House in Auckland. Now far too expensive to even consider.
Ah but it always is. In 5 years from now you'll say my god, the prices then compared with now......
Yes, they did go mad, but then now is always good.
If you can, and not be so picky.
That's the truth. My parents bought the house I grew up in in 1970 for GBP14,000 (an average house at the time was about GBP5,500). Dad said it was a real pain servicing the mortgage back then but he knew the location couldn't fail in the long term.
Average house prices increased by a factor of 43 times over that period...!
Back then many families only had a single income, and the wife could afford to stay at home to look after the children and do the house work etc. AS a result house prices were based around a single income earner. These days prices are based on two income households and low interest rates.
That doesn't really affect whether they will increase in value, merely the starting point. Also, it's not solely correct to say that the wife could afford to stay at home and look after the children whereas today that isn't true - I know wives that do that whose husbands are doing normal middle management jobs - but the fact they do not is at least as much due to the fact that women have been encouraged by feminism etc etc to go to work instead of staying at home. The effects of that on society (positive and negative) is a whole other discussion!