Auckland House Prices fall 4 percent

[Perry]

Latest valuation guesstimates from Questionable Value, for Hastings area, just in.

I can't recall when the last one was done. Every 4 or 5 years, isn't it? (For General Revaluations)

Any way . . .

An increase in CV of 77%.

An increase in land value of 100%.

An increase in improvements value of 23%.

Quite a jump.

[JBM]

Latest valuation guesstimates from Questionable Value, for Hastings area, just in.

I can't recall when the last one was done. Every 4 or 5 years, isn't it? (For General Revaluations)

Any way . . .

An increase in CV of 77%.

An increase in land value of 100%.

An increase in improvements value of 23%.

Quite a jump.

Yes like many areas have exploded in value Invercargill is one I've followed closely over the years ...much the same if not even higher >> crazy times in NZ Res Property ..when it turns it's going be one hell of a bloodbath ... and yes Perry you could well be putting my post up during 2020 and NZ Property will still be fine >> but it's only a matter of time at best we flatline for a very long time

[Perry]

and yes Perry you could well be putting my post up during 2020 and NZ Property will still be fine but it's only a matter of time at best we flatline for a very long time

That's like the weather guesscast people saying one day soon, the sun will shine. Eventually, they'll be right.

[JBM]

That's like the weather guesscast people saying one day soon, the sun will shine. Eventually, they'll be right.

So you think a major fall in NZ av. property prices could be many years away maybe invercargill will early next decade have 600-700k av homes prices ?? maybe Qtn,Auckland 1.5mill to 2mill well thats if the trend stays the same right ?

FACT = New Zealand's house prices are among the most unaffordable in the world

[Perry]

So you think a major fall in NZ av. property prices could be many years away maybe invercargill will early next decade have 600-700k av homes prices ?? maybe Qtn,Auckland 1.5mill to 2mill well thats if the trend stays the same right?

No, I leave it to others to make predictions. I just keep an eye on their dubious prognostications.

FACT = New Zealand's house prices are among the most unaffordable in the world

Why would that be?

Define 'affordable.'

NZ wages and salaries are pathetic, too.

[Beano]

Latest valuation guesstimates from Questionable Value, for Hastings area, just in.

I can't recall when the last one was done. Every 4 or 5 years, isn't it? (For General Revaluations)

Any way . . .

An increase in CV of 77%.

An increase in land value of 100%.

An increase in improvements value of 23%.

Quite a jump.

I think the bulk of the increase in land was over over last 2 years .

[Perry]

A bit over three years on, now.
How's it all looking folks?

Some interesting point-of-view posts, reading back.
(Or forwards from the beginning.)

[McDuck]

A bit over three years on, now.
How's it all looking folks?

Some interesting point-of-view posts, reading back.
(Or forwards from the beginning.)

As annoying it is, to watch the self appointed judging, (from a safe standpoint).
It's an immensely useful and valuable service.
Thanks for taking the time to do it.

It reveals the nature and drivers of our economic system to date.
(just consider the unusual economic tools that have been recently deployed to keep the financial system ticking).

Why have all these predictions been wrong?
Because they have been bets against the status quo.

Why has the status quo been preserved?
Because the people making the rules see it as beneficial.

Will the people making the rules be able to always steer the system to their liking?
Will the people making the rules decide they like it some other way?
Ha.
We'll just have to wait and see.

[Perry]

On 25 Apr 2019

Oil prices looking to spike ... NZD showing weakness .... $3lt fuel more inflation to come ..

Soothsayerism nosedives again.

[Perry]

Here we are - a year on - walking amidst the graveyard of predictions past.

House prices up, up and away;
Residential rental pool shrinking because of the socio-commie gummint's policies;
Residential rental rates increasing;
More homelessness;
More millions of taxpayer dollars being spent monthly on motels;
No practical or tangible signs of significantly increased house building despite kiwijilt Mk III (or which ever number we're up to, now);
Promised immigration cuts prove to be the exact opposite in extremis, exacerbating the residential housing shortage;
Shortage of building materials and tradies apparent;
Petrol prices not yet reached $3 / litre;
Inflation definitely on the up and up;
Infatuation with professed socio-commie comrade commissar Cindy still burgeoning;
No effective parliamentary opposition;
GDP down (no real surprise, there, except to econ-o-mist soothsayers);
Oh, woe is we.

[McDuck]

Here we are - a year on - walking amidst the graveyard of predictions past.

House prices up, up and away;
Residential rental pool--- -
Residential rental rates ----
-;
More millions of taxpayer dollars being spent ----
-
Shortage of building materials ----;
-
Inflation definitely on the up ----
-
-
-

For historical accuracy...

The above comments should be taken with a grain of salt.
They have neglected to mention the main factor.
(A black swan even that would have derailed the most astute predictions).

We are in the midst of a global Bio event.
A virus has disrupted our way of life.
It was found that the virus, being a mostly airborne pathogen, could be slowed by nationwide lockdowns.

Being one of the few countries that acted early, we have had it relatively easy.
Most of the global financial world, fearing the economic slowdown,
decided to use some old fashioned financial fluffing techniques, to mask the economic effects.

NZ's Reserve Bank, blindly followed that thinking,
Without realizing that a Covid free country would not require it, at least to that extent.
This financial fluffing has caused some large and very specific price distortions.
(Our present system of exchange involves fiat money, open the the imaginations of a select few, and vulnerable to distortion and abuse).

This is just a brief overview,
To get a full picture, many other recent historical events would need to be understood.
(And by recent I mean everything after the steam age).

https://en.wikipedia.org/wiki/Nicolas_L%C3%A9onard_Sadi_Carnot