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Why House Prices Will Continue Going Up

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  • Perry
    replied
    House prices rise in all regions, and mostly at a quicker pace, Questionable Value finds
    11 Oct 2021

    Originally posted by STUFFed
    House prices are continuing to climb, with the average price paid for a home nationwide reaching $977,456 in the three months to the end of September, according to Quotable Value. That is up 3.6 per cent on the average price the previously quarter.
    Well, I never. Oh, hang on. Grant RobuSom said it was all going to implode next year. Yeah, right.

    Leave a comment:


  • donna
    replied
    Originally posted by Sanya View Post
    More bad news for the Government. The grand idea that first home buyers might use "The First Home Grant" to help purchase new builds is now looking increasingly improbable because building price escalations, in particular the skyrocketing cost of materials, will likely mean breaching maximum house price caps. Breaching caps means loss of the HomeStart grant.

    Accordingly, headlines now read that new builds are "absolutely not recommended" for first-home buyers.

    https://www.stuff.co.nz/life-style/h...rsthome-buyers
    Probably won’t be able to use KiwiSaver either - there’s a cap on the house price to use it and it really is out of touch with current prices.

    cheers
    Donna

    Leave a comment:


  • PC
    replied
    It's those nasty "speculators' again.
    More taxes, bans and red tape - that'll fix it.

    Leave a comment:


  • Perry
    replied
    Comrade commissar Cindy's socio-commie gummint does not like bad news. Not at all.

    Anything remotely like it will always be portrayed as someone else's fault for not being a suitably compliant collaborateur.

    Leave a comment:


  • Sanya
    replied
    More bad news for the Government. The grand idea that first home buyers might use "The First Home Grant" to help purchase new builds is now looking increasingly improbable because building price escalations, in particular the skyrocketing cost of materials, will likely mean breaching maximum house price caps. Breaching caps means loss of the HomeStart grant.

    Accordingly, headlines now read that new builds are "absolutely not recommended" for first-home buyers.

    https://www.stuff.co.nz/life-style/h...rsthome-buyers

    Leave a comment:


  • Perry
    replied
    Some bad news for the W'gton comrade commissariat with a hint of a prediction thrown in.

    Rents rocket to all-time high, record biggest annual increase with warning for after lockdown
    26/08/2021

    Market unlikely to return to high level of price growth after lockdown
    08/09/2021

    Doesn't matter how many times it happens or how many times they're reminded that they'll always get it wrong, the consequences of their socio-commie stupidity keep falling down all around them. "Quick, add more and more laws and regulations - that'll fix it!"
    Last edited by Perry; 08-09-2021, 08:47 PM.

    Leave a comment:


  • Perry
    replied
    House prices, Prime Minister Jacinda Ardern said, cannot keep increasing at the rate they are.
    I wonder if she'll ever have the necessary moral fibre to admit reality in some way?

    A bit like paraphrasing Grant RobUsome and his famous fudge line about being 'overly specific' (code-speak for lying), comrade commissar Cindy could say that she was 'underly specific' in that her statement didn't exclude the house price rate of increase getting greater?

    Leave a comment:


  • Perry
    replied
    And - as anyone with half a brain knows* - if new build costs increase, so does the price of the existing stock. And vica-versa.

    * Socio-commie W'gton woodenheads excluded.

    Leave a comment:


  • Sanya
    replied
    House prices reflect in part building and material costs. Lots of new builds happening at the moment (which is good) but many are being re-priced upwards to reflect increased costs. What are those increased costs? According to one recent article:

    Shortages of materials and skyrocketing costs, particularly in the last few months, meant the price of building or renovating homes would continue to increase. Local builders reported that brickwork costs had gone up 20 per cent in two months, cedar cladding rose 50 per cent in three months, steel was up 60 per cent in eight months, and everything that was imported was costing more.
    Source: https://www.stuff.co.nz/business/pro...ing-costs-soar

    Leave a comment:


  • PC
    replied
    Ha! Just wait till Labour and the Greens get re-elected for yet another 3 years of more failure.

    Leave a comment:


  • Perry
    replied
    Trade Me Property: 'This huge price growth simply cannot continue forever'
    23 Jul 2021

    Originally posted by STUFFed
    Wellington house prices have jumped by nearly one quarter in the year ending June, the largest increase on record, data from Trade Me Property Price Index shows.

    “June marks the fourth consecutive month, where we’ve seen property price growth of 20 per cent or more in Wellington. The fact is, the Wellington property market is now running hotter than any other market we’ve seen before, including Auckland,” said Trade Me Property sales director Gavin Lloyd.
    Notice the amazingly erudite prediction in the headline.

    Leave a comment:


  • PC
    replied
    People have got it all wrong. House prices aren't going up.
    The worth of our dollar is going down.

    US creates $Trillions out of thin air and the price of real assets moves.
    The US Fed has DOUBLED it's balance sheet in the last 12 months.
    2% Government inflation number is complete BS.

    Leave a comment:


  • McDuck
    replied


    There's no problem with slowly inflating house prices.
    So he's probably right, over the long term.

    You just need to make sure that the house price inflation rate is less than the increase in wages and (other affordability factors).
    At the moment they're way out of sync.

    Most people realize that the increases in their house value is no use to them at all.
    They just have to pay higher insurance and council rates.

    People with children or grand children are going to want to see these house values correct.
    They know that they themselves will soon be dead, and their thoughts will turn to the future generations.
    Last edited by McDuck; 17-03-2021, 12:09 PM.

    Leave a comment:


  • donna
    started a topic Why House Prices Will Continue Going Up

    Why House Prices Will Continue Going Up

    Motu Research senior fellow Arthur Grimes​, who was previously chief economist and chair of the Reserve Bank, says neither major political party is willing to contain house prices as the majority of voters benefit from it.
    A great read on Stuff. Was Jacinda's 'house prices can't keep skyrocketing' comment was quintessential Arden - i.e. caring, empathetic, voicing concern but not actually doing anything about it. But she's not alone - no party wants to be seen to tackle it - so it's left to the RBNZ to do something about it.

    cheers,

    Donna
    House price rises were unsustainable, the PM said. One graph shows the frenzy that followed.
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