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  1. #2361
    Join Date
    Apr 2009
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    968

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    House prices have flattened and has been so for a couple of years now. A CGT will have little impact.

  2. #2362
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    May 2004
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    2,794

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    Quote Originally Posted by DaveW View Post
    House prices have flattened and has been so for a couple of years now. A CGT will have little impact.
    Checked Wellington prices lately? Suspect not. See Trademe's Feb 2019 analysis of listing sale prices on their site, link below. Auckland up only a wee bit in the year, most other locations well up. Listing prices, so not necessarily actual sale prices, but same calculation as Feb 2018 so comparable.

    property.trademe.co.nz/market-insights/property-price-index/wellington-hits-new-record-while-property-prices-cool-in-auckland/

  3. #2363
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    Quote Originally Posted by artemis View Post
    Checked Wellington prices lately? Suspect not. See Trademe's Feb 2019 analysis of listing sale prices on their site, link below. Auckland up only a wee bit in the year, most other locations well up. Listing prices, so not necessarily actual sale prices, but same calculation as Feb 2018 so comparable.

    property.trademe.co.nz/market-insights/property-price-index/wellington-hits-new-record-while-property-prices-cool-in-auckland/
    Those are investors too late in trying to get on the bandwagon. Unless you think all the home buyers have suddenly moved to Wellington?
    Meanwhile in Auckland today at the Bayleys auction the 8 houses attracted zero bids. Zilt. 2 apartments sold, one was at 2016 prices.

  4. #2364
    Join Date
    Sep 2008
    Posts
    7,575

    Default

    ^

    i think the barfoot auctions, (central city?) last week

    had the same result

    sales volume worst since dec 2008, height of the GFC
    Last edited by eri; 31-03-2019 at 05:47 PM.
    have you defeated them?
    your demons

  5. #2365
    Join Date
    Sep 2004
    Location
    Hastings
    Posts
    14,876

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    Quote Originally Posted by DaveW View Post
    Those are investors too late in trying to get on the bandwagon.
    How do you know that?
    Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

  6. #2366
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    Apr 2009
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    968

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    Quote Originally Posted by Perry View Post
    How do you know that?
    Because of the ripple effect.

  7. #2367
    Join Date
    Apr 2009
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    Default

    NZ Centre for Political Research (Muriel Newman)
    March Poll

    https://www.nzcpr.com/the-politics-of-a-capital-gains-tax/

  8. #2368
    Join Date
    May 2004
    Posts
    2,794

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    Quote Originally Posted by DaveW View Post
    Those are investors too late in trying to get on the bandwagon. Unless you think all the home buyers have suddenly moved to Wellington?
    Meanwhile in Auckland today at the Bayleys auction the 8 houses attracted zero bids. Zilt. 2 apartments sold, one was at 2016 prices.
    Official monthly figures for new bank lending to property investors, now about one third of mid 2016 number (as at Feb 2019). Talking up to nearly $2 billion down from 2016. That's a month. And thousands of rentals down a month. Not a lot of new lending to investors then.

  9. #2369
    Join Date
    Apr 2009
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    968

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    Quote Originally Posted by artemis View Post
    Official monthly figures for new bank lending to property investors, now about one third of mid 2016 number (as at Feb 2019). Talking up to nearly $2 billion down from 2016. That's a month. And thousands of rentals down a month. Not a lot of new lending to investors then.
    Reason enough why we don't need a CGT at this time.

  10. #2370
    Join Date
    Sep 2004
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    Hastings
    Posts
    14,876

    Default Follow The Money

    Quote Originally Posted by DaveW View Post
    Reason enough why we don't need a CGT at this time.
    We don't need a CGT at any time.

    Most of it in most cases is inflation.

    That's why comrade commissar Cullen's TWG said there should be no adjustment for inflation.

    That way, the gummint gets real purchasing-power money from the illusory money of changes in numbers, re-badged as capital gains.
    Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!


 

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