Real estate, post COVID-19 level 4 (since 2020)

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Mad Scientist
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#2956962 20-Aug-2022 14:03

Senecio:

Batman:

but in the last 2.5 years house prices have almost doubled....

Show me a house that has doubled in the last 2.5 yrs?

quite a few in Dunedin that's almost doubled at the peak (but Dunedin seems to be now dropping)

was following this, bathroom added, i think a coat of paint

Recently sold | 40 Cannington Road, Maori Hill, Dunedin - homes.co.nz

Prime Location. Dream Home. - 40 Cannington Road, Maori Hill | Otago Realty Group Ltd (bayleys.co.nz)

Batman

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#2956963 20-Aug-2022 14:04

also Wanaka but I haven't been following

https://www.odt.co.nz/regions/wanaka/market-still-strong-wanaka-home-sells-2m-plus

Batman

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#2956965 20-Aug-2022 14:12

https://www.qv.co.nz/price-index/

Gisborne - Oct 19 - March 22

Lower quartile 200k -> 400k

Upper quartile 600k -> 1.1m

Batman

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#2956967 20-Aug-2022 14:15

https://www.qv.co.nz/price-index/

West Coast - Buller District

200k Oct 2019 -> 370k 2022

tdgeek

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#2957035 20-Aug-2022 17:25

So all houses have doubled?? Nar. How many houses that were crap were reno'ed , the doubled? Not the same thing. But cherry picking houses that were not desired, then were desired is not "all houses"

compound

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#2957042 20-Aug-2022 18:09

The house to one side of us has gone from 325k to 630k from 2019 to now with no upgrades. The other side is 370k to 670k again with no upgrades. Maybe 1950's 2 and 3 bedroom houses are more desirable now or maybe land is a hot commodity here.

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Batman

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#2957059 20-Aug-2022 19:39

tdgeek:

So all houses have doubled?? Nar. How many houses that were crap were reno'ed , the doubled? Not the same thing. But cherry picking houses that were not desired, then were desired is not "all houses"

you are the first person on this thread that have said all houses have doubled

tdgeek

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#2957195 21-Aug-2022 08:42

Batman:

tdgeek:

So all houses have doubled?? Nar. How many houses that were crap were reno'ed , the doubled? Not the same thing. But cherry picking houses that were not desired, then were desired is not "all houses"

you are the first person on this thread that have said all houses have doubled

No, just quoting you

"but in the last 2.5 years house prices have almost doubled"

quickymart

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#2958754 24-Aug-2022 13:19

https://www.nzherald.co.nz/business/nz-will-have-a-housing-surplus-in-12-months-kiwibank/6ABPUEGRN4I4ZTVYDST2B7MTCI/ (paywalled)
This will be nice, if it actually comes to pass. Then it will just be a case of waiting for house prices to drop to something sensible.

wellygary

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#2958760 24-Aug-2022 13:37

quickymart:

https://www.nzherald.co.nz/business/nz-will-have-a-housing-surplus-in-12-months-kiwibank/6ABPUEGRN4I4ZTVYDST2B7MTCI/ (paywalled)
This will be nice, if it actually comes to pass. Then it will just be a case of waiting for house prices to drop to something sensible.

If it happens, I think its likely to be rather brief and likely localised in places like Auckland,

The Govt just authorised another 12.000 working holiday positions for next year, plus allowed those here to stay longer, The migration tap is not going to stay closed for long,

And while short term working visa holders can't buy property, they still need a roof over their heads and will start to add to the rental pressure,

The 20% increase in construction costs + shortage and higher mortgage rates will also scare off new builds for a while.. so the pipeline will start to thin out by mid 2022 ( all other things being equal... but they never are)

quickymart

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#2958784 24-Aug-2022 14:16

Mid-2022? Aren't we past that point already?

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wellygary

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#2958805 24-Aug-2022 14:54

quickymart:

Mid-2022? Aren't we past that point already?

Doh, how time flies, :). mind said 2023 , fingers typed otherwise

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#2959415 25-Aug-2022 17:41

Interesting video about "buy to leave" real estate.

Note it has an sponsored ad about investing in art, which is annoying

Why A Quarter Of Paris Is Empty

OBF

quickymart

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#2963707 5-Sep-2022 21:13

Now this how housing should be done:

https://www.nzherald.co.nz/business/new-affordable-housing-option-in-queenstown-starting-at-less-than-300000/X4ZLZWIEUL4H2KYO54UL4CIVIM/

Maybe I should move to Queenstown.

Handle9

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#2963710 5-Sep-2022 21:17

quickymart:
Now this how housing should be done:

https://www.nzherald.co.nz/business/new-affordable-housing-option-in-queenstown-starting-at-less-than-300000/X4ZLZWIEUL4H2KYO54UL4CIVIM/

Maybe I should move to Queenstown.

Notice how they didn’t mention the price of the land?

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