Surely we have peaked

[wilditr]

Cripes one weekend of open homes 713k.
Yield and capital gains seem near on impossible.

http://www.trademe.co.nz/1108854974

[Anthonyacat]

Cripes one weekend of open homes 713k.
Yield and capital gains seem near on impossible.

http://www.trademe.co.nz/1108854974

I thought prices were unreasonable in late 2013. Initially predicted the peak soon after that. We'll only know where the peak was once it stops going up.

[BigDreamer]

We don't monitor West Auckland market but $713k is rather high for what we would expect Henderson to sell for >_<

[Atheum]

My auction experience last 4 weeks

3 bedroom cross lease hardiplank in New Lynn unconsented dining room and 3rd bedroom sold 750k

2 bedroom weatherboard bungalow new Lynn. Nice Reno cross lease
910k

3 bedroom blockhouse bay 650m2 freehold absolute dive, holes In every wall and door, rotten floors, rotten roof, rotten carport you name it
760k


Balmoral 3 bedroom painted brick, 500 odd freehold needs minor Reno
1.5m


2 bedroom middle block of 3. Busy main rd New Lynn, needs major work, no outside area.
500k


But I keep going back.

[Bob Kane]

Next year you'll read these prices and weep.

[Beano]

Next year you'll read these prices and weep.

Yes after you paid those prices and they have fallen ��

[donthatetheplayer]

2 bedroom weatherboard bungalow new Lynn. Nice Reno cross lease
910k

What was the address Atheum? That's a high price, even for New Lynn.

[Atheum]

Sorry don't remember the address. It was just being auctioned on the same day I was bidding on another property. Very nice little house, weatherboard, good reno done. 2 very emotional females bidding against each other, so it just kept going up. Must have been a dream home type buy. Buyers looking for homes are bidding way over value from what I have seen lately.

[donthatetheplayer]

Buyers looking for homes are bidding way over value from what I have seen lately.

What is "value"? A developer told me yesterday they expected prices to go up 15% in the next year. That would make today's prices cheap. Someone else told me the market is going to go down and now is the peak. I see a 2-3 year time frame to any real down turn. In the mean time I expect conditions will stop prices from falling. All the issues that have been around for many years in Auckland have not been fixed yet.

Who bloody knows though!

[Frezzinghot]

Watch out for what happens to Britain in the next few months, could affect us quite a lot!

FH

[BigDreamer]

2 bedroom weatherboard bungalow new Lynn. Nice Reno cross lease
910k

Seriously?

Was this a standalone 2 bedroom house in a cross lease? Still, I find that far too high for a 2 bedroom in New Lynn.

[Frezzinghot]

Housing market is crazy, not a time for B&H IMHO.

FH

[BigDreamer]

What does B&H stands for?

[Frezzinghot]

Buy & Hold.

FH

[Bobsyouruncle]

There's still deals Freezing you just have to be patient.