New Zealand housing market (particularly Auckland)

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#2082673 2-Sep-2018 10:12

@tdgeek

I didn't say they were doing nothing, They have and so did the last lot. Though to a large extent just window dressing in all cases.

I was commenting on how they think they can fix the problem "overnight". That is stupid or naive. No matter the flavour of the government that is outright impossible. It took us years to get this situation, it will take a long time to fix and there will be many many parts to the fixing puzzle.

For them to champion affordable housing then within a short time announce $600,000 was an affordable house beggars belief. Just like other governments before them, they shifted the goal posts to be able to say they did what they said they were going to.

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#2082680 2-Sep-2018 10:20

Geektastic:

Clearly Kiwis CAN compete, since only 3% of sales were to overseas buyers, that means 97% of sales were to Kiwis.

Rubbish, already explained.

kobiak

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#2082682 2-Sep-2018 10:21

tdgeek:

Id like to see immigrants as not having right to buy, but a right to build only. That would avoid immigration being a cause of reducing housing stock.

that's been done, foreign buyer is banned. but anyone with PR = local. Legislation change for PR status?

parent cetagory is been closed for over 2 yrs now, so you can't blame rich parents for the past 2 yrs. Little to no effect to price rise.

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#2082685 2-Sep-2018 10:23

Technofreak:

@tdgeek

I didn't say they were doing nothing, They have and so did the last lot. Though to a large extent just window dressing in all cases.

I was commenting on how they think they can fix the problem "overnight". That is stupid or naive. No matter the flavour of the government that is outright impossible. It took us years to get this situation, it will take a long time to fix and there will be many many parts to the fixing puzzle.

For them to champion affordable housing then within a short time announce $600,000 was an affordable house beggars belief. Just like other governments before them, they shifted the goal posts to be able to say they did what they said they were going to.

Ive never heard anyone say they will fix it overnight, nor that anyone will fix it. measures are there to help. I even heard once that there is no housing crisis, so nothing to fix apparently.

Yes, 600k is steep. Land seems to be 250k these days, build 300k, so hard to see it much cheaper. A modest home on a small section, maybe under 500k.

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#2082688 2-Sep-2018 10:28

kobiak:

tdgeek:

Id like to see immigrants as not having right to buy, but a right to build only. That would avoid immigration being a cause of reducing housing stock.

that's been done, foreign buyer is banned. but anyone with PR = local. Legislation change for PR status?

parent cetagory is been closed for over 2 yrs now, so you can't blame rich parents for the past 2 yrs. Little to no effect to price rise.

Id say the boom has already been done. For a while now. Those that wanted to buy have bought, the rest cannot afford to, volume is down prices stable. IIRC some other regions are rising still, probably due to migration to lower cost areas. Todays prices are here to stay as sellers will just hang out for the boom prices. When the immigration was announced re house purchases, foreign news went berserk to buy now. Wife showed that to me on TV

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#2082699 2-Sep-2018 10:48

Geektastic:

Clearly Kiwis CAN compete, since only 3% of sales were to overseas buyers, that means 97% of sales were to Kiwis.

That statement helps prove the famous quote "There's lies, there's damn lies and then there's statistics"

Geektastic:I would expect house prices to be triggering a change in career choice at the school leaver end, with low pay blue collar jobs becoming much less attractive.

That assumes there are enough better paying white collar jobs. Unfortunately an ever growing number of white collar jobs don't actually produce anything that creates wealth they are instead a suck or drag on the economy.

Geektastic:House prices are not likely to fall on any permanent basis - they may dip and indeed probably will, as they cyclically do, but I think the chances of a 25% fall in prices are somewhere between zero and SFA.

I'd say closer to zero, unless there is a major financial calamity, other wise a 25% fall will cause a major financial calamity.

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#2082710 2-Sep-2018 11:31

kobiak:

tdgeek:

Id like to see immigrants as not having right to buy, but a right to build only. That would avoid immigration being a cause of reducing housing stock.

that's been done, foreign buyer is banned. but anyone with PR = local. Legislation change for PR status?

parent cetagory is been closed for over 2 yrs now, so you can't blame rich parents for the past 2 yrs. Little to no effect to price rise.

There is a sort of Foreign buyer ban but it means sod all when the main buyers, Australians, are not part of it. They are the biggest buyers of houses in NZ.

Common sense is not as common as you think.

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#2082717 2-Sep-2018 11:53

vexxxboy:

kobiak:

tdgeek:

Id like to see immigrants as not having right to buy, but a right to build only. That would avoid immigration being a cause of reducing housing stock.

that's been done, foreign buyer is banned. but anyone with PR = local. Legislation change for PR status?

parent cetagory is been closed for over 2 yrs now, so you can't blame rich parents for the past 2 yrs. Little to no effect to price rise.

There is a sort of Foreign buyer ban but it means sod all when the main buyers, Australians, are not part of it. They are the biggest buyers of houses in NZ.

Are they? I thought I read it was Asians. Probably a lot less wealthy Australians though, so you could have them on a similar budget to locals.

vexxxboy

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#2082721 2-Sep-2018 12:28

tdgeek:

vexxxboy:

kobiak:

tdgeek:

Id like to see immigrants as not having right to buy, but a right to build only. That would avoid immigration being a cause of reducing housing stock.

that's been done, foreign buyer is banned. but anyone with PR = local. Legislation change for PR status?

parent cetagory is been closed for over 2 yrs now, so you can't blame rich parents for the past 2 yrs. Little to no effect to price rise.

There is a sort of Foreign buyer ban but it means sod all when the main buyers, Australians, are not part of it. They are the biggest buyers of houses in NZ.

Are they? I thought I read it was Asians. Probably a lot less wealthy Australians though, so you could have them on a similar budget to locals.

also Singaporean's are exempt and anyone can buy Apartments still.

Common sense is not as common as you think.

surfisup1000

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#2082734 2-Sep-2018 12:56

kobiak:

everyone is free to move where and when they like.

Umm, no, they are not.

kobiak

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#2082738 2-Sep-2018 13:07

surfisup1000:
kobiak:

everyone is free to move where and when they like.

Umm, no, they are not.

I thought slavery is thing of the past.

Anything changed recently? Or it's common to deny departure from NZ with valid passport?

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#2082741 2-Sep-2018 13:11

kobiak:
surfisup1000:

kobiak:

everyone is free to move where and when they like.

Umm, no, they are not.

I thought slavery is thing of the past.

Anything changed recently? Or it's common to deny departure from NZ with valid passport?

No real need to cheapen this discussion. You know as well as any that there are many reasons why some people cannot, or find it difficult to move where and when they might like to.

kobiak

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#2082743 2-Sep-2018 13:19

tdgeek:
kobiak:
surfisup1000:

kobiak:

everyone is free to move where and when they like.

Umm, no, they are not.

I thought slavery is thing of the past.

Anything changed recently? Or it's common to deny departure from NZ with valid passport?

No real need to cheapen this discussion. You know as well as any that there are many reasons why some people cannot, or find it difficult to move where and when they might like to.

Gee. Alright, passport, visas, "wrong nationally", criminal convictions, money, etc

All change my free roaming to easier roaming than ever before, to keep ppl happier.

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surfisup1000

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#2082744 2-Sep-2018 13:25

Batman: I don't know for sure but i bet you're wrong. I have met so many immigrants everyday.

I suggest you open your eyes and stop blaming the Chinese.

You're very emotional. I'm not 'blaming' anyone. The sun warms up the planet, but I don't 'blame' the sun for doing this. It just does.

Anyone originally from Auckland (such as myself) can the demographic changes which are also backed by statistical data.

There are reasons behind the huge influx of Chinese money into Auckland (and Sydney/Vancouver and other places). As China embraced a more capitalist system and western manufacturing shifted from to china , many chinese people became exceptionally wealthy. But they lived in a heavily polluted country and remained wealthy only by the good grace of politicians.

So, wealthy chinese searched the world looking for places to live or secure their wealth. It happened, I'm not blaming them, I'd have done the same thing in the same position.

I'm just saying the above is one of a number of reasons Auckland house prices rose. I'm not in the blame game.

surfisup1000

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#2082750 2-Sep-2018 13:36

kobiak:

I thought slavery is thing of the past.

Anything changed recently? Or it's common to deny departure from NZ with valid passport?

Your words...

"this is called globalisation. everyone is free to move where and when they like."

You are wrong. All sovereign nations rightly determine who may or may not enter their borders and for how long.

I cannot just go and live in the USA for example.

And, people do get denied departure from NZ. Probably happens every day. The immigration check is not there for fun.

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