Auckland Housing Affordability

[andyp2010]

How many people do you house who don't pass your tenant screening processes? The ones with multi arrears / property damage, criminal convictions, no jobs etc etc?

Thats a fair point

[Maccachic]

Thats a fair point

They need to live somewhere but who wants them esp if they have been evicted from HNZ. I guess one place would be provided by Her Majesty.

[Damap]

In many countries if people are that irresponsible they are left to fend for themselves on the streets. Not something we really want to see here.

[donna]

Auckland’s rampant house price inflation is due to a historical net supply problem says Matthew Gilligan of Gilligan Rowe & Associates.

Read more

cheers,

Donna

[speights boy]

Auckland’s rampant house price inflation is due to a historical net supply problem says Matthew Gilligan of Gilligan Rowe & Associates.

And this chap says it's demand from investors.

David Hargreaves looks at the RBNZ's challenge of taming the Auckland housing market - and wonders why it is being left to do the job

Why leave it to the central bank?

But the thing that is really sticking out to me at the moment is that the problem of the overheating Auckland housing market is being left to our central bank, rather than the Government.
............
There is still the demand issue.
RBNZ figures show that around 30% of new mortgage finance is going to property investors.
So, very crudely extrapolating, perhaps around one in every three houses are being bought by investors.

That statistic has nothing to do with supply.

What that is about is the blanket acceptance in New Zealand that housing is the best form of investment.
For some people the only one.
The concern is of course that as a nation we end up with all our proverbial eggs in the one proverbial basket.

http://www.interest.co.nz/opinion/74006/david-hargreaves-looks-rbnzs-challenge-taming-auckland-housing-market-and-wonders-why-

[Bob Kane]

And this chap says it's demand from investors.

He's usually wrong and these days he even admits it.

[speights boy]

Biggest house prefabricator in hands of receivers

New Zealand's largest off-site residential manufacturer, working in Auckland's Special Housing Areas, is in receivership and almost half the staff have been let go.

eHome NZ, with a large factory in Kumeu's Access Rd and capable of putting up a house in only eight hours, is now in the hands of McDonald Vague receivers Tony Maginness and Peri Finnigan.

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11401080

[chrisgoh]

Auckland’s rampant house price inflation is due to a historical net supply problem says Matthew Gilligan of Gilligan Rowe & Associates.

Thanks for sharing Donna, well written article by Gilligan Rowe.

Not entirely in favour of sourcing cheaper building materials in China. You get what you pay for. Having said that, some China products such as LED lights are pretty cheap and good.

[speights boy]

He's usually wrong and these days he even admits it.

Mr Wheeler appears to agree with him.

[eri]

if these were legal

they would be affordable

http://www.architecturendesign.net/40-of-the-most-impressive-tiny-houses-youve-ever-seen/

[BigDreamer]

if these were legal

they would be affordable

http://www.architecturendesign.net/4...uve-ever-seen/

Fancy studios

[Bob Kane]

Mr Wheeler appears to agree with him.

Which would raise a few questions about Mr Wheeler.

[speights boy]

Which would raise a few questions about Mr Wheeler.

Fortunately his opinion carries a bit more weight that yours or mine.

[speights boy]

Hopefully a new owner will take over and those owed money get a decent payout.

House builder owes $17.5m to creditors

Creditors of New Zealand's biggest off-site residential manufacturer are owed $17.5 million-plus and the business had been working towards building for Housing New Zealand.

Ms Finnigan said more than $6 million had been invested in high-tech European-built machinery, purpose-made for fast, accurate production of pre-built housing components.

eHome then trucked those pre-built components to building sites where houses could be erected within eight hours.

Those close to the business expressed anger: "They ordered all tradesmen off the site, many of whom are owed tens of thousands of dollars," said one person of eHome's work at the country's most advanced Special Housing Area at the Waimahia Inlet at Weymouth, South Auckland.
"Will these people be paid and will the project still go ahead?"

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11401801

[flyernzl]

. . . those owed money get a decent payout.

Pigs will fly, first.