Foreign buyers estimated at 29%

[Valuegrowth]

I doubt new generation in NZ can afford to buy their first home except few. I find serious housing market issues in many countries such as UK, New Zealand, Australia and Canada etc. We find similar situation in some Asian countries as well. Definitely,we should see some sort of crisis during next five to 10 years.

[JBmurc]

I doubt new generation in NZ can afford to buy their first home except few. I find serious housing market issues in many countries such as UK, New Zealand, Australia and Canada etc. We find similar situation in some Asian countries as well. Definitely,we should see some sort of crisis during next five to 10 years.

best outcome imho is a small 10% pullback and a flat market for as many decades as we need to see incomes to catch up .... worst is a major crash of course with all the pain that will course be affected on average kiwis....

[Valuegrowth]

I agree with you. However, anything can happen in any asset category depend on the situation at that time.

best outcome imho is a small 10% pullback and a flat market for as many decades as we need to see incomes to catch up .... worst is a major crash of course with all the pain that will course....

[Aaron]

https://www.stuff.co.nz/business/pro...may-be-foreign

Not sure if I understand what he is saying here.

"Auckland and Queenstown have the highest proportion of sales to overseas buyers and the smallest proportion of sales to New Zealand citizens.
But Smith said it was probably only a coincidence that they were also the areas with the highest house prices in the country. "If anything, those prices probably reflect more what's happening globally than anything domestic.""


Probably I am the thicky but would you suspect a correlation between more foreign buyers and high house prices rather than it being a mere coincidence. Maybe the statement was written incorrectly because it is justified by the quote "it probably reflects what is happening globally" Maybe he means easy money and low interest rates are pushing up prices globally. Akld and queenstown following the trend up faster than the rest of NZ 20% foreign buyers and this is likely to be coincidental ???? f**ken retarded statement if you ask me.

Hopefully we hear about the next housing crisis sometime soon with a crisis as prices drop and houses become more affordable. Looks like wages might rise to meet them as well. Upsetting for the greedy generation but good news for the future generations of NZ. Maybe if young people could afford a house they might have a family then we could close or reduce the immigration spigot. 5million is more than enough for a country the size of NZ.

Reserve bank doing its best to keep the party going with talks of lowering interest rates if anything goes down.

[JBmurc]

https://www.stuff.co.nz/business/pro...may-be-foreign

Not sure if I understand what he is saying here.

"Auckland and Queenstown have the highest proportion of sales to overseas buyers and the smallest proportion of sales to New Zealand citizens.
But Smith said it was probably only a coincidence that they were also the areas with the highest house prices in the country. "If anything, those prices probably reflect more what's happening globally than anything domestic.""


Probably I am the thicky but would you suspect a correlation between more foreign buyers and high house prices rather than it being a mere coincidence. Maybe the statement was written incorrectly because it is justified by the quote "it probably reflects what is happening globally" Maybe he means easy money and low interest rates are pushing up prices globally. Akld and queenstown following the trend up faster than the rest of NZ 20% foreign buyers and this is likely to be coincidental ???? f**ken retarded statement if you ask me.

Hopefully we hear about the next housing crisis sometime soon with a crisis as prices drop and houses become more affordable. Looks like wages might rise to meet them as well. Upsetting for the greedy generation but good news for the future generations of NZ. Maybe if young people could afford a house they might have a family then we could close or reduce the immigration spigot. 5million is more than enough for a country the size of NZ.

Reserve bank doing its best to keep the party going with talks of lowering interest rates if anything goes down.

Yeah don't you just love it ... we keeped rates low to help spur the rise in property ....but if they dare come down to anywhere normal somewhat affordabe we will ease rates leading to a lower NZD in turn increasing inflation across all consumerables Fuel $3 here we come
and increasing foreign capital value to snap up all the deals.