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  1. #1
    Join Date
    Sep 2003
    Location
    High up above and deep down under
    Posts
    10,915

    Default Waikato gets set for Auckland home invasion

    Waikato gets set for Auckland home invasion

    Source: REINZ
    Auckland and Hamilton sales price medians for the year ending April.



    New lending rules have thrust Waikato homes front and centre of Auckland property investors - and that could see prices soar here come November.
    The Reserve Bank has announced investors north of the Bombay Hills will have to cough up a 30 per cent deposit on homes from October, in a desperate attempt to cool Auckland's piping hot property market.
    That will mean finding a $216,000 deposit if the current median house price in Auckland region of $720,000 holds for the next few months.
    But just down the road in Waikato, investors will only have to find 15 per cent for a loan. Given our current regional median house price of $350,000, the $52,500 needed could see an influx of homebuyers looking for a better deal.
    Numbers like those will make the home of the Chiefs irresistible, say real estate agents.
    The general manager of Harcourts Hamilton, Brian King, said the announcement would add more Aucklanders to the mix of those hunting houses here.
    "It will certainly help people to feel that maybe Hamilton is a bloody good alternative to where they are in Auckland at the moment.
    "We're getting a huge amount of Auckland buyers coming into the market anyway, so we are going to see maybe more come in."
    Read more at
    http://www.stuff.co.nz/waikato-times...-home-invasion
    "There's one way to find out if a man is honest-ask him. If he says 'yes,' you know he is a crook." Groucho Marx

  2. #2

    Default

    And so it begins...
    "Remember, people will judge you by your actions,not your intentions.You may have a heart of gold -but so does a hard-boiled egg".

  3. #3
    Join Date
    Mar 2009
    Posts
    155

    Default

    This has started couple of months ago. I have been at Hamilton Auctions regularly and seen the price wars from Auckland buyers for properties in hospital and hillcrest area. Everyone vendor wants to go to auction similar to Auckland these days.

    Quote Originally Posted by muppet View Post

  4. #4
    Join Date
    Jul 2011
    Location
    Tauranga
    Posts
    2,769

    Default

    Had a flick thru the Bayleys Blueprint mag (Tauranga) at the chip shop yesterday think two properties were priced the rest including one on my street that's been on the market for months are all listed as Auction.

  5. #5
    Join Date
    Apr 2008
    Location
    Auckland
    Posts
    377

    Default

    My guess, not going to happen. Even though PIs target cashflow mainly, with IO mortgages, they are relying on capital gain. It is RV and net worth that most PIs broadcast not cashflow.

    Unless there is a high likelihood of capital gains in areas outside Auckland I cannot see investment increasing significantly. Like it or not, overseas buyers and returning kiwis have added additional pressure on the Auckland housing market and fuelled the fire. Unless other centres become more attractive to these buyers the gains will not be there.

    IMO, a lot of hot air coming from the PI community who are fighting against a lending change that has been incorporated to protect them and their industry (oh as well as the country).

  6. #6
    Join Date
    Jan 2010
    Location
    Hibiscus Coast
    Posts
    1,790

    Default

    Awful, have lived in Hamilton (one of many cities experienced living in over time) wouldn't live there again if it was last affordable place to buy.
    The occupants leave on a Friday night returning on a Sunday, they head off to the Coromandel, Auckland, Rotorua, Taupo, Bay of Plenty, anywhere but stay in that berg over the weekend.


 

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