Why property prices in NZ are to high compared to other countries.

[fungus pudding]

Hi Possum, most of the ones I looked at on trademe were for sale at 10% over the latest cv, and recent sales at over cv as well.
One not far from here is for sale at 260k, cv 290k, but it has rough tenants with a rotten bathroom floor etc. My read on things at this point is that a well maintained house in a good area etc. is holding or exceeding its cv. Won't know for sure till we sell which could be in 3 yrs or so. Would this be the first 3-4 yr period in Auckland's history when values have decreased - I see Rodney is worse off?

PS. A friend in Mt Albert his cv went from 360k to 390k yet he's in a poor area, ghetto music next door, his house is a mess, so there doesn't seem to be any rhyme or reason - perhaps his proximity to Maioro motorway entry is a factor.

Qv is not, and is not intended to be the market valuation.

[George]

Qv is not, and is not intended to be the market valuation.

I agree FP, another example, house in my street, old qv 420k, new qv 400k, sold last week at auction for 452k. Looked well maintained house and had a full section. With the other examples I quoted it seems that there are buyers in the Henderson and nearby areas pushing up prices since latest valuations were done.

[skid]

Meanwhile ,our rental in Mt albert rerated at 890000 and taxed accordingly WTF Man do I hate being levied so some silly mayor wants a train to the airport!

[fungus pudding]

Meanwhile ,our rental in Mt albert rerated at 890000 and taxed accordingly WTF Man do I hate being levied so some silly mayor wants a train to the airport!

Just wait till Goff and his crazy mates try charging your EQC levy according to your rateable value.

[George]

This article lends weight to the first post in this thread about rising compliance costs
http://www.nzherald.co.nz/nz/news/ar...ectid=10764310

[duncan macgregor]

The real problem Goerge is an industry controled and regulated by people with no practical no how, making all the decisions at a tremendous wasted cost to the customer at the end. Back in the fifties before leaky homes were invented, the building inspector was a practical man that made decisions with the builder about any minor problems that might show up. Now with resource consents at every turn along with engineers reports that cost a fortune the bastards want to charge $170 an hour to sit on their backsides looking over plans. Then we have people thinking the poor developer is the problem because of the rising cost of the end product. The ratio of developers going broke is much higher than most industries due to all this rubbish. Macdunk

[loofa]

My understanding of qv values is that they do not include value of chattels which can vary from nil to $50k.
Also some changes are not reflected - redecoration, new kitchen/bathroom can be above general in that type and age of house.
You pays your money......

[duncan macgregor]

The latest ridiculous cost that first home buyer will get lumbered with is having to scaffold the entire house in order to roof it. The house being built down the road is a single storey home on a dead flat site with a scaffolding cost of $2400. I said to the builder thank the lord i got out the game before this latest stupidity was forced on us. Not only is it expensive, but it is a great hindrunce to the poor roofer trying to negotiate past it.I Built hundreds of houses never used anything higher than trestles on a single storey building. The builder tells me new house prices will sky rocket with most of the builders fleeing the country. The difference in compliance cost including GST from yester year is making owning your first home unaffordable to most. I definately if I had my time over again would never even consider building new houses in NZ. Macdunk

[winner69]

Does this mean scaffold all round for the house for a re roof as well mcdunk

[duncan macgregor]

Does this mean scaffold all round for the house for a re roof as well mcdunk

I would expect so but why not?, if its consistant stupidity. That would cost you nearly half again for a reroof in zincalume. Makes it twice as hard to do the job in the first place.
Macdunk