Property costs in NZ - the heart of evil

[Indiana_Jones]

So any chance of a crash soon?

-Indy

[mashman]

So any chance of a crash soon?

-Indy

I hope so.

[avgas]

Average house price in Auckland being $500K doesnt really add up to an affordable mortgage. Can´t go on climbing at this rate forever.

I always love this statistic.
Has anyone here paid $500K+ for a house? I didn't. I live 10min from work and 20min from CBD.

Not saying House prices are cheap in Auckland. But when I look at people earning $50K in NY, buying a $6-700K house, or Tokyo 80M yen apartment...........can't be that bad here.

You just have to be a bit committed is all. Sell your bike, get a haircut and get a real job.....

[Ocean1]

Not saying House prices are cheap in Auckland. But when I look at people earning $50K in NY, buying a $6-700K house, or Tokyo 80M yen apartment...........can't be that bad here.

You just have to be a bit committed is all. Sell your bike, get a haircut and get a real job.....

I think you're largely right. That, and the expectation of what your parents would call a mansion for a first house.

Although there's been some unnecessary increases in building standards compliance, and there’s still a couple of building materials monopolies that need squashing asap.

[Delerium]

I think you're largely right. That, and the expectation of what your parents would call a mansion for a first house.

Although there's been some unnecessary increases in building standards compliance, and there’s still a couple of building materials monopolies that need squashing asap.

lol wut?
a 3 bedroom house in avondale isnt a mansion. That'll cost 500k now. No correction, that wil be LISTED at 500k, and when I go to view I see audi's, bmw's, and mercs pulling up with property speculators from china and hong kong. I dont have any flash toys, and im squeezed out of the market. Im not going to buy a 300k house in manukau and then lose the difference in price through time and cost of commuting to town.

[Indiana_Jones]

Well I've solved the issue of Auckland house prices for myself, I'm leaving.

-Indy

[HenryDorsetCase]

lol wut?
a 3 bedroom house in avondale isnt a mansion. That'll cost 500k now. No correction, that wil be LISTED at 500k, and when I go to view I see audi's, bmw's, and mercs pulling up with property speculators from china and hong kong. I dont have any flash toys, and im squeezed out of the market. Im not going to buy a 300k house in manukau and then lose the difference in price through time and cost of commuting to town.

your problem, son, is you live in orklind.

[Ocean1]

lol wut?
a 3 bedroom house in avondale isnt a mansion. That'll cost 500k now. No correction, that wil be LISTED at 500k, and when I go to view I see audi's, bmw's, and mercs pulling up with property speculators from china and hong kong. I dont have any flash toys, and im squeezed out of the market. Im not going to buy a 300k house in manukau and then lose the difference in price through time and cost of commuting to town.

Your choice. I was simply pointing out that by international large city standards you've not got it so bad.

Once a city gets over a critical threshold in size they become massively cost inefficient to live in. The solution's pretty obvious.

[mashman]

[Brian d marge]

Your choice. I was simply pointing out that by international large city standards you've not got it so bad.

Once a city gets over a critical threshold in size they become massively cost inefficient to live in. The solution's pretty obvious.

I live in Tokyo

I have a 3 bedroom town house

a little bit of a garden and a Car port and a 10m square office/workshop

15million yen total over 40 yrs

hows that compare!

stephen

[mashman]

I live in Tokyo

I have a 3 bedroom town house

a little bit of a garden and a Car port and a 10m square office/workshop

15million yen total over 40 yrs

hows that compare!

stephen

Nice, I'll take 2.

[Ocean1]

I live in Tokyo

I have a 3 bedroom town house

a little bit of a garden and a Car port and a 10m square office/workshop

15million yen total over 40 yrs

hows that compare!

stephen

No idea, I don't live anywhere near a city.

I'd struggle with the workshop size. 'Er indoors reckons I need to get rid of some stuff, but there's not a single item in those garages that isn't absolutely vital to civilisation as we know it.

[Indiana_Jones]

-Indy

[unstuck]

[Naki Rat]

I always love this statistic.
Has anyone here paid $500K+ for a house? I didn't. I live 10min from work and 20min from CBD.

Not saying House prices are cheap in Auckland. But when I look at people earning $50K in NY, buying a $6-700K house, or Tokyo 80M yen apartment...........can't be that bad here.

You just have to be a bit committed is all. Sell your bike, get a haircut and get a real job.....

Don't know if it's been mentioned, and I can't be arsed checking back, but how much are New Zealand's real estate prices now being influenced by the internationalisation of the market? Immigrant buyers, expats returning with their overseas earned funds and New Zealand residents with offshore income streams all serve to highlight the real problem; our average domestic income is low by international standards, which by contrast makes our housing costs seem high to those of us living in a New Zealand 'bubble'.