Property costs in NZ - the heart of evil

[Ocean1]

One listens to the young-uns in horror sometimes.

I've had rather a lot more exposure to gen Y over the last year or two. Before that the only regular contact in any detail had been with friends of the family, and that usually in somewhat sheltered environments. One shouldn't generalise, of course, and I’m aware of the generational, almost default dislike of one’s children’s efforts as compared with one’s own.

Even allowing for that, however, admitting that one wasn’t perhaps quite the paragon of virtue in one’s youth that one’s memory insists, there’s a distinct generational difference. They have a hard wired concept of what represents life at the turn of the century. It involves vehicles, iphones, reasonable digs, certain levels of toy ownership. It also involves a certain hourly rate, a moderately relaxed work environment and no overtime. Also, what seems almost completely universal for that group: no concept of any link between one and the other.

This, I’m led to believe is what used to be called a work/life balance, and is now more fashionably referred to as a work/life blend.

God help us.

[mstriumph]

generation Y..... the aliens have landed


(oh no - wait a moment - isn't that what 'they' used to say about - erm - us?)

Happy New Year everyone!

[blue rider]

As long as people only want to live in high price areas like Auckland then they can't complain about the cost of housing. There are still plenty of properties available in other parts of the coutry at less than half that Auckland price.

cheap house prices are only good if you have a job, without a job, the cheapest house price is un-affordable.


the problem is that Auckland suffers from over population. if someone wants/needs a job, they will look at Auckland, cause every where else there are none, or not enough to accommodate Aucklander's moving in.



.

[Jantar]

cheap house prices are only good if you have a job, without a job, the cheapest house price is un-affordable.


the problem is that Auckland suffers from over population. if someone wants/needs a job, they will look at Auckland, cause every where else there are none, or not enough to accommodate Aucklander's moving in.



.

If the cheapest house prices are unaffordable without a job, then how come there are so many unemployed in Auckland where the house prices are the highest?

I don't understand why they would want to move to an area with a greater proportion of unemployment when there are plenty of jobs outside of Auckland. Of course I'm not saying that there are enough jobs around the rest of the country to employ all those in Auckland who are looking, but there are still enough jobs available to encourage people to open their eyes.

One job vacancy we had down here recently (paying over $100k) didn't attract a single applicant from Auckland and a guy from Twizel the successfull applicant.

Another IT position was filled by someone from Dunedin, again there were no Auckland applicants.

[Brian d marge]

nice thread dredge

just read through it

things changed , once in 71 , again in the eighties. The NZ you remember has changed,

YES we have moved into a more consumerist society, Possibly due to the freeing up of credit , ( remember banks actually WANT you to borrow money , its what they do !)

Student loans . Im guessing most people on KB are in the over 40s bracket and never had a student loan

anywhere from 20 to 100k before you even start life.

Now add a perfectly reasonable expectation of ROI, I have invested X and it seems reasonable to get a return of Y on my investment .

and remember a lot of these investors may not be from NZ , possibly from England ( for example ) taking advantage of the exchange rates , and why not ....

So we end up in a situation of NEEDING 2 incomes to service one mortgage, ( reasonable to say this in the norm?) . Working back from the 30% of income as a marker for mortgage stress, and which suburb do we end up in ?

say 600 per week actual take home? ...thats 200 a week .....( thats a pretty reasonable Job ?)

but to return to the original post , the question was raised "IF we didnt have to spend so much money on the house , would this free up cash for others things "?

the short answer is yes , as A young man I know in NZ bought a house , in a shitty area , big old cold villa ,,, has nearly paid it off , pays around 100 a week for mortgage ( 2 younguns ) and yes has quite a bit of disposable cash for his cars , all spent locally !

Me , I buggered off , have a box in Tokyo, a car, a few bikes and a massive hangover ( the debt repayment on that one could cripple ) and while the work has crept up to 6 days a week ( I will reduce this ),it certainly isnt stressful ( the wife is the main source of me stress ! , keeps saying stupid things like I must stop drinking and sell some of me bikes ! )

Finally is a house a " house " or is it a "home "

Stephen

[scumdog]

That and the student loan thing and the insistence that women have to have a career at the expense of family.

One listens to the young-uns in horror sometimes.

Not ALL youn'uns have a student loan hanging over their head - and not ALL women are career focussed.

But I concur with the last statement.

[BoristheBiter]

If the cheapest house prices are unaffordable without a job, then how come there are so many unemployed in Auckland where the house prices are the highest?

I don't understand why they would want to move to an area with a greater proportion of unemployment when there are plenty of jobs outside of Auckland. Of course I'm not saying that there are enough jobs around the rest of the country to employ all those in Auckland who are looking, but there are still enough jobs available to encourage people to open their eyes.

One job vacancy we had down here recently (paying over $100k) didn't attract a single applicant from Auckland and a guy from Twizel the successfull applicant.

Another IT position was filled by someone from Dunedin, again there were no Auckland applicants.

Maybe they get paid more up here?
Or they just don't want the cold of winter.

[davereid]

If the cheapest house prices are unaffordable without a job, then how come there are so many unemployed in Auckland where the house prices are the highest?

I don't understand why they would want to move to an area with a greater proportion of unemployment when there are plenty of jobs outside of Auckland. Of course I'm not saying that there are enough jobs around the rest of the country to employ all those in Auckland who are looking, but there are still enough jobs available to encourage people to open their eyes.

One job vacancy we had down here recently (paying over $100k) didn't attract a single applicant from Auckland and a guy from Twizel the successfull applicant.

Another IT position was filled by someone from Dunedin, again there were no Auckland applicants.

Yes, its rubbish.

Southland has under 4% unemployment, and some of the most affordable housing in the country.

I just laugh my head off every time an Aucklander tells me he

(a) is the economic powerhouse of NZ.
(b) that housing is too expensive.


Because Taranaki makes more money than Auckland. And so does Manawatu.

And a nice home is $200k.

[BoristheBiter]

Yes, its rubbish.

Southland has under 4% unemployment, and some of the most affordable housing in the country.

I just laugh my head off every time an Aucklander tells me he

(a) is the economic powerhouse of NZ.
(b) that housing is too expensive.


Because Taranaki makes more money than Auckland. And so does Manawatu.

And a nice home is $200k.

Might be true but no one wants to live there.

[davereid]

Maybe they get paid more up here?

In terms of incomes the highest pay region is Wellington. Auckland is second, if measured as a city, but about 4th as measured as a region, although google has let me down I can't put my hand on the regional stats just now.

[BMWST?]

10 char

http://www.chranz.co.nz/pdfs/rbnz-tr...use-prices.pdf

[tri boy]

Finally is a house a " house " or is it a "home "

Stephen

My view is thus,
A house is a house when your not fully settled inside yourself, and your life.
A house is a home when you are.

[davereid]

Might be true but no one wants to live there.

Yeah its strange. Most people who say they don't want to live in the south quote climate as reason.

But I think Auckland has the worst climate in NZ.

Scumdog has the nicest, every spring they get to do a proper blossom festival, as they get a proper winter, proper spring, proper summer and beautiful autumn.

Kiwis race to an air-conditioner in surfers before they even check out the beautiful south.

Its got me fucked to be honest.

[scumdog]

Might be true but no one wants to live there.

And long may it stay like that - we don't need certain 'perks' such as Auckland has...

[vifferman]

But I think Auckland has the worst climate in NZ.

Yeah it pretty much suxses.

Scumdog has the nicest, every spring they get to do a proper blossom festival, as they get a proper winter, proper spring, proper summer and beautiful autumn.

I love Otago - every time I visit there it's like some kinda spiritual homecoming. But (however) I need to work at the moment.