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Jumping on the merry-go-round

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  • Jumping on the merry-go-round

    Around and around we go with the same ideas, quick-fixes and must-dos to make owning a home affordable for all.

    Newshub article

    Bring in CGT says Westpac chief economist. Not on my watch says PM. Okay what else - land tax? No says PM.

    The Real Estate of New Zealand (REINZ) is focused on another piece of the housing puzzle - asking the Government to make changes to the Home Start Grant.

    The grant gives $5000 or $10,000 for first home buyers who are required to purchase properties below a certain price cap.

    But REINZ CEO Bindi Norwell said as house prices rapidly rise, she has concerns.

    "There are not many properties now that actually qualify, in fact only 33 percent across the country qualify," she said.
    Source

    Ashley Church says - expect house prices to double again within the next 7 years and there's nothing anyone can do about it.

    Is he wrong? Maybe - it may have much sooner. With extra low-interest rates, and other stimulus ongoings I predict values will double within 5 years!


    cheers,

    Donna




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  • #2
    All this was forcast in The Encyclopedia of Jeffa.. before the first lockdown.

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    • #3
      I am expecting my portfolio to double in at least 5 year's.My early investments in south Auckland when I purchased in 2005 trippled in value as of 2020..so yes a good purchase can double every 5 year's with patience.

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      • #4
        Originally posted by Jeffa View Post
        I am expecting my portfolio to double in at least 5 year's.My early investments in south Auckland when I purchased in 2005 trippled in value as of 2020..so yes a good purchase can double every 5 year's with patience.

        Doubt it would have tripled, more like 2.3 to 2.4 times
        Show us some numbers

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        • #5
          Originally posted by BlueSky View Post


          Doubt it would have tripled, more like 2.3 to 2.4 times
          Show us some numbers
          Clendon purchased 215k in 2005 now 700k
          Radwick park 239k in 2005 now 800k
          Manurewa east 250k now worth 850k

          I purchased these when bank's would lend 95% to anyone.
          I also started buying in the Hutt for under 100k in my favorite gang neighborhoods back then now there worth 500k to 750k..I was raised in gang neighborhoods so it was easy money for me to invest there.

          I bought multiple properties in Porirua 5 year's ago and they have over doubled in 5 year's .

          I would always hustle to get a lower price..I don't have the drive like I used to these days,my excess capital goes off shore in shares and there up 35% this year...the groups I belong to predicted this 3 or 4 years ago and outside the virus they were spot on.

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          • #6
            This might seem strange and I don't doubt that there are wealthier investor's than I reading this but..

            I come from poverty so recently I increased all my rents to the maximum then refinanced half my portfolio because I wanted to see what 1 million cash looked like in my bank account.. oddly enough I wasn't impressed.
            It just looked like fake digits on my banking app.

            The plan was to pay cash for another property but there is to much fomo out there so I just increased my share portfolio by 1 mil offshore...I really believe today's fiat currency is becoming more and more worthless by the day.

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            • #7
              Originally posted by donna View Post

              - Ashley Church says - expect house prices to double again within the next 7 years and there's nothing anyone can do about it. -

              Donna
              I did a quick search - to gauge his experience and connections.

              He's running the NZ ISRAEL INSTITUTE OF NZ at the moment.
              Was CEO of the PROPERTY INVESTORS INSTITUTE.
              He was even a failed NATIONAL PARTY CANDIDATE.
              And a long term CITY COUNCIL member.

              Does all that experience still hold true for a Post GFC, Post Pandemic world?

              Comment


              • #8
                Excessive Government and Council bureaucracy and taxes have caused the problem - but the only solution the media etc promote is more bureaucracy and taxes.
                How bizarre.
                The three most harmful addictions are heroin, carbohydrates and a monthly salary - Fred Wilson.

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                • #9
                  Originally posted by PC View Post
                  Excessive Government and Council bureaucracy and taxes have caused the problem - but the only solution the media etc promote is more bureaucracy and taxes. How bizarre.
                  Where today's sycophantic taxpayer-subsidised media are concerned - no surprise at all.

                  Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

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