Ron Hoy Fong - Will The Next Boom Be The Boom Of All Booms?

[Davo36]

That's what I said.
How come Davo only throws shit at me?
Do I need to wear funny socks or a hawaiian shirt or something?

Sheesh, persecution complex much?

Maybe doing a funny little dance whilst playing the ukulele would entertain us all?

[McDuck]

Actually, housing might be in hyperinflation right now.

think about it..

in 1960 (say), only one person was working per household (aprox).

and the land was much bigger than the cramped battery hen type living boxes of today.

so maybe you need to ditch the two ambiguous names , of "household income" and "dwelling".

Maybe you could redo the calculations with " average wage" and " section size in meters"?

And maybe just do it for Auckland city, since the rest of the country follows that lead anyway.

[eri]

3 maybes = ?

[Bob Kane]

Joe Bananas shirts, (Sydney) actually. The socks you can get in Auckland :-).

Now wearing a Mambo shirt (Brisbane) and gold top socks (Farmers) - bring it on!

[Davo36]

Now wearing a Mambo shirt (Brisbane) and gold top socks (Farmers) - bring it on!

No pants Bob?

[McDuck]

Well fellas, summer is on the way.
Seems like a tropical themed beach barbecue is your only solution.
Now if one of you would put some pants on..
consider..

" Actually, housing might be in hyperinflation right now.

think about it..

in 1960 (say), only one person was working per household (aprox).

and the land was much bigger than the cramped battery hen type living boxes of today.

so maybe you need to ditch the two ambiguous names , of "household income" and "dwelling".

Maybe you could redo the calculations with " average wage" and " section size in meters"?

And maybe just do it for Auckland city, since the rest of the country follows that lead anyway" McDuck.

3 maybes = ?

Yes, I really wanted to compare apples with apples.
More specifically, value for effort, or money in this case.

[Wayne]

Don't forget that houses are bigger now than in the 60's.

[Bob Kane]

No pants Bob?

Hey, you're right!

[McDuck]

Don't forget that houses are bigger now than in the 60's.

That's true.

In order to clarify the issue, the cost of the house materials and labour need to be removed temporarily from the equation.

We can stick it back in later, once we have the dollar to square meter of land ratio.

Just two numbers (ratios) would build the roughest graph.

The Dollar Price of a particular piece of Auckland land per meter in 1960-
and the same for 2017.

[Chris W]

Just read that there has been a 20% increase in supply to the Auckland residential property market since July. That's going to potentially impact the property prices in Auckland.

[Don't believe the Hype]

Just read there has been approx 20% decline in the median price since Oct 16 in a the blue chip suburbs old mate used to spout about.

Hope council will take back ex employee engineers with a limited understanding of mathematics.

http://nzh.tw/11944135

[eri]

that figure is a bit misleading as it reflects lots of $650k? apartments

dragging hte median down

but yes

the market has clearly turned in auckland

[Davo36]

Just read that there has been a 20% increase in supply to the Auckland residential property market since July. That's going to potentially impact the property prices in Auckland.

Read where please?

So a 20% increase in available listings you mean?

[Chris W]

Read where please?

So a 20% increase in available listings you mean?

Davo36,

Yes. The increase in listings for sale.


Here is a comment from a reader on interest.co.nz

Many property commentators say that there is a shortage of new supply to meet demand and that this will continue to result in rising property prices (or they have a vested undisclosed self interest in rising property prices). What many property commentators lack understanding about a "market" for buyers and sellers is that existing residential dwellings being listed for sale are increasing supply to the "market" for buyers and sellers. There has been an increase in property listings for sale in Auckland from about 9,800 in July 2017 to almost 12,000 currently (source is trademe.co.nz) - about 20%.

[eri]

yes, now the market appears to have peaked

those who try to time the market,

those who want to avoid an increased bright line etc

are now listing as there seems no point waiting for any more easy capital gains

but generally listing at the peak prices of last year?

however the reduced numbers of buyers that have the money, or can get the money

are generally now wanting a 10?% discount from peak