Housing Crisis What Housing Crisis?

[eri]

gov.

forcing councils to reduce development contributions

and now going after the big housing material suppliers

shows they're serious about the root causes of housing affordability

Fletcher Building said the "price-fixing" activity involved some people at PlaceMakers in Cook St and Mt Wellington.

http://www.nzherald.co.nz/business/n...ectid=11176098

[Perry]

Housing Affordability Getting Worse
Laura Walters
20/01/2014

Housing is unaffordable in all eight of New Zealand's major markets,
an international survey shows. High median house prices have been
upwardly skewed by recently imposed mortgage lending restrictions and
low mortgage interest rates, an economist says. The 10th annual
Demographia International Housing Affordability Survey classified
Auckland, Christchurch, Tauranga-Western Bay of Plenty, Wellington
and Dunedin as "severely unaffordable".

Palmerston North, Napier-Hastings and Hamilton-Waikato were "seriously
unaffordable", the survey said. The survey uses a median multiple to
determine the affordability rating of houses in 360 metropolitan
markets in nine countries. The median multiple is calculated by
dividing a region's median house price by the median income. Regions
with house prices more than three times the median regional income are
deemed unaffordable.

---

Related threads:
Housing crisis or bureaucracy crisis?

Housing affordability improves

Interest Rates

[Perry]

House Asking Prices At Record High

A sellers' market for residential property helped to push the average
asking price for New Zealand homes to an all-time record high in
February, according to the latest monthly NZ Property Report. The
report, compiled by real estate industry website realestate.co.nz,
said the average national asking price for homes was $483,099, a 9 per
cent rise on the same month last year. The average asking price in
Auckland was a record $677,370, an increase of 12 per cent since
February last year.

However, asking prices are rarely disclosed to prospective buyers
meaning the survey relies on accurate submissions. Paul McKenzie, of
realestate.co.nz, said the new high was part of a continuing growth
pattern. "While the asking price did reach a new high, a 9 per cent
increase from the same time last year, it is only a 1 per cent
increase on last month," McKenzie said. "Asking prices are trending
upwards and look set to remain high into the spring season."

[cube]

While the asking price did reach a new high, a 9 per cent
increase from the same time last year, it is only a 1 per cent
increase on last month,

shouldn't that be

While the asking price did reach a new high, only a 9 per cent
increase from the same time last year, it is a massive a 1 per cent
increase on last month,

1 per cent per month is 12.6 per year.

[speights boy]

Factory-built homes on way

Two of Christchurch's large building companies have joined forces to produce factory-built homes in big numbers, branding it "a game changer for New Zealand housing market".

Mike Greer Homes and Spanbild announced yesterday their $14 million venture and said the factory in Christchurch will be complete and operating from December. They said the venture would be New Zealand's first big panelised building factory and able to build 1000 homes a year.

[Davo36]

Good idea but 1000 per year doesn't sound that much... I guess it's 20 per week... so not bad.

I wonder if they will do this in Auckland too?

[Perry]

NZ House Prices Among World's Highest
02/09/2014

New Zealand's house prices are among the most overvalued in the world,
a new report by The Economist says. The magazine looked at house
prices in various countries around the globe and compared them to
rents and incomes in those countries.

It assessed the price-to-rent and price-to-income ratios against their
long-term averages to work out whether they were overvalued. New
Zealand houses were expensive by both measures, it found.

[Davo36]

The Economist has been writing the same article for the last 7-8 years.

[Perry]

Good for consistency are they, then?
Mind you, if true, what difference does
annual repetition make?

[spaceman]

NZ House Prices Among World's Highest
.......It assessed the price-to-rent and price-to-income ratios....

If the original "Bad news" headline is correct, then surely my "good news" headline is as well.

NZ Rents Among Worlds Cheapest



Cheers
Spaceman

[speights boy]

Good to see.
Hopefully some good quality apartments suited to owner occupiers in this development.

Alexandra Park development on its way

Auckland Trotting Club members have approved a $205.4 million property deal at Alexandra Park which will secure the future of harness racing in Auckland.

Members voted at a special general meeting to approve the development of a mall and 231 apartments on a carpark adjacent to ASB Showgrounds, Dominique Dowding, Alexandra Park chief executive, said.

Indicative apartment prices will range from about $550,000 through to $2.8m for a penthouse in the 223 Green Lane West development.

"We're lucky because Alexandra Park is seen as pretty iconic real estate. It's a very central location that's just waiting to be drastically improved."

www.3news.co.nz/business/alexandra-park-development-on-its-way-2014112815

[eri]

3 words

double grammar zone

[elguapo]

3 words

double grammar zone

For how much longer though?

[artemis]

Boarding houses getting a bad rap in the media today. Not much said about why people are living at this particular place, though as some have been there 15 years it clearly is OK for some people. Rooms are cheap - $170 to $210 which will include power and access to facilities. About the same as a room in a flat, which won't include power. One mother of 2 can't get her children to school because they move around a lot - 3 lodges this year. No reason given but one can join a few dots. Not getting the children to school is neglect, close to abuse.

Be nice to see a bit more background, but let's not allow facts to get in the way ....


Boarding houses: 'The worst place to stay' ... "This seems like the worst place on Earth". (The journalist, Josh Fagan, clearly doesn't get out much.)

http://www.stuff.co.nz/national/63668769/Boarding-houses-The-worst-place-to-stay

[speights boy]

Another article.

Houses of scandal and shame

This $210-a-week shoebox breaks no rules. There are none to break. The minister responsible for boarding houses himself admits some of them "are unfit to house your dog".

Yet the law around them is so inadequate that there is no legal definition of one.
There is no official register of boarding houses, or even an official tally of their numbers (it is estimated there are about 500).
There is no formal inspection regime: they actually have less regulations to meet than in the 1970s.
There are no national minimum standards.
Tenants have a fraction of the rights of regular renters.
Just about the only thing the law demands of these establishments is a fire safety plan and drinkable water.

www.stuff.co.nz/national/63683828/Boarding-houses-of-scandal-and-shame