Originally posted by Perry
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House prices up nearly 20 percent
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Originally posted by Perry View PostJees, it's simple supply and demand! Something the socialist comrades can't comprehend.
SUPPLY and DEMAND.
The mantra of fashion.
But ... do you mean...
The supply of IMMIGRANTS to give EMPLOYERS cheap labor? Skip out on training costs?
The demand for CEO's to look good in front of their foreign bosses, by showing them the increased profits, form outsourcing local work (via the net)?
The demand for a bit of space, as people in overcrowded countries like India (ect) flee here, enabled by all that outsourcing money (ha).
The demand from INVESTORS to put their MONEY in a reliable place?
The demand for an income stream for Bank Owners?
The demand for growing profit figures from BANK UPPER MANAGEMENT?
The demand from America, to stabilize the PACIFIC after that PEARL HARBOUR incident taught them better.
The demand from China to GROW, and the huge amounts of cash pumped in, to do that?
The demand for people in China to put that money SOMEWHERE out of the GOVTS reach?
The demand from people fleeing the GRIP of CHINA as it takes back an ISLAND?
The demand from people fleeing the collapse of SOUTH AFRICA, For a place where civilization isn't crumbling?
The demand for a place where you can walk around without the restrictions of VIRUS LOCKDOWN?
The demand for a place to run international businesses, where you can operate remotely, and not fear death from the virus?
The demand for a BOX to sleep in, keep off the RAIN and WIND?
The demand for a BOX to nest in, bring up CHILDREN?
So many DEMANDS for 4wall, 1roof and a square of New Zealand dirt to SUPPLY.
What exact one were you meaning?Last edited by McDuck; 26-11-2020, 06:34 AM.
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More rumblings from the incapable and ineffective . . .
26 Nov 2020
Originally posted by StuffReserve Bank Governor Adrian Orr has responded vigorously to Finance Minister Grant Robertson's plea that he pay mind to rocketing house prices, saying he's likely to give open and frank advice on tax changes the Government could use to cool the housing affordability crisis. Minister Robertson told RNZ yesterday that Treasury was looking at measures to relieve demand on the housing market, this could include an extension of the bright line test, essentially a limited form of capital gains tax.
“There is plenty of policy space outside of the things we have ruled out in terms of what we can do around affordable housing,” Robertson said. Whatever advice is offered to the Government won’t be far away. Robertson’s letter says he’s keen to get solutions soon and wanted Orr to give his letter the “earliest possible consideration”.
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Originally posted by mrsaneperson View PostIf the government wanted to bring prices down its pretty simple, free up more land zoned as rural for development . At the moment we are all being hedged in like sardines in a tin and its going to get much worse. In my street they are buying perfectly good houses for 1.3M and bowling them over to replace with 4 new ones each selling for 1.2M - all 4 on a 600 sq metre section, that is each one sits on a 150 sq metres.
The coming result is plain to see , overcrowding.
You can ram people in but for their wellbeing, they need to be able to have access to large parks, outdoor spaces etc.
NZ already has a problem with domestic violence.
cheers,
DonnaLast edited by donna; 26-11-2020, 10:15 PM.Email Sign Up - New Discussions, Monthly Newsletter, About PropertyTalk
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People think it was National voters trying to keep the Greens out that got Labour such an election victory.
But with 20% gains I recon it was all the property investors voting for them! ;-)The three most harmful addictions are heroin, carbohydrates and a monthly salary - Fred Wilson.
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They're at it, again.
Reserve Bank raises spectre of wave of 'managed sales' of homes in March
27 Nov 2020
Originally posted by StuffThe Reserve Bank has raised the spectre of a wave of “managed sales” of homes early next year, belonging to borrowers who can no longer afford their repayments. In total, 1.5 per cent of home loan lending at the start of November was to borrowers not able to make any repayments on their loans, the Reserve Bank said in its November Financial Stability Report.
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Originally posted by mrsaneperson View PostIf the government wanted to bring prices down its pretty simple, free up more land zoned as rural for development . At the moment we are all being hedged in like sardines in a tin and its going to get much worse. In my street they are buying perfectly good houses for 1.3M and bowling them over to replace with 4 new ones each selling for 1.2M - all 4 on a 600 sq metre section, that is each one sits on a 150 sq metres.
The coming result is plain to see , overcrowding .
Plus they should stop immigration. The population of NZ isn't growing because Kiwis are breeding like rabbits - it's growing with immigration. Stop immigration and you stop the problem of there not being enough houses to go around. And actually this is what they have done by closing the borders... so how will this play out?
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So ANZ is now lending 60% of the sales price to investors while across the ditch - no such nonsense is happening. Will Kiwi investors believe the grass is greener across the ditch?
There is stamp duty on purchase and CGT on sale but for yield maybe it's a good place to invest?
cheers,
Donna
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Originally posted by donna View PostSo ANZ is now lending 60% of the sales price to investors while across the ditch - no such nonsense is happening. Will Kiwi investors believe the grass is greener across the ditch?
There is stamp duty on purchase and CGT on sale but for yield maybe it's a good place to invest?
cheers,
Donna
We don't want any more regulation from the government like debt to income ratios or some ridiculous laws the government could introduce, like restricting how many properties you could buy or rent controls.
I don't know about you guys but the less compitition for good tenants the better..also none of us want thousands of New landlords dumping there rentals next year because they didn't really know what they were doing.
House prices will still rise as interest rates are forecast lower with the new funding for lending program.
Christchurch will benefit from higher LVRs because properties are still cheap as chips there compared to other regions.
I have just under 2 million invested in the share market and its nothing for my shares to drop 20% in a month, I personally wouldn't want to experience that in our housing market no matter how small the chances.
We have all had a good year in price rises ,let's have another 12 months of it 2021.
I'll be buying in 2021 ,there will be just less of you guys to deal with.
Last edited by Jeffa; 15-12-2020, 04:12 PM.
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Originally posted by Jeffa View Post
[...]
We don't want any more regulation from the government like debt to income ratios or some ridiculous laws the government could introduce, like restricting how many properties you could buy or rent controls.
The Labour Government has to be seen to be doing something about house prices.
I therefore expect to see DTI ratios being introduced in 2021. Reserve bank will also require 30% deposit from property investors in 2021 though may be pressured to increase that further to 40% as ANZ bank (NZ's largest lender) has jumped the gun and decided effective immediately, investors will need equity of 40 per cent when borrowing to buy residential property. There are no changes to deposit requirements for other residential buyers, including first home owners.
It appears that 1/3rd of ANZ lending in the past couple of months was to residential property investors.
In keeping with your positive tone, the above is not necessarily bad news to PI's.
For example, according to TM data, across all of NZ, there has been a 18% increase in rental property listings over the past three (3) months. More supply means more competition in some markets. IF the Government in concert with RBNZ and private banks tighten the lending taps is that bad news for existing investors?
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It seems political, the government leant on the reserve bank to do something and Adrian Orr told them were to go. .so there next choice was the countries biggest bank ANZ knowing other banks will follow, I still prefer a 40% deposit than what ever draconian law's or tax law's they may have introduced to slow down hpi.
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Originally posted by Jeffa View PostSome how this seems all familiar...
Prices rocket in city housing boom
...The Bank of New Zealand also reported this week that Auckland house prices are 11.9 per cent higher than a year ago, taking the cost of the average home from $260,000 to $290,000.
Saturday, November 23rd 2002
Figures from the Real Estate Institute show the surge is greatest in Auckland City, where the average house now changes hands for $335,000.
Motorway fright has led to runaway demand for inner-city suburbs.
Prices are rising at the rate of nearly $500 a day, says real estate company Barfoot and Thompson.
But the North Shore is showing signs of cooling. Its median house price has dropped $2000 to $298,000 in the past month."DEBT BECOMES IRRELEVANT WITH INFLATION".
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