And the bull of 'international city'.
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Originally posted by Wayne View Post
The same NIMBY's who don't want more supply are also opposed to better public transport, other transport options, and rates rises to pay for making this city comparable to international ones... but are happy to take the massive increases in capital gains.
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House Prices Are Wicked So all LLs Must Also Wicked
Ghetto Warning As Property Investors Take Lion's Share Of Cheap Houses
12 June 2016
Originally posted by StuffParts of New Zealand are in danger of becoming slums within five or 10 years if the concentration of investor purchases is allowed to continue, property experts have warned. CoreLogic data has shown investors account for 42 per cent of Auckland's overall sales, 38 per cent of Wellington's and 42 per cent of Christchurch's. But within those cities, the data shows areas with the most affordable housing are firmly in investors' sights. Wellington's central apartments have become an investor favourite. Analyst Nick Goodall said that, so far in 2016, 70 per cent of Te Aro sales had been to investors. "At the same point last year, they had accounted for 58 per cent of sales," he said.
7 June 2016
Originally posted by StuffProperty investors searching for yield are flocking to cheaper Auckland suburbs. Data from University of Auckland property lecturer Michael Rehm and PhD student Ozgur Yildirim shows that in the first half of 2015, investors made up a significant proportion of South Auckand sales. Eighty per cent of sales in Otara were to investors, up from 62 per cent in 2010. That was followed by nearby Manurewa North, where 68 per cent of sales were to investors. Apartments were also popular. Just over 80 per cent of Newmarket unit and apartment sales were to landlords in the same period.
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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.
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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)
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18. Singapore (23.17)
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22. New York, USA (21.60)
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34. Paris, France (17.99)
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44. Soul, Korea (16.64)
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94. Sydney, Australia (11.60)
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129. Auckland, NZ (9.85)
Source: Property Price Index 2016
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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?
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Originally posted by chrisgoh View Post2016 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
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