Auckland property price has stable

[PTILoveYou]

I would not go along with that because “market price” is a direct response to an economic situation.
If you want to have a “regulated market” you would need to regulate costs/prices as well - that the communists already tried to do. Unfortunately, that wasn’t successful either!

Gary, you would be the first person, I know, paying rates on a 600K CV property and sell it for 500k.

Yeah the current cv for that property is above the sale price few years ago.

[Gladdynook]

After 1st October will sellers of residential investment property within two years who make a loss be able to automatically claim the loss as a tax write off? Can anyone confirm?

as it currently stands, this "loss" can only be used to offset future gains. So you sell house A at a loss of $100K, then you sell house B that is also taxable and make a $100K profit. there is therefore no tax to pay on the gain as you have credits. However if you never sell another house that falls within the "taxable activity" rules, then IRD takes the win! this is one area they have thought through and stacked the cards in their favour.

[ivanp]

This year's minimal price for Epsom/Mt Eden double grammar zone 2 bedrooms unit are going at $850K to $900k+

8/1 Epsom Avenue was sold last week for $750K
it is in DGZ and and it's 3-bedroom (or 2.5)

[Wayne]

To see in this forum as price barometer people take the CV.
Why would councils stop pushing up the CV, higher rates have to be paid regardless who the buyer is, right?

A higher CV doesn't mean higher rates - unless your property has moved a greater % than a neighbour.
The rates pie is divided by the values.

[HouseWorks]

However if you never sell another house that falls within the "taxable activity" rules, then IRD takes the win! this is one area they have thought through and stacked the cards in their favour.

makes sense doesn't it. Thanks for the info.

[investernewbie]

8/1 Epsom Avenue was sold last week for $750K
it is in DGZ and and it's 3-bedroom (or 2.5)

Have you seen the listing yourself?

It's a double storey unit. You either own top or bottom. It always sell for less for that kind of unit anyway. I would think paying $750k for that kind of unit is over the price! What i am talking about is single level unit with no unit above. See examples below:

5/ 13 Cornwall Park Avenue March 2015 SOLD for $881K http://www.barfoot.co.nz/539333
1/ 17A Selwyn Road May 2015 $845k http://www.barfoot.co.nz/542986
3/ 6 King George Avenue June/July 2015 SOLD for $930k http://www.barfoot.co.nz/546013

[investernewbie]

This is getting crazy. Top level Mount Eden unit (south end) sold for $736,000 . 10/ 736 Mt Eden Road http://www.barfoot.co.nz/546027 . My mate bought one of the unit in this complex back in 2005 for $150k. Now it's 5x it's orginal price.