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Auckland median house price falls for 4th Consectuive month - down $68k in 4 months

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  • Auckland median house price falls for 4th Consectuive month - down $68k in 4 months


  • #2
    ^

    Westpac acting chief economist Michael Gordon said prices in Auckland had effectively stalled since the middle of last year

    and combined with falling sales and rising inventories of unsold homes, there was a

    strong sense that the Auckland market had peaked.
    have you defeated them?
    your demons

    Comment


    • #3
      just putting it out there:

      how likely is that banks might ask people to reduce exposure, paying in towards debt, etc?
      how much it needs to fall further for banks to ask such contribution? a $100k fall? a $150k fall?

      Comment


      • #4
        Originally posted by propertybuyingNZ View Post
        just putting it out there:

        how likely is that banks might ask people to reduce exposure, paying in towards debt, etc?
        how much it needs to fall further for banks to ask such contribution? a $100k fall? a $150k fall?
        where is Gary and Bob? - they'll know

        Comment


        • #5
          Would they do that if the payments are still being made though? I know banks can't revalue their portfolios for capital purposes unless there's a new lending event (such as a new purchase, falling into arrears etc. )
          Your Home Loan - Wellington Mortgage Broker
          [email protected]

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          • #6
            ^^^

            very unlikely i'd think

            as it could trigger the problem they would be trying to avoid

            but in the unlikely event prices could be proven to have fallen 30%?

            you'd think they'd want to start having that conversation at bank meetigs

            but afaik

            not even the GFC caused an all round 30% price drop

            everything should be more robust on the bank side by now

            and we know the shortage in ak isn't being alleviated...
            have you defeated them?
            your demons

            Comment


            • #7
              Originally posted by Don't believe the Hype View Post
              where is Gary and Bob? - they'll know
              Nice one DBTH.

              But maaaate, prices never go down, so you're just being negative.

              Bob knows this cause God told him. Gary knows this cause Ron told him.

              Squadly dinky do!

              Comment


              • #8
                Originally posted by Davo36 View Post
                Nice one DBTH.

                But maaaate, prices never go down, so you're just being negative.

                Bob knows this cause God told him. Gary knows this cause Ron told him.



                You're right... my bet is they're working second jobs to cover their loss making properties...

                With a $40k cash flow buffer on $5mil lending, zero or negative growth and 12 month mortgages at around 4.5% coming off in the next 6 months you'd want to be working that second job

                Comment


                • #9
                  I sort of understand the comments that fly when certain people are on the thread. Sometimes, people even ask for it.

                  But why are we talking about this when they're not here? Seems awfully immature and inflammatory.
                  AAT Accounting Services - Property Specialist - [email protected]
                  Fixed price fees and quick knowledgeable service for property investors & traders!

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                  • #10
                    If prices keep falling - how will Labour ever get elected without a property crisis??
                    Oh no, quick we need an urgent inquiry!
                    The three most harmful addictions are heroin, carbohydrates and a monthly salary - Fred Wilson.

                    Comment


                    • #11
                      Originally posted by Anthonyacat View Post
                      I sort of understand the comments that fly when certain people are on the thread. Sometimes, people even ask for it.

                      But why are we talking about this when they're not here? Seems awfully immature and inflammatory.
                      I agree, removed my last comment. Was trying to be funny, but it was silly really.
                      Squadly dinky do!

                      Comment


                      • #12
                        I think a few people have overestimated the spending power of first home buyers; especially when more houses are now becoming available. There's only so many people in the first home buyer catagory with incomes capable of servicing the debt now required - it was a completely different situation when these houses were going in the 400's.

                        It will be interesting to see if negatively geared investors are able to increase their rents as fixed loans come up for renewal, or if there's enough supply for renters to shop around to keep getting the same rate.

                        As for those investors who DO meet the 40% LVR requirement, why would they want to buy something now rather than waiting 6-12 months and picking up an absolute bargain? I think it's incredibly telling that every second radio advertisement is no longer propellor property / NZ invest / insert-property-company-name-here.

                        Comment


                        • #13
                          Originally posted by Anthonyacat View Post
                          I sort of understand the comments that fly when certain people are on the thread. Sometimes, people even ask for it.

                          But why are we talking about this when they're not here? Seems awfully immature and inflammatory.

                          Really? ... just pointing out the stupidity of the level of gearing and the blinkered view that prices only ever go up.

                          some very very bad decision making under the guise of coaching that they chose to put on the public record. I'm simply going back to their 'advice' given only 90-120 days ago and reviewing with a touch of sarcasm and a toung firmly in my cheek.

                          Comment


                          • #14
                            Originally posted by mrsym0r View Post
                            I think a few people have overestimated the spending power of first home buyers; especially when more houses are now becoming available. There's only so many people in the first home buyer catagory with incomes capable of servicing the debt now required - it was a completely different situation when these houses were going in the 400's.

                            It will be interesting to see if negatively geared investors are able to increase their rents as fixed loans come up for renewal, or if there's enough supply for renters to shop around to keep getting the same rate.

                            As for those investors who DO meet the 40% LVR requirement, why would they want to buy something now rather than waiting 6-12 months and picking up an absolute bargain? I think it's incredibly telling that every second radio advertisement is no longer propellor property / NZ invest / insert-property-company-name-here.

                            From the propellor website: "helping you achieve better returns with Christchurch, Hamilton and Auckland property investment."

                            oh man. Toast.

                            Comment


                            • #15
                              Harcourts say there average Auckland house sale price has fallen 1.1% over the last 12 months (Feb 17 vs Feb 16).

                              When was the last time we had a year on year drop in the Auckland market?

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