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Purchasing in Wellington post Earthquake

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  • Purchasing in Wellington post Earthquake

    Was already looking at the market in Wellington, now my bank is saying make sure insurance will cover the property and they require a builders report.
    Chose that area for investment for personal reasons as well. How will it affect prices?

  • #2
    I'm being told by my insurance advisors that companies are not issuing new insurance on any property in Wellington at the moment... Which is why the bank is asking you to ensure you can secure insurance. My advisors are telling me that subject to no new events they expect to be in a position to start insuring in Wellington in a week or so.

    As as far as prices... If there is anyone in desperate need to sell they may take a hit on price but from what I'm seeing the majority of activity in the market at the moment is home buyers so I expect they will return once they clean up from either the shake or the drenching or in some cases both.

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    • #3
      It will cripple sales volumes till it's sorted out. May have no affect on prices because there will be virtually no sales.......

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      • #4
        Wellingtonians moving to Auckland in mass?

        Anyways, what's shocking to me is, those 'newly' built government buildings in the past 20 years are not performing...seismically.

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        • #5
          Originally posted by Gary Lin View Post
          Wellingtonians moving to Auckland in mass?

          Anyways, what's shocking to me is, those 'newly' built government buildings in the past 20 years are not performing...seismically.
          you're dreaming -but when you buy into your own hype I guess this is the natural conclusion.

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          • #6
            Originally posted by Bobsyouruncle View Post
            It will cripple sales volumes till it's sorted out. May have no affect on prices because there will be virtually no sales.......
            You're right... Not much will sell until properties can be insured... Will be interesting to see what happens at today's auctions.

            those mythical Chinese cash buyers could have a field day though if they're not restricted to LVR and now insurance requirements

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            • #7
              Originally posted by Don't believe the Hype View Post
              you're dreaming -but when you buy into your own hype I guess this is the natural conclusion.
              Have you ran out of rational thinking, and resorting to personal attacks just like Grahame Fowler?

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              • #8
                It's quite likely he is GF Gary :-).

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                • #9
                  Wouldn't touch the place with a barge pole ....

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                  • #10
                    Originally posted by Gary Lin View Post
                    Wellingtonians moving to Auckland in mass?

                    Anyways, what's shocking to me is, those 'newly' built government buildings in the past 20 years are not performing...seismically.
                    LOL. Sure, Wellingtonians are going to leave their higher paying jobs to move to aucklands lower paying jobs and twice as expensive housing and horrific traffic issues.

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                    • #11
                      Originally posted by Gary Lin View Post
                      Have you ran out of rational thinking, and resorting to personal attacks just like Grahame Fowler?
                      personal attacks? Not sure an opinion that you're buying into your own beliefs that Auckland is the solution to everyone's problems and that Auckland will only ever go up is a personal attack.

                      It could be that I touched a nerve here? Might even be right!

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                      • #12
                        Originally posted by Don't believe the Hype View Post
                        personal attacks? Not sure an opinion that you're buying into your own beliefs that Auckland is the solution to everyone's problems and that Auckland will only ever go up is a personal attack.

                        It could be that I touched a nerve here? Might even be right!
                        Did you not get my sarcasm on my first sentence about people moving to auckland?

                        Perhaps your negativity towards me has blinded you?

                        Bye Grahame.

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                        • #13
                          Originally posted by Gary Lin View Post
                          Did you not get my sarcasm on my first sentence about people moving to auckland?

                          Perhaps your negativity towards me has blinded you?

                          Bye Grahame.
                          sorry missed the sarcasm... It's hard to tell sarcasm in the written form...


                          what is your issue with Graeme anyways Gary or do you have an issue with anyone who disagrees with you?

                          Or are you just looking for support from anyone you can run to like your uncle bob?

                          This is is not the school yard...

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                          • #14
                            Originally posted by Don't believe the Hype View Post
                            sorry missed the sarcasm... It's hard to tell sarcasm in the written form...


                            what is your issue with Graeme anyways Gary or do you have an issue with anyone who disagrees with you?

                            Or are you just looking for support from anyone you can run to like your uncle bob?

                            This is is not the school yard...
                            Lots of people agree and disagree with me on this forum, and other forums, I'm used to it. Oh and on Facebook too since I have been on NZHerald 4 times this year.

                            GF just happens to be one of the biggest anti-auckland anti-capital gains naysayer that's all.

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                            • #15
                              Back to the topic, my insurance broker is Chris Lane, [email protected] firstlane.co.nz ask him who is insuring right now
                              Last edited by donna; 17-11-2016, 02:15 PM.
                              Free online Property Investment Course from iFindProperty, a residential investment property agency.

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