The Auckland market now (xmas 2016)

[PTILoveYou]

Be a pretty good purchase for a first home buyer looking to get into the market in Auckland.

Yeah it is her first home.

[watchful]

It's a great time to buy.

St Johns unit used to be early to mid 700s few months ago, my student picked it up no reno needed for early 600k.

Really? Surely you must be advising your students that it is a terrible time to buy. Maybe good for you if you are offloading your poor performers to them but with so much uncertainty, buying an investment property in AKL is a big gamble right now.

[PTILoveYou]

Really? Surely you must be advising your students that it is a terrible time to buy. Maybe good for you if you are offloading your poor performers to them but with so much uncertainty, buying an investment property in AKL is a big gamble right now.

From supply and demand point of view, I think it's pretty certain where the market is heading.

[watchful]

From supply and demand point of view, I think it's pretty certain where the market is heading.

When capital gains slow further and foreign investment starts to see better ways to make money the demand will drop. This will impact our economy (as it has done many times before) and will reverse our net migration - back to normal levels.

Once the flow starts demand is going only one way and so will prices. I own property in Auckland and am choosing to ride through this wave again but with this uncertainty first home buyers who risk losing a lot of their equity should think very carefully about their risk tolerance. My humble opinion of course.

[PTILoveYou]

When capital gains slow further and foreign investment starts to see better ways to make money the demand will drop. This will impact our economy (as it has done many times before) and will reverse our net migration - back to normal levels.

Once the flow starts demand is going only one way and so will prices. I own property in Auckland and am choosing to ride through this wave again but with this uncertainty first home buyers who risk losing a lot of their equity should think very carefully about their risk tolerance. My humble opinion of course.

When immigrants land in Auckland, most don't buy a house straight away.

There is a lag factor so that they get used to the new environment first, then buy.

Just look at the net migration graph and see figures 2001-2003, and then look at the average sale price 2004-2007.

[mortgage broker]

I have a nett migration graph on here

http://www.mortgagesonline.co.nz/rates-up-down/

[Davo36]

Davo, don't call me bro you f..wit

You mad bro?

[big fella]

You mad bro?

have a good day Davo

[Davo36]

You too mate.

[Boom]

A lot of the overseas investors (Chinese) do not match up with the majority of our new residents (Indian).

Migration for study and new residents wont affect house prices too much, as the number bringing loads of cash is low, banks are tightening up on lending (they wont be going near low paid workers with a barge pole) - so increasing rents and overcrowding, in particular around CBD.

Maybe yields may start to pick up.

So the old supply and demand is not that simple.

[Wayne]

It's a great time to buy.

St Johns unit used to be early to mid 700s few months ago, my student picked it up no reno needed for early 600k.

I must say that some of this confuses me these days.
One minute prices can justgo up, nekminute someone bags a bargain $100k or so under value.
Or is the $600kish the new value and they paid fair price?
But that would mean prices came back a bit and that can't (and never) happens in Auckland.

[Davo36]

I must say that some of this confuses me these days.
One minute prices can justgo up, nekminute someone bags a bargain $100k or so under value.
Or is the $600kish the new value and they paid fair price?
But that would mean prices came back a bit and that can't (and never) happens in Auckland.

Wayne you really have to sign up and pay the mentoring fees to get it.

[Wayne]

Wayne you really have to sign up and pay the mentoring fees to get it.

Maybe I'll have to so I can see what I am missing out on.
I wonder if they have a capital guarantee?

[elguapo]

I must say that some of this confuses me these days.
One minute prices can justgo up, nekminute someone bags a bargain $100k or so under value.
Or is the $600kish the new value and they paid fair price?
But that would mean prices came back a bit and that can't (and never) happens in Auckland.

You need to get a property investors mindset, this wasn't falling house prices, this was a purchase at 20% below market value made possible with a superior property investment mentor.

[big fella]

You need to get a property investors mindset, this wasn't falling house prices, this was a purchase at 20% below market value made possible with a superior property investment mentor.

I thought it was a good purchase price to be fair although Davo disagrees with me which is fine.
House prices have fallen if you listened to and believed Ron Hoy Fong (prior to the Brad Sugars event) and we all need to buy now before it takes off again.