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Mad Scientist
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  Reply # 2086179 8-Sep-2018 19:17
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Dunedin housing is horrible. Old villas with no insulation. Christchurch house are all brand new. Same price now. (Nearly).



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  Reply # 2086281 8-Sep-2018 22:25
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Christchurch could be an option, as could Nelson now I think about it. I even looked at Blenheim a few years ago but I don't think the job market there in IT would be that great...


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  Reply # 2086348 9-Sep-2018 09:21
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peetter:

mudguard:


peetter:


But if it is the only thing that you needed to point out from my post, I think you focus on the wrong thing. Even with minimum wage I did the math and would be able to save 5k/year. Not that I would stay on minimum wage any longer than a year...



 


And saving is something we should do. However saving $5k a year is not going to buy you a house. Even saving $30k a year will mean more than five years of saving to get into a median priced Auckland home. I realise that first home buyers aren't going to be a looking at the median, but do you want to spend $400k on a one bedroom apartment in the city? With potential ground rent increases and body corporate fees?


Obviously someone on minimum wage is not necessarily your usual homeowner, and I don't think anyone expects it to be. It is simply that wages haven't kept pace with the rising prices. 



 


It is 5-6 years for single person. That seems okay to me. Look I agree it is not cheap here, but definitely not something impossible. All it takes is work on yourself and sacrifice a little to gain a lot. This is still a first world, what is considered poor here is filthy rich in like 70% of world. When somebody is talking about starving children in NZ, they mean the child not having 3-5 meals a day, not a child having a meal one in 3 days.



The real problem is that in “5-6 years” the houses will also have gone up by a large percentage too.

I’m in the ‘far south’ of Auckland (between Pukekohe and Pokeno) and my own house now ‘cost’ (GV) nearly 15% more than only 2 years ago, and most of the increase is the land itself (which is now ‘worth’ 50% more than I paid 3 years ago!

“Outsaving” the housing market seems a particularly difficult proposition in the Auckland region

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  Reply # 2086350 9-Sep-2018 09:22
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quickymart:

Christchurch could be an option, as could Nelson now I think about it. I even looked at Blenheim a few years ago but I don't think the job market there in IT would be that great...



Nelson is beautiful, but housing there is actually quite expensive relative to incomes. Financially speaking Christchurch would be better.

You may find this article useful.



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  Reply # 2086376 9-Sep-2018 11:31
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Thanks, I hadn't actually thought about Palmerston North either. Worth a look :)

Having said all that (and thanks everyone for the replies) I'm in the market for a 2-3 bedroom rental (preferably 3) around Beach Haven/Birkdale/Birkenhead on the North Shore currently. If you know of anything going (other than Tradesmen etc) please message me.

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  Reply # 2086388 9-Sep-2018 12:28
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I mean don't discount Dunedin, there are good houses but the majority is damp and cold. We have gigatown status.

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  Reply # 2086511 9-Sep-2018 16:49
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Batman: Dunedin housing is horrible. Old villas with no insulation. Christchurch house are all brand new. Same price now. (Nearly).


 


New houses though often don't have character. Old houses can be done up and insulated, as long as they are in good condition and haven't been neglected. But it can need work, and many people don't want to be bothered these days, plus all the complaince etc can be a nightmare. Many of the new ones are only built to the minimum spec, and may have tiny sections.


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  Reply # 2087017 10-Sep-2018 16:03
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quickymart:

 

I even looked at Blenheim a few years ago but I don't think the job market there in IT would be that great...

 

 

Housing in Blenheim is limited at the moment, despite a lot of development over the last 10 years.

 

There would probably be in-house IT jobs with a few of the bigger employers - hospital, council, wineries etc.  But there isn't any semblance of an IT industry there.





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  Reply # 2087547 11-Sep-2018 14:49
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quickymart: Thanks, I hadn't actually thought about Palmerston North either. Worth a look :)

Having said all that (and thanks everyone for the replies) I'm in the market for a 2-3 bedroom rental (preferably 3) around Beach Haven/Birkdale/Birkenhead on the North Shore currently. If you know of anything going (other than Tradesmen etc) please message me.

 

 

 

If you are looking at that type of place, Masterton house prices don't seem too bad...compared to much of the Wellington region.


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  Reply # 2087624 11-Sep-2018 15:39
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mattwnz:

 

quickymart: Thanks, I hadn't actually thought about Palmerston North either. Worth a look :)

 

 

 

If you are looking at that type of place, Masterton house prices don't seem too bad...compared to much of the Wellington region.

 

 

Or W(h)anganui when we drove through there you could buy very nice houses, very cheap.

 

If one could get fibre and work remotely ...





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  Reply # 2087642 11-Sep-2018 16:00
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MikeAqua:

 

mattwnz:

 

quickymart: Thanks, I hadn't actually thought about Palmerston North either. Worth a look :)

 

 

 

If you are looking at that type of place, Masterton house prices don't seem too bad...compared to much of the Wellington region.

 

 

Or W(h)anganui when we drove through there you could buy very nice houses, very cheap.

 

If one could get fibre and work remotely ...

 

 

Lacks a top quality golf course. How about Taupo, Napier or New Plymouth?

 

For me any bolt hole needs a decent golf course and a decent airport that can get you to the big smoke at least a couple of times a day. In addition it should have either decent water to fish/ski/swim or alternatively a ski field. 

 

Goes without saying in GZ it needs decent broadband preferably fibre.

 

I don't ask for much. Taupo seems to fit the bill for everything.

 

 




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  Reply # 2087659 11-Sep-2018 16:28
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So with Auckland house prices (or house prices in general), are they just going to keep rising forever, or will the eventually plateau and stop, or will they even decrease much? When I look at it from the outside, all of this has really mostly happened over the last 5-10 years, yet I keep hearing talk about "this is all a bubble".'

 

Leads me to ask another question: will my boys ever be able to buy a house when they grow up, or is it a case of they haven't got a hope in hell, if things continue on their current path?


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  Reply # 2087664 11-Sep-2018 16:36
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quickymart:

 

So with Auckland house prices (or house prices in general), are they just going to keep rising forever, or will the eventually plateau and stop, or will they even decrease much? When I look at it from the outside, all of this has really mostly happened over the last 5-10 years, yet I keep hearing talk about "this is all a bubble".'

 

Leads me to ask another question: will my boys ever be able to buy a house when they grow up, or is it a case of they haven't got a hope in hell, if things continue on their current path?

 

 

I think any couple with two median incomes can still make it. Problem is that when you have kids you lose one income at the same time as catching a lot of extra cost. So if you start in your early twenties and don't have kids until your late 30's you're fine. But kids are miles away from settling down in their early twenties these days. 

 

The demise of the Sterling has dented a lot of travelling Kiwi plans too. A few years contracting in the UK used to put a serious dent in your mortgage. When I was there in 2000 it briefly hit NZ$4. Those were the days. Nowdays the pound's half that but the hourly rates are still about the same as they were 15 years ago!

 

 

 

 


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  Reply # 2087674 11-Sep-2018 16:58
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quickymart:

 

So with Auckland house prices (or house prices in general), are they just going to keep rising forever, or will the eventually plateau and stop, or will they even decrease much?

 

Noone can reliably predict the market. If you could, you'd be very rich indeed.

 

When I look at it from the outside, all of this has really mostly happened over the last 5-10 years, yet I keep hearing talk about "this is all a bubble".'

 

The housing crisis has become acute in the last few years, but I think the problem has been bubbling away for 20 years or more. 

 

Leads me to ask another question: will my boys ever be able to buy a house when they grow up, or is it a case of they haven't got a hope in hell, if things continue on their current path?

 

I'd say it'll be tough, but it really depends on what transpires politically and economically over the next couple of decades.


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  Reply # 2087678 11-Sep-2018 17:07
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quickymart:

So with Auckland house prices (or house prices in general), are they just going to keep rising forever, or will the eventually plateau and stop, or will they even decrease much? When I look at it from the outside, all of this has really mostly happened over the last 5-10 years, yet I keep hearing talk about "this is all a bubble".'


Leads me to ask another question: will my boys ever be able to buy a house when they grow up, or is it a case of they haven't got a hope in hell, if things continue on their current path?



Would you like the lotto numbers next? Lol ;) seriously, the time to buy is always now. Have a read of this analysis and look at the graphs to help answer your question.

https://www.nbr.co.nz/opinion/property-price-trends-new-analysis

Over time prices only go one way. There are periods where prices plateau and you get occasional downturns but you should never think you can wait for house prices to fall dramatically. Ain't gona happen.

Reminds me of a real estate agency when I was growing up; they had an image of an old man in the window, walking stick and all, with the words "the young man who waited for prices to come down".

Save hard, sacrifice luxuries and get on the ladder however you can because you're either in the game or you're not. Two incomes are almost essential, especially in the main cities. Have good jobs or be working towards them. Guide your boys into decent careers, e.g trades...that way the have the skills to fix up houses and make profit.

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