bowling club. Did they sell, buy more or just do what most people do and were paralyzed by indecision ? ( AKA hold) ....chances are they are feeling ok about now?

[Beagle]

Winner , ol' buddy ol' pal, do fill us all on your mates down at the bowling club. Did they sell, buy more or just do what most people do and were paralyzed by indecision ? ( AKA hold) ....chances are they are feeling ok about now?

Don't know about them but the top gun team are feeling pretty good aren't they Just the start though...lots of fun in the years to come.