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  1. #4801

    Default

    Interesting recent property transaction at 2A Church St, Devonport in Auckland - sold at 33% discount to lowest valuation.
    - not sure if there are structural problems with the property
    FYI, the valuation on homes.co.nz is 2,300,000


    From interest.co.nz


    Sold at auction for 1,289,000
    Rateable Value 1,725,000
    Lowest valuation 1,920,000
    https://www.trademe.co.nz/property/i...nd/Devonport/C...

  2. #4802
    Join Date
    Sep 2004
    Location
    Hastings
    Posts
    12,901

    Default

    Quote Originally Posted by JBM View Post
    In 1898, Swedish economist Knut Wicksell argued that . . . .allocating capital into less productive investments and . . .
    This is an old proverbial hoary chestnut.

    Lots of talk about productive versus the antithesis.

    Very little talk that defines productive and provides viable examples.
    Try Radenbrea Studios for hand-made designer jewellery. Especially if you're looking for a great gift for your lady love.
    Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

  3. #4803
    Join Date
    May 2008
    Posts
    2,841

    Default

    Quote Originally Posted by JBM View Post
    NZ natural rate 7% ??
    Not any more.
    Further more, it will probably never return to 7%.
    Which takes a lot of wind out of your sails.

  4. #4804
    Join Date
    Sep 2007
    Location
    Auckland
    Posts
    7,262

    Default

    Quote Originally Posted by Chris W View Post
    Interesting recent property transaction at 2A Church St, Devonport in Auckland - sold at 33% discount to lowest valuation.
    - not sure if there are structural problems with the property
    FYI, the valuation on homes.co.nz is 2,300,000


    From interest.co.nz


    Sold at auction for 1,289,000
    Rateable Value 1,725,000
    Lowest valuation 1,920,000
    https://www.trademe.co.nz/property/i...nd/Devonport/C...
    Those valuations on homes.co.nz are pretty inaccurate.

    And the guys over at interest.co.nz have been talking about the Auckland property crash with glee for about 3 years now.

  5. #4805

    Default

    Quote Originally Posted by Davo36 View Post
    Those valuations on homes.co.nz are pretty inaccurate.

    And the guys over at interest.co.nz have been talking about the Auckland property crash with glee for about 3 years now.
    FYI, the transaction was a comment made on interest.co.nz in the comments section.

    Yet, still selling at a 25% discount to July 2014 Council Valuation of 1,725,000. FYI, the July 2014 council valuation shows value of land at 940,000 and value of improvements at 785,000

    Not sure the reason for the discount - if it there is structural issues, the property is leasehold or anything other problems with the property.

  6. #4806
    Join Date
    Apr 2004
    Posts
    593

    Default

    Quote Originally Posted by Bob Kane View Post
    Not any more.
    Further more, it will probably never return to 7%.
    Which takes a lot of wind out of your sails.
    Thats a bold claim >> much the same as I'm sure many would have said a few years ago about rates never getting this low>>

    I guess the natural rate is what keeps both savers and leaders balanced ....and as the NZD is such a small economy at the bottom of the world ..it must have higher debt(bond/treasury) rates to attract foreign capital >>than say the monster USD -EURO-YEN rates

    “NZ banks use a serving rate higher than the current rates shown on their website and this determines the amount a person can borrow. They vary from bank to bank and most are at 7.5%. ANZ has just reduce this to 7.3%.....(interest.co.nz)


    Lowest rates in 5000yrs !
    https://www.businessinsider.com.au/c...15-9?r=US&IR=T


    Energy is well known core to inflation >>>(IMHO oil will spike $100+ before 2020)

    While the Mainstream media continues to put out hype that technology will bring on abundant energy supplies for the foreseeable future, the global oil and gas industry is actually cannibalizing itself just to stay alive. Increased finance costs, falling capital expenditures and the downgrade of oil reserves are the factors, like flesh-eating bacteria, that are decimating the once great oil and gas industry.

    This is all due to the falling EROI – Energy Returned On Investment in oil and gas industry. Unfortunately, most of the public and energy analysts still don’t understand how the Falling EROI is gutting the entire system. They don’t see it because the world has become so complex, they are unable to connect-the-dots. However, if we look past all the over-specialized data and analysis, we can see how bad things are getting in the global oil and gas industry.

    https://srsroccoreport.com/warning-t...to-stay-alive/
    Last edited by JBM; Today at 06:15 PM.

  7. #4807
    Join Date
    Sep 2007
    Location
    Auckland
    Posts
    7,262

    Default

    Quote Originally Posted by Bob Kane View Post
    Not any more.
    Further more, it will probably never return to 7%.
    Which takes a lot of wind out of your sails.
    Yes, if interest rates ever go back there, half the country is under water. So it simply won't be allowed to happen.


 

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