Auckland property price has stable

[PTILoveYou]

Barfoot admit their july volume or activity has been highest in 15 years, so what slow down?

i think we are beginning to see a buying frenzy getting frenzier!

[HouseWorks]

Three Kings bungalow (section not subdividable) today sold for 1.78m @ barfoot auction - what slowdown? Imo lower interest rates will support the auckland market.

[HouseWorks]

After 1st October will sellers of residential investment property within two years who make a loss be able to automatically claim the loss as a tax write off? Can anyone confirm?

[speights boy]

The draft regulations are expected to be released this month.

[investernewbie]

Agree. There is no slow down in the market, especially in Central Auckland. House price are going high now. 2 bedrooms unit in Three Kings are selling above $750k+ . This is similar price to of Epsom/Mt Eden double grammar zone 2 bedrooms unit last year. This year's minimal price for Epsom/Mt Eden double grammar zone 2 bedrooms unit are going at $850K to $900k+

[JABlog]

I believe it will stop when it is no longer sustainable i.e. there will reach a point where you can no longer afford to pay with low wage growth.

Foreigners would have replaced locals in the above scenario however come Oct 1st , this will slow down as well.

But for them there is always other ways to beat the rules I am sure.

[Skeptic]

What has happened to prices in West Auckland? I bought a 3 bed house in Massey for $475000 at the end of September last year. I've moved overseas so haven't really kept an eye on prices particularly closely, but similar size houses in the same street now seem to be selling for $650000+.

Surely we are at peak now?

[PTILoveYou]

Surely we are at peak now?

Nope, demand is still sky high.

[Bluekiwi]

I don't see any more measures I think they will realise it is impossible and the dairy industry collapse is becoming too much of an issue now, their focus will shift I reckon to that.

Garnish Banana said the same thing.

Bigger fish to fry right now for PM and RB Governer, and their concerted (and co-ordinated) attack will take a back seat.

The tripple hit on speculators / investors / chinese (bright line / 70% / IRD and bank ac details) on 1/10 is more than enough for the market to digest.

[klauster]

To see in this forum as price barometer people take the CV.
Why would councils stop pushing up the CV, higher rates have to be paid regardless who the buyer is, right?

[Skeptic]

Nope, demand is still sky high.

Um demand is sky-high at the peak, that is one of the signs. You only really know these things after the fact.

[PTILoveYou]

Um demand is sky-high at the peak, that is one of the signs. You only really know these things after the fact.

Demand has been high for the past 5 years.

My mums neighbour just sold his home for 851k in blockhouse bay, crazy price!

[klauster]

just sold his home for 851k in blockhouse bay, crazy price!

Is a good price, but crazy people to buy it.

[PTILoveYou]

Is a good price, but crazy people to buy it.

The market is full of GREEDY people lol

[klauster]

GREEDY people or human nature

The market is full of GREEDY people lol

I would not go along with that because “market price” is a direct response to an economic situation.
If you want to have a “regulated market” you would need to regulate costs/prices as well - that the communists already tried to do. Unfortunately, that wasn’t successful either!

Gary, you would be the first person, I know, paying rates on a 600K CV property and sell it for 500k.