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The top of towners will continue on regardless, especially in Auckland, asset rich cash poor, who cares just hold on for the next cycle and watch your asset double in value.
FH
FH
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"DEBT BECOMES IRRELEVANT WITH INFLATION". -
a cheap AK section
in 1987, was $25k
in 2007-10, it was $250k
i know of some sections
carved from lead laden bush above a 24/7 noisy motorway in central auckland
i think they want $850k...
Last edited by eri; 02-02-2019, 07:13 PM.have you defeated them?
your demonsComment
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a 100m2 build will cost no less than $250k and will take 12 months from settlement on that section to walking in the door so minimum total cost $450 on a half size section. By comparison an older 90m2 two bedroom in the same suburb on a full section asking price $340k.Originally posted by BlueSky View Post
there is no housing price crisis in Wellington... you can still buy a 2br 20mins from the CBD for under $350k
what people are complaining about is that in the popular areas some other person is willing to pay more to live there an I can or think I should have to! They’re effective complaining about the fact they live in a competitive world which is why the communist party is so popular.Comment
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That were exactly my thoughts too.Comment
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i wouldn't say it was a 'buyers market' in ak apartments either
the level of unsold stock is not high enough and the prices asked not low enough
flashier owner-occupier favoured buildings like; metropolis, statesman + connaught, have remained pretty solid, generally about $13,000m2 for renovated rooms
^ was wanting $589,000 in Jul2018, now $555,000
cheaper rental boxes like zest, aura + volt have dropped in some cases, often under $10,000/m2 depending on aspect + condition
a few buildings opened last year, queens residences, queens square, park residences, connect
and a few more will in the years to come
but at around $15,000/m2 they are not especially good investments with poor returns, who wants to pay $500pw for a single room
and low capital growth prospects due to the inability of most kiwis to service the mortgage on what the council consider the lowest spec they'll allow
so the market is partially stalled
Last edited by eri; 03-02-2019, 03:57 PM.have you defeated them?
your demonsComment
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it must be pointed out though
that aarron tunstal of impression is in possession of far better data and says
AUCKLAND APARTMENT VALUES UP
The average asking price on Auckland apartments was up 9.1% between December 2017 and December 2018. This is in sharp contrast to larger five-bedroom-plus homes, which dipped 7% in the same period. Overall, the Auckland market was rock steady at a 0.1% gain in asking prices.have you defeated them?
your demonsComment
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Are asking prices the same as selling prices?
Do selling prices match up with the asking prices of a few months earlier?Comment
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not sure anyone has that data in any quantity
my own small slice
seems the same as usual
ie about -5% selling from askinghave you defeated them?
your demonsComment
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For my sins I am on a couple of real estate agents mailing lists. One of them includes a table, maybe 30 items, showing asking and selling prices for each item. So maybe ask your friendly REA.Originally posted by Bob Kane View Post
On a macro level and by broad location, Trademe reports asking prices in their monthly analysis, and REINZ reports actual median sale prices. Not apples and apples but a useful comparison.Could for example compare asking price for September with actual for December.
Trademe report for December-
property.trademe.co.nz/market-insights/property-price-index/provinces-end-2018-with-a-bang/
REINZ median prices up to December.
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