Auckland Housing Affordability

[speights boy]

^ Are you saying we should welcome the proceeds of corruption into this country then ?
Or should we do everything we can to try to stop NZ being used to launder such funds ?

[speights boy]

What a surprise......NOT

Documents obtained under the Official Information Act show tax officials are more concerned about the extent of offshore buyers in the New Zealand market than the government has previously admitted.

“Offshore investment is significant and often masked,” a briefing to the Commissioner for Inland Revenue Naomi Ferguson stated in April this year.

Rob Hoksing reports.

http://www.nbr.co.nz/article/foreign-property-investment-often-hidden-ird-rate-rises-and-council-cost-conundrum-crown

My Bolding

[speights boy]

This Govt is out of ideas.
Not that they had many real ones in this area to begin with.

My prediction.
They will announce a 'significant' (in their opinion) policy to tackle the demand side within the next four months.

It will of course be pathetically 'too little, too late'

Barfoot's average sale price hits new record of $826,474 in June

[donthatetheplayer]

What a surprise......NOT

http://www.nbr.co.nz/article/foreign-property-investment-often-hidden-ird-rate-rises-and-council-cost-conundrum-crown

My Bolding

Wow. Who would have guessed...

[speights boy]

Ha.
A few months ago it was "the increase in AKL house prices is not acceptable; our policies will fix that"

Now......

Nick Smith: House prices not my fault

Out of ideas, and rapidly running out of time.

[Perry]

The Peter Principle at work.

[speights boy]

Barfoot's managing director Peter Thompson said he sensed a change in sentiment in Auckland.

"While the new Government and Reserve Bank measures which are due to come into effect in October are likely to be having some impact on prices, as will the approach of winter, there is also a growing feeling among buyers and sellers that homes are close to being fully priced."

However, ASB economist Chris Tennent-Brown expected "continued strength in Auckland house price inflation," reflecting the shortage of listings, strong population growth and declining mortgage rates.

He suggested house prices could rise further if the Reserve Bank cut interest rates three more times this year, as ASB is forecasting.

http://www.stuff.co.nz/life-style/home-property/69941465/barfoot--thompson-auckland-housing-market-could-be-nearing-peak

[Perry]

"Strong population growth" being just a synonym
for unchecked, rampant immigration, I presume.

[Davo36]

Nice link SB.

I think I've said here for some time foreign investment (in quite a few westernised countries actually) is a huge problem.

The Chinese government prints money, and it finds its way around the globe.

And also, Russian and Indian money looks for a home. Along with many other smaller ones I guess.

[speights boy]

"Strong population growth" being just a synonym
for unchecked, rampant immigration, I presume.

You may be right.
Of course one is not encouraged to say that; lest the 'X' men rush to their keyboards to throw labels around.

[nicsa122]

Im a strong believer that the media is a major player in the Aauckland housing bubble, and that the media will be the ones to burst the bubble...and that process may just be starting...http://i.stuff.co.nz/life-style/home...e-nearing-peak

[eri]

chinese gov isn't printing money

so much as swapping their products for our $

if we don't want them coming here and spending them

we should stop buying their stuff

then they can stop buying our wood, milk powder etc

and we can all go back to the 18th century

which the greens would probably very much like

supply + demand

auckland council choked supply side

got their numbers wrong whatever

[speights boy]

Documents obtained under the Official Information Act show tax officials are more concerned about the extent of offshore buyers in the New Zealand market than the government has previously admitted.

“Offshore investment is significant and often masked,” a briefing to the Commissioner for Inland Revenue Naomi Ferguson stated in April this year.

[PTILoveYou]

Documents obtained under the Official Information Act show tax officials are more concerned about the extent of offshore buyers in the New Zealand market than the government has previously admitted.

“Offshore investment is significant and often masked,” a briefing to the Commissioner for Inland Revenue Naomi Ferguson stated in April this year.

Yet national government is doing nothing about it.

[eri]

growing pains

what'ya gonna do

bind feet?