F-U Auckland house prices

[TheDemonLord]

Bloody good work that man. Now PAY a mechanic to check your bike out properlly

No need - see other thread, She be fixed.

And anyway - Can't afford a Mechanic - I'm paying an Auckland Mortgage!

(although if you are interested, in 2-3 weeks, she is going in for her 48,000 Km service so will get an expert eye to look over her then)

[HenryDorsetCase]

I was in a meeting today with a valuer, and he was saying that the AVERAGE Auckland mortgage (presumably the mean) is $600k.

bugger that.

[Shaun Harris]

No need - see other thread, She be fixed.

And anyway - Can't afford a Mechanic - I'm paying an Auckland Mortgage!

(although if you are interested, in 2-3 weeks, she is going in for her 48,000 Km service so will get an expert eye to look over her then)

And I asked in that thread what you did about the faulty dangerous wheel bearing man? 2-3 weeks may be to long for your life to last man, if that rear wheel locks up, you are gunna be very very hurt, and maybe others also!

[Shaun Harris]

I was in a meeting today with a valuer, and he was saying that the AVERAGE Auckland mortgage (presumably the mean) is $600k.

bugger that.

It is a SHIT hole of a city any way

[jasonu]

Ho hum, 26 posts in and nobody is blaming Asians/ Chinese

I blamed them but my wife told me not to be racist...

[jasonu]

I don't completely understand dissatisfaction, current laws/migration system of NZ tends to concentrate people in 1-3 cities of NZ:

I came to NZ (to live) 2 and something years ago (not from China, please, don't kill me).
And according to my occupation(specific engineer) I can find work in Wellington or Auckland only.
And if you look at the shortage skills occupations and match them with opened vacancies simultaneously, you might find that migrant will mostly concentrate in Wellington or Auckland.
+ Standard local concentration because of the modern service oriented economy.
And voila.

And moreover, I don't see any sign that government wishes to change it. Otherwise we would already have specific zones like Silicon Valley for IT, Las Vegas for casino or similar, government doesn't fight for transparency of the job market, so on. And government should be a reflection of what we vote for. So here it is. And shortage of living place in Auckland won't disappear so quickly from now, even if a huge development starts tomorrow.

You are dead right mate. The bad thing is that most NZers that have not ventured overseas for more than a couple of weeks don't see it coming.

[Fastmark]

When we came here in 2009 we choose to live on the Whangaparaoa Peninsula because my wife's cousin lived there, good contact since we knew no-one else in NZ.
My job takes me all over the north island so wifey was home with the kids, hence the local contact.

My story is probably very similar to many who have come to NZ, you tend to stick close to what you know be it family (no matter how distant) or settling into an area that has similar folks, i.e. Brits/Boks/etc.

However I agree with the title of this cause I am sick of hearing about house prices in Auckland. Unless you are selling, have more money than you know what to do with who gives a shit. The fact that my house may be worth more today than 12 months ago is immaterial, I am not moving so don't care.
So for fuck sake Herald stop going on about it.

Once the last offspring has fled the nest in about 5 years we will sell up and bugger off north and never have to go into Auckland again.
In the meantime I will put up with it, I wont complain because I choose to live where I do and smile to myself when I am out and about in the rest of the North Island knowing I will be out of the rat race in the near(ish) future

[Swoop]

... dealing with the Chinese.
Id forgotten what a pack of lying opportunist thieves they were...

This is the crux behind their latest "stock market" adjustment.

Backhander capital of the world.

[Shaun Harris]

When we came here in 2009 we choose to live on the Whangaparaoa Peninsula because my wife's cousin lived there, good contact since we knew no-one else in NZ.
My job takes me all over the north island so wifey was home with the kids, hence the local contact.

My story is probably very similar to many who have come to NZ, you tend to stick close to what you know be it family (no matter how distant) or settling into an area that has similar folks, i.e. Brits/Boks/etc.

However I agree with the title of this cause I am sick of hearing about house prices in Auckland. Unless you are selling, have more money than you know what to do with who gives a shit. The fact that my house may be worth more today than 12 months ago is immaterial, I am not moving so don't care.
So for fuck sake Herald stop going on about it.

Once the last offspring has fled the nest in about 5 years we will sell up and bugger off north and never have to go into Auckland again.
In the meantime I will put up with it, I wont complain because I choose to live where I do and smile to myself when I am out and about in the rest of the North Island knowing I will be out of the rat race in the near(ish) future

I do not quite understand that completely. You Moved here in 09 and purchased your own house, Bloody good on ya. But the real estate issues did not really start untill about 3 years ago that the media and others starting paying attn too. So now the housr prices have got as BULLSHIT false economy over inflated, a Young TRUE FULL blooded KIWI cannot buy a House in there OWN town?? Again, due to the goverments false economy bullshit, by allowing all the asians in there to buy every thing up. to get the rest of there family out of there own country, That is a real negative of what is going on, I applaud people making money if done fair and write, but this is just a false economy that has FUCKED young kiwi;s future in that shit hole city. Haha, I will prob be working up there in a few months from now though, but only fly in fly out work, and maybe spending 3 nights a week up there.

[neels]

I was in a meeting today with a valuer, and he was saying that the AVERAGE Auckland mortgage (presumably the mean) is $600k.

bugger that.

At first read I thought that didn't sound too bad.Then I read it proper and realised mortgage, not house, at which point I agree, bugger that.

Unfortunately the speculation aspect of this is not going to go away while the cost of borrowing money is considerably less than the increase in capital value, and those making money out of it will perpetuate this for as long as they can. They probably already have somewhere to live and have no intention of actually paying for the house, so it's just a percentage and profit game

[TheDemonLord]

I do not quite understand that completely. You Moved here in 09 and purchased your own house, Bloody good on ya. But the real estate issues did not really start untill about 3 years ago that the media and others starting paying attn too. So now the housr prices have got as BULLSHIT false economy over inflated, a Young TRUE FULL blooded KIWI cannot buy a House in there OWN town?? Again, due to the goverments false economy bullshit, by allowing all the asians in there to buy every thing up. to get the rest of there family out of there own country, That is a real negative of what is going on, I applaud people making money if done fair and write, but this is just a false economy that has FUCKED young kiwi;s future in that shit hole city. Haha, I will prob be working up there in a few months from now though, but only fly in fly out work, and maybe spending 3 nights a week up there.

In the nicest possible - don't presume to speak for Young Kiwis* - because it is doable, as proof - I did it.

This is what I don't understand - I had a choice to afford a shoebox on the North Shore, or I could move to a different area that I could afford. I had a choice between driving to work or using it as an excuse to get a Bike. I had a choice to forgo some of the luxuries that I had grown accustomed to, for the privilege of owning my own house.

What I see - is first time home buyers who want to live in areas they can't afford (because they are nice) in houses they can't afford (because they want the Quarter acre dream, like mum and dads house) who don't want to make sacrifices in order to be a home owner.

Those of my Friends who own their own houses also had to make sacrifices and tough choices, the ones who don't want make sacrifices or touch choices, are still paying rent (and by extension, someone else's mortgage)

Again - I did it, I had to be creative with the Deposit (I had none - but there are ways round that if you use your brain and ignore the media hype-train) The problem as I see it, is that there is a generation that believes home ownership is a right and so should be handed to them (it isn't, its a privilege you have to work for) and instead of working around some of the problems, they through their hands up in the air and jump on Social Media to bitch about how impossible it is to do.

*(okay I wasn't born here, but I moved here when I was 14 and have lived equal time in here and the UK - Deal)

[5ive]

Dat Humblebrag, taking on the role of speaker.

When did you buy the 'house', how big, and whose money/equity did you use?

[nelubian]

At first read I thought that didn't sound too bad.Then I read it proper and realised mortgage, not house, at which point I agree, bugger that.

Unfortunately the speculation aspect of this is not going to go away while the cost of borrowing money is considerably less than the increase in capital value, and those making money out of it will perpetuate this for as long as they can. They probably already have somewhere to live and have no intention of actually paying for the house, so it's just a percentage and profit game

I've got a proposal for a working part of the NZ population: Lets rise inflation like hell to reduce dept(mortgage). It kills savings of the older generation and makes unprotected layer even poorer, but somebody has to pay for this

PS: Capitalism is a cruel game

[TheDemonLord]

Dat Humblebrag, taking on the role of speaker.

When did you buy the 'house', how big, and whose money/equity did you use?

2 years ago (right when they were changing the lending requirements) - its a 4 Bedroom house in Gulf Harbour - we got a Guarantor on the deposit - so no money changed hands (which is still possible)

We could have moved closer, but we would either have to drop a Bedroom or pay more.

[Shaun Harris]

In the nicest possible - don't presume to speak for Young Kiwis* - because it is doable, as proof - I did it.

This is what I don't understand - I had a choice to afford a shoebox on the North Shore, or I could move to a different area that I could afford. I had a choice between driving to work or using it as an excuse to get a Bike. I had a choice to forgo some of the luxuries that I had grown accustomed to, for the privilege of owning my own house.

What I see - is first time home buyers who want to live in areas they can't afford (because they are nice) in houses they can't afford (because they want the Quarter acre dream, like mum and dads house) who don't want to make sacrifices in order to be a home owner.

Those of my Friends who own their own houses also had to make sacrifices and tough choices, the ones who don't want make sacrifices or touch choices, are still paying rent (and by extension, someone else's mortgage)

Again - I did it, I had to be creative with the Deposit (I had none - but there are ways round that if you use your brain and ignore the media hype-train) The problem as I see it, is that there is a generation that believes home ownership is a right and so should be handed to them (it isn't, its a privilege you have to work for) and instead of working around some of the problems, they through their hands up in the air and jump on Social Media to bitch about how impossible it is to do.

*(okay I wasn't born here, but I moved here when I was 14 and have lived equal time in here and the UK - Deal)

Well explained dude. I am a little slow. I here ya now clearly.