Buyers in for house bargains

[halfempty]

House hunters could be in line to snap up bargains, with an end tipped to a property market that currently favours sellers.

Realestate.co.nz chief executive Alastair Helm said prospective buyers could soon have more options in the market, with new data showing the protracted housing shortage was at the end of its cycle.
He said that meant the market would turn from favouring sellers to buyers, but he warned while that was good news for those looking to get into homes, the downside was sellers could expect an end to the abnormally high prices now being realised in many areas.
Realestate.co.nz has tracked property sales against new listings for the past five years. The latest data, Helm said, had revealed a notable market cycle for the first time.
Helm said the results showed the supply of new listings followed demand by about six months, and the figures suggested there would be a clear trend to more properties being listed, and a consequent rise in sales this year.

Source

Is it just me or does this sound like load of rubbish?

With historically low interest rates and building consents where are all these properties going to come from to be listed?

[donna]

A load of rubbish - I like Tony saying....

He did not think an increase in the number of sellers would depress prices much, because the driving force was how many came forward, and that remained uncertain.

and it was just a week or so ago there was news of a property shortage -

Cheers,

Donna

....halfempty you need to shorten your excerpt and add the source link - I have done it for you this time

[spaceman]

LOLZ.... I read that article and thought what a lot of old tot too.....

Cheers
Spaceman

[eri]

maybe they have an octopus

that predicts the housing cycles

it seems to be an attempt to "condition" sellers into dropping prices

so agencies can sell more to all the people waiting for something just a bit more affordable

that's going to be hard when they also run a story of someone selling a house for $880k

which gets on-sold in days for 1.3million

[cube]

maybe they have an octopus

that predicts the housing cycles

it seems to be an attempt to "condition" sellers into dropping prices

so agencies can sell more to all the people waiting for something just a bit more affordable

that's going to be hard when they also run a story of someone selling a house for $880k

which gets on-sold in days for 1.3million

An octopus is so much better than a monkey throwing darts at the wall for predicting the future - it can throw 8 darts at once so you eight options to choose from.

[spaceman]

^ yeah but you still need the monkey to whittle it down from 8

Cheers
Spaceman

[halfempty]

And in the next breath....

The Department of Building and Housing forecast this month that New Zealand needs to build 20,000 to 23,000 housing units a year over the next five years to keep pace with population growth.

We have been building at a rate below 15,000 a year for the past three years.

Source

[eri]

that's where the journalists

and editor come in

[One]

I reckon they're trying to make a self-fulfilling prophecy. Condition sellers down and get buyers all interested. Be interesting to see what they say over the next few months.

[Bob Kane]

...the abnormally high prices now being realised in many areas.

I think Alastair is revealing his secret political leanings - a Labour/Bernard Hickey fan.

[muppet]

Then we have Bernard in print this morning.

Bernard Hickey: Govt eyes blind to housing crisis

By Bernard Hickey
5:30 AM Sunday Feb 19, 2012
Auckland needs at least 10,000 new homes each year. Photo / Chris Skelton

New Zealand faces two crises, and one opportunity that the Government seems either ignorant of or unwilling to address.
The first crisis is of housing supply in two regions. Auckland and Christchurch now have huge shortages of waterproof and undamaged homes that regular families can afford to own.
The problem is set to get much worse in the years to come, given the lack of building happening and the population increase projected.
The Department of Building and Housing forecast this month that New Zealand needs to build 20,000 to 23,000 housing units a year over the next five years to keep pace with population growth.
We have been building at a rate below 15,000 a year for the past three years.
It could be argued that this also ignores the destruction or degradation of large swathes of housing stock in Auckland and Christchurch because of the leaky-building disaster and the earthquakes of 2011.
Auckland needs at least 10,000 new homes each year, yet less than half of these are being built. The crisis has intensified since 1999, with the introduction of the Metropolitan Urban Limit and the revelation that an entire generation of homes is leaky. Yet the lack of debate within New Zealand's political leadership is astonishing.

http://www.nzherald.co.nz/business/n...ectid=10786436

[eri]

i think he was just trying to get published

and have his story generate website hits

the headline

Buyers in for house bargains

was guaranteed to pull in many, many readers

but was completely unsubstantiated in the story

result

stuff = sun

not news

sensationalism

[Bob Kane]

Bernard Hickey: Govt eyes blind to housing crisis

This made me laugh.
Bernard was predicting a 30% drop in house prices and now he's finally worked out we have a housing shortage.
How can a guy be so spectacularly wrong and still claim to have all the answers?

[One]

Hickey's got something of a point this time.

[eri]

he can always see the problems

most people can

it's the simplistic solutions he demands

that don't add up

just read the wildly conflicting agreements in the comments below his stories