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  1. #651
    Join Date
    Apr 2016
    Posts
    2,343

    Default

    As long as it's not owned by HNZ, they are the worst neighbours to have.

  2. #652

    Default

    Quote Originally Posted by Boom View Post
    ^^^^ raises a good point.. would you rather live next door to an investment property or one owned by home owner?
    I'm happy to live next door to rented houses cause I own them ... Full control of who lives next door! Problem of bad neighbour solved!

  3. #653
    Join Date
    Mar 2007
    Location
    Auckland
    Posts
    3,000

    Default

    Depends on who exactly the 'investor' is:

    The investor may be someone who renovates the property and then sells it.

    The investor may be someone who just buys and sells, doing very little.

    The investor may be caring parents who realize that their offspring cannot afford buy a property in today's market, so they buy a property and rent it to their own children - thus technically becoming classed as an investor.

    The investor may be someone who buys a property and then rents it out on the open market to someone who cannot afford to buy and therefore, if there were no properties to rent, would otherwise be homeless.

    Not all investors wear devils horns and a forked tail.

  4. #654

    Default

    2016 House Price to Income Ratio. Interesting result...

    1. Hong Kong (37.57)
    2. Hanoi, Vietnam (35.5)
    3. Mumbai, India (35.25)
    4. London, UK (33.51)
    5. Beijing, China (33.45)
    .
    12. Tokyo, Japan (25.97)
    .
    18. Singapore (23.17)
    .
    22. New York, USA (21.60)
    .
    34. Paris, France (17.99)
    .
    44. Soul, Korea (16.64)
    .
    94. Sydney, Australia (11.60)
    .
    129. Auckland, NZ (9.85)

    Source: Property Price Index 2016

  5. #655

    Default

    New Zealand is the third popular country with Chinese property investors. By March 2016 residential house prices in Auckland were up 11.6% year-on-year. Is it a coincidence? I don't think so. The most attractive cities for the Chinese are Auckland, Christchurch and Queenstown. Does anybody have data on the unaffordability of cities in New Zealand?

  6. #656
    Join Date
    Dec 2015
    Posts
    297

    Default

    Quote Originally Posted by chrisgoh View Post
    2016 House Price to Income Ratio. Interesting result...

    1. Hong Kong (37.57)
    2. Hanoi, Vietnam (35.5)
    3. Mumbai, India (35.25)
    4. London, UK (33.51)
    5. Beijing, China (33.45)
    .
    12. Tokyo, Japan (25.97)
    .
    18. Singapore (23.17)
    .
    22. New York, USA (21.60)
    .
    34. Paris, France (17.99)
    .
    44. Soul, Korea (16.64)
    .
    94. Sydney, Australia (11.60)
    .
    129. Auckland, NZ (9.85)

    Source: Property Price Index 2016
    What's your point? The vast majority of cities on that list have significantly higher ratios because their average incomes are so low, not because their average property prices are so high - prime examples being #2 & #3 on the list you provided above. For instance the average salary in Mumbai is under $9,000 NZD, which is far less than even a beneficiary gets in New Zealand. What throws the ratios off even more so is that in those same low income cities, the "housing" for many on lower incomes is not included in the average house price figures as no one buys and sells slumlike housing on an individual residence basis.

  7. #657

    Default

    My point is that housing prices are supposed to correlate with people's income. When the demand for properties significantly surpasses the offer, this balance will be destroyed.

  8. #658
    Join Date
    Sep 2008
    Posts
    7,558

    Default

    how much wood

    chuck?
    have you defeated them?
    your demons

  9. #659

    Default

    Agree with BNZ's chief economist, "The New Zealand housing market isn't a bubble, it's undergoing a permanent "repricing"

    Source: Newshub



  10. #660

    Default

    Permanent repricing - said differently a new equilibrium is reached balancing out supply and demand. The permanency of this could be debated.


 

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