Ok I have no doubt Auckland is crashing, after protecting itself from the GFC with absurd borrowings, then the average non investor thinking they like myself have a master in commerce or even that because they bought a property and it went up in value by ridiculous amounts it was all planning boosting their JAFA mentality to LIMITLESS proportions. Those on the wise clearly used the gains in trusts to buy neutrally geared property, knowing with a crash comes 2x-4x current interest rates.
Anyway, I personally calculated imo as of March 2017 Avg house prices were 40% over inflated (based on historical capital gains and not recent decade).
I dont expect all properties will drop 40%, some 10%, some 70%. But I do think its started.
Now Im not a big time investor. Ive only ever ran a few properties at a time while living in NZ and Aus, and Ive always timed both my exit and reentry very well. But a lot of that is probably luck. However one key indicator to me is house sales, pretty obvious to any investor and average house prices vs predicted bottom end house values.
Id like any other tips you pros have for reentry into the market for flippers like me, I buy, reno, sell. I have low risk adversion and I dont rely on the market going up to make my money, in saying that its a lot easier in an up, but Im very comfortable with a flat market. So any tips aside from my 30+ years experience doing this would be much appreciate, I know you lot probably have a lot more experience outside the ludicrous Auckland bubble and have got more key indicators for a down turn plateauing.
Cheers all
Anyway, I personally calculated imo as of March 2017 Avg house prices were 40% over inflated (based on historical capital gains and not recent decade).
I dont expect all properties will drop 40%, some 10%, some 70%. But I do think its started.
Now Im not a big time investor. Ive only ever ran a few properties at a time while living in NZ and Aus, and Ive always timed both my exit and reentry very well. But a lot of that is probably luck. However one key indicator to me is house sales, pretty obvious to any investor and average house prices vs predicted bottom end house values.
Id like any other tips you pros have for reentry into the market for flippers like me, I buy, reno, sell. I have low risk adversion and I dont rely on the market going up to make my money, in saying that its a lot easier in an up, but Im very comfortable with a flat market. So any tips aside from my 30+ years experience doing this would be much appreciate, I know you lot probably have a lot more experience outside the ludicrous Auckland bubble and have got more key indicators for a down turn plateauing.
Cheers all
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