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  1. #81
    Join Date
    Sep 2008
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    7,526

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    sqatting in

    mcduck mcmansions

    ok?
    Last edited by eri; 16-01-2017 at 06:46 PM.
    have you defeated them?
    your demons

  2. #82
    Join Date
    Sep 2004
    Location
    Hastings
    Posts
    14,738

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    Central Auckland house prices plummet, Real Estate Institute data shows
    24 April

    Mt Albert, Royal Oak and Long Bay down;
    Takapuna, Onehunga, Morningside, Rosehill, Oteha, Milford, Glen Innes, Grafton and Stonefields all up.

    Is the sky falling?

    Will there be a run on caves?
    With all the Draconian new laws for residential rental LLs, perhaps AirBnB would be better? To avoid any hassle in Hawke's Bay, consult Be My Hostess. Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

  3. #83
    Join Date
    May 2008
    Location
    Torbay, Auckland
    Posts
    3,858

    Default

    Quote Originally Posted by Perry View Post
    Central Auckland house prices plummet, Real Estate Institute data shows
    24 April

    Mt Albert, Royal Oak and Long Bay down;
    Takapuna, Onehunga, Morningside, Rosehill, Oteha, Milford, Glen Innes, Grafton and Stonefields all up.

    Is the sky falling?

    Will there be a run on caves?
    Another year of it for sure.
    Then maybe 3 years of slump.
    Paul Magill B.com
    Bluekiwi Property Consulting

  4. #84
    Join Date
    Sep 2004
    Location
    Hastings
    Posts
    14,738

    Default

    But if some areas are up and some are down, what if the average is no change?

    Apart from location preferences by buyers.
    With all the Draconian new laws for residential rental LLs, perhaps AirBnB would be better? To avoid any hassle in Hawke's Bay, consult Be My Hostess. Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

  5. #85
    Join Date
    May 2008
    Location
    Torbay, Auckland
    Posts
    3,858

    Default

    Its all down.

    Don't be fooled by stats Perry, you can only go by real life on the ground experience.

    When property crashes only the good houses in the good streets sell ie. the more expensive stock.
    So the sales stats don't reflect the actual market crash.

    No area's are up.
    Paul Magill B.com
    Bluekiwi Property Consulting

  6. #86
    Join Date
    Sep 2007
    Location
    Auckland
    Posts
    8,268

    Default

    Wow, BK, you haven't been on here for ages.

    I think that data in the article is median sales price. These can be up or down over short periods of time, as we know.
    Squadly dinky do!

  7. #87
    Join Date
    May 2004
    Posts
    2,742

    Default

    Quote Originally Posted by Bluekiwi View Post
    Its all down.

    Don't be fooled by stats Perry, you can only go by real life on the ground experience.

    When property crashes only the good houses in the good streets sell ie. the more expensive stock.
    So the sales stats don't reflect the actual market crash.

    No area's are up.
    That would explain the median price holding up even for Auckland. There are a lot of apartments and units for sale in central Auckland (Trademe numbers), about half of all Trademe for sale listings, mostly apartments. Because they are generally less expensive than standalone homes and town houses, a decrease in sales would help maintain the median prices.

    Has there been a decrease in sales of apartments and units? Or an increase in these for sale? I don't know but we do know new bank lending to property investors is now about a third of what it was in mid 2016. Many apartments have been bought as rentals in the past.

    If property investors are buying fewer rentals, who will buy them? It's not like owner occupiers have had no choice of apartments in recent years. Join the dots.

  8. #88
    Join Date
    Sep 2004
    Location
    Hastings
    Posts
    14,738

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    Quote Originally Posted by Bluekiwi View Post
    Don't be fooled by stats Perry.
    I have no interest in the Auckland or its prices, fortunately.

    I posted the item because I expect quite a few PT Forumites will be interested.

    But comparisons using median prices seem to me to be almost deceptive.

    I don't recall it with any great accuracy, but someone once mentioned that - using the median index - if Bill Gates moved to NZ, approximately a million people would immediately be below the poverty line.

    Lies, damned lies, political promises and statistics, eh?
    With all the Draconian new laws for residential rental LLs, perhaps AirBnB would be better? To avoid any hassle in Hawke's Bay, consult Be My Hostess. Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

  9. #89
    Join Date
    Apr 2004
    Posts
    739

    Default

    Quote Originally Posted by ammar View Post
    New Zealand is still going to be a desired place to live for immigrants.
    Well rich ones ... you have to pay $300pw+ to rent a craphole in Invercargill .. NZ living is very unaffordable unless you're on a good income or happy to be in bunk beds with other per room
    Oil prices looking to spike ... NZD showing weakness .... $3lt fuel more inflation to come ..

  10. #90
    Join Date
    Sep 2004
    Location
    Hastings
    Posts
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    Prediction noted. Back in six months.
    With all the Draconian new laws for residential rental LLs, perhaps AirBnB would be better? To avoid any hassle in Hawke's Bay, consult Be My Hostess. Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!


 

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