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  1. #1

    Question Auckland slowing?

    What does everything think the validity of the lastest QV article? Sorry, I don't know how to post links...

    'Tuesday, 09 April 2013
    Signs that main centres may be slowing'

  2. #2
    Join Date
    May 2004
    Location
    Bay Of Plenty, NZ
    Posts
    3,604

    Default

    http://www.nzherald.co.nz/business/n...ectid=10876406

    Not sure how accurate the article is, I'm just providing the link.
    Patience is a virtue.

  3. #3
    Join Date
    May 2008
    Location
    Torbay, Auckland
    Posts
    3,859

    Default

    Quote Originally Posted by PropertyParty View Post
    What does everything think the validity of the lastest QV article? Sorry, I don't know how to post links...

    'Tuesday, 09 April 2013
    Signs that main centres may be slowing'

    I was at auctions the other day, and I reckon it is slowing a tad, but wouldnt hold your breath, I would say it was a pause if anything.
    People are taking a breather to adjust to the new price level, that has taken hold these last 4 to 6 months accross all of Auckland.
    The higher prices had encouraged a flood of new properties for sale at high price expectations from vendors, some sold and some didnt.
    Just my ravings and opinion.

    There is still a shortage, there is still demand, that equals only one thing.
    The question is the rate of that price rise.

    My thinking is that there is still another 20% rise in Auckland prices over the next 2 to 4 years.
    Before some sort of correction.

    That is partly related to the marginal cost of new building being so high, due to red tape and council developer bashing, there favourite past time.

  4. #4
    Join Date
    Sep 2012
    Posts
    227

    Default

    Quote Originally Posted by Bluekiwi View Post
    I was at auctions the other day, and I reckon it is slowing a tad, but wouldnt hold your breath, I would say it was a pause if anything.
    People are taking a breather to adjust to the new price level, that has taken hold these last 4 to 6 months accross all of Auckland.
    The higher prices had encouraged a flood of new properties for sale at high price expectations from vendors, some sold and some didnt.
    Just my ravings and opinion.

    There is still a shortage, there is still demand, that equals only one thing.
    The question is the rate of that price rise.

    My thinking is that there is still another 20% rise in Auckland prices over the next 2 to 4 years.
    Before some sort of correction.

    That is partly related to the marginal cost of new building being so high, due to red tape and council developer bashing, there favourite past time.
    20% is a bold call.
    I hope it comes true.

    I have noticed a flat period in the market over the last month or two.

    I don't know if that means prices are stabilising or having a little pause like bluekiwi thinks.

    All I know is that agents are still putting brochures in my letterbox begging for new listings.
    Saying they have ran out of listings but have buyers waiting.

    New level of desperation a couple of weeks ago...
    One agent listed 3 or 4 buyers and their price range and wishlist.

    That tells you there is still major shortage of properties in my PPOR area at least.
    Whether that means people will pay more, I dunno.

  5. #5

    Default

    So are you all still buying?

  6. #6
    Join Date
    Sep 2012
    Posts
    227

    Default

    Not me.

    MAMC

  7. #7

    Default

    Sorry - whats MAMC? I guess I could search the forum.....

  8. #8
    Join Date
    May 2008
    Location
    Torbay, Auckland
    Posts
    3,859

    Default

    Quote Originally Posted by BigRedDog View Post
    20% is a bold call.
    I hope it comes true.

    I have noticed a flat period in the market over the last month or two.

    I don't know if that means prices are stabilising or having a little pause like bluekiwi thinks.

    All I know is that agents are still putting brochures in my letterbox begging for new listings.
    Saying they have ran out of listings but have buyers waiting.

    New level of desperation a couple of weeks ago...
    One agent listed 3 or 4 buyers and their price range and wishlist.

    That tells you there is still major shortage of properties in my PPOR area at least.
    Whether that means people will pay more, I dunno.
    Considering 12% in Auckland in the last year, I dont think 20% over the next 3 is all that bold.
    Consider what will happen, if Immigration kicks strongly positive, remember is been nuetral for so long now, the swing is coming.
    I need more equity to pay for losing 150k to 200k through being council crucified.
    Its a lesson I intend to learn from.

    And that lesson is that the resource management act, and ridiculous council rules and policy.
    Are murdering any fool that tries to develop or improve housing, or create additional household living accomodation.
    That the govt and council have created a toxious environment for anyone trying to increase housing supply.
    That the cost of, and supply of said housing is high and low respectively.

    That equals costly limited supply, and that creates certainly in my mind, from 101 Economics, that house prices can only rise - where there is demand for it.
    And that is Auckland.

    I intend to buy 5 houses this year, around the 550k mark, as long term rentals, if I can get the right yield of course.
    To claim back the equity over time (3 years), I have lost through the same system.

    Its called karma.

  9. #9
    Join Date
    Sep 2012
    Posts
    227

    Default

    Ok you are walking the talk.
    Backing your beliefs so that is good.


 

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