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Auckland Bounces Back - What a surprise!

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  • Auckland Bounces Back - What a surprise!


    REINZ says the median price for an Auckland house was $890,000 in March, up from $800,000 in February - a rise of 11.3 per cent.
    Seasonally-adjusted median prices in New Zealand's largest city were up 3.2 per cent in March. Since March last year, prices have risen by 8.5 per cent.


    But there's some lazy reporting here. Some of the stats just don't make sense.

    Across the country, median house prices were up 10.3 per cent month-on-month in March to $546,000

    Across New Zealand, median prices for the year are up by 10.3 per cent from March 2016.
    AAT Accounting Services - Property Specialist - [email protected]
    Fixed price fees and quick knowledgeable service for property investors & traders!

  • #2
    Not really bouncing back, it hasn't stopped. It only slowed due to natural annual cycle, RB restrictions etc. What has changed, which I am very happy about, is that auctions are failing so we are seeing more PBN and listed prices.
    Makes it much easier to negotiate.

    Comment


    • #3
      Yes, can't stand auctions! But they made for a bit of good buying since December when I could ask the agent for a guide price, they suggest I attend the auction, I refuse and tell them to call me back when it passes in. Fun to see the REAs bristle a little bit.
      AAT Accounting Services - Property Specialist - [email protected]
      Fixed price fees and quick knowledgeable service for property investors & traders!

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      • #4
        Originally posted by Bobsyouruncle View Post
        Not really bouncing back, it hasn't stopped. It only slowed due to natural annual cycle, RB restrictions etc. What has changed, which I am very happy about, is that auctions are failing so we are seeing more PBN and listed prices.
        Makes it much easier to negotiate.
        Home and Income properties still your favourite ?

        Comment


        • #5
          Warning still...

          Four nations are most exposed to a housing correction and we're one of them.

          Comment


          • #6
            What some of you seem to forget is if the masses can't afford - sooner or later it will crack up and bust.

            Comment


            • #7
              Originally posted by MichaelNZ View Post
              What some of you seem to forget is if the masses can't afford - sooner or later it will crack up and bust.
              increase in interest rates will have big impact

              Comment


              • #8
                Originally posted by big fella View Post
                increase in interest rates will have big impact
                That as well for a double whammy. Interesting times ahead.

                We own a cheap place in provincial New Zealand with good equity so not dangerously exposed.

                Comment


                • #9
                  He's right. Economic shocks never impact the provinces.
                  Free online Property Investment Course from iFindProperty, a residential investment property agency.

                  Comment


                  • #10
                    Originally posted by Nick G View Post
                    He's right. Economic shocks never impact the provinces.
                    You must be having us on.

                    The point is - if one bought in the provinces in 2013 then they are unlikely to lose, bar other reasons, like Edgecumbe for example.

                    Comment


                    • #11
                      Michael check the states of property prices in your area, Tararua. You'd be naïve to think Pihiatua, Woodville or Dannevirke would not be adversely effected by a down turn. You have a much smaller rental/tenant base and the economic factors that drive Tararua could be changed by any number of events. Look to Greymouth once the coal mines shut, Hawera/South Taranaki when Commodity prices changed (milk powder prices) Or for further evidence look at the change of Tokoroa with the mechanisation of the milling process, The population of Tokoroa vastly Changed. Food for thought.

                      P.G

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                      • #12
                        Originally posted by Peter Griffin View Post
                        Michael check the states of property prices in your area, Tararua. You'd be naïve to think Pihiatua, Woodville or Dannevirke would not be adversely effected by a down turn.
                        We bought at the market low point in 2013 so I do not believe we would lose.

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