Property costs in NZ - the heart of evil

[JimO]

Add to that the fact that you can buy a house in Southland outright for the same price as the deposit on a house in Auckland, and it isn't house prices that are causing the issue, its the blinkers that Aucklanders are wearing that stops them looking south of the Bombay Hills.

i just bought a 4 bedroom brick house with a recently new roof on a 700m2 flat section in a good suberb in DN for 210k as a renter, all it needed was the filth of the last tenant scrubbed out and over time a tidy up, that wouldnt be a deposit for a slum in the worst part of Auckland

[Indiana_Jones]

i just bought a 4 bedroom brick house with a recently new roof on a 700m2 flat section in a good suberb in DN for 210k as a renter, all it needed was the filth of the last tenant scrubbed out and over time a tidy up, that wouldnt be a deposit for a slum in the worst part of Auckland

This is one of the big reasons we moved to Dunners.

Auckland is fucked.

-Indy

[Winston001]

I like Dunedin, was there last weekend, and lived there for 8 years as a student.

Lots of interesting houses in hidden spots you'd never think of.

However in terms of weather and maybe growth, Mosgiel is worth looking at too - only ten minutes further (and that bit closer to Invercargill).

[Ocean1]

However in terms of weather and maybe growth, Mosgiel is worth looking at too - only ten minutes further (and that bit closer to Invercargill).

As long as you stay off the Tairei plains...

[Delerium]

What's preventing you from building the house your grandparents had for roughly the same number of working hrs income they paid?

Building "standards" constraints.

Fashion.

?????

What stopping it is that land and building material costs have increase faster than wages have increased, therefore reduced spending power. Depending on where you live eg auckland, where the land prices are just stupid now, it is worse than other areas.

Fashion? no, I dont think so.

[Indiana_Jones]

I like Dunedin, was there last weekend, and lived there for 8 years as a student.

Lots of interesting houses in hidden spots you'd never think of.

However in terms of weather and maybe growth, Mosgiel is worth looking at too - only ten minutes further (and that bit closer to Invercargill).

Mollywood is on the radar for sure. But isn't an option while we're on one income. Once the kid(s) are at school and the mrs is working again, I'd be quite happy to look at moving there (or Fairfield).

-Indy

[Ocean1]

What stopping it is that land and building material costs have increase faster than wages have increased, therefore reduced spending power. Depending on where you live eg auckland, where the land prices are just stupid now, it is worse than other areas.

Fashion? no, I dont think so.

We've already done that bit, building costs have risen less than house sizes.

So the spending power arguement is bullshit, what I was asking was what caused people to build bigger houses, filled with more toys, borrowing a metric shitload of money in order to do so.

[neels]

We've already dont that bit, building costs have risen less than house sizes.

So the spending power arguement is bullshit, what I was asking was what caused people to build bigger houses, filled with more toys, borrowing a metric shitload of money in order to do so.

The other issue there is that the land being made available is being developed as subdivisions, with the associated covenants to maintain property values etc etc etc, and you're paying a premium for the fancy street lights, big entrance walls with the name of the subdivision and all that other bollocks.

Then when you get to building your house you have a minimum size that you have to build to certain asthetic standards, so the option of building a perfectly liveable 120m house which would probably cost you a bit over $200k doesn't exist.

[Banditbandit]

i just bought a 4 bedroom brick house with a recently new roof on a 700m2 flat section in a good suberb in DN for 210k as a renter,

Faugh .. you can buy a house that you can live in for under $100,000 in Opotiki ..

Here you go .. 3 bedrooms $98.000

http://opotiki.harcourts.co.nz/Prope...ichard-Street-

[rustyrobot]

Faugh .. you can buy a house that you can live in for under $100,000 in Opotiki ..

Here you go .. 3 bedrooms $98.000

http://opotiki.harcourts.co.nz/Prope...ichard-Street-

Now you're just being a tease. I don't think you could buy a garage in Wellington for that money.

There's faugh all work in Opotiki though - and there's the rub.

Update: Sorry, I stand corrected, while not quite a garage, you can get this carpark for a mere $70k

[Banditbandit]

That's why I left Wellington - fucking commercial rat race ..

And if you sell up in Wellington and pay cash for this place, why work? Plenty of fishing and other ways to get food - and with no mortgage life is sweet ..

[mashman]

That's why I left Wellington - fucking commercial rat race ..

And if you sell up in Wellington and pay cash for this place, why work? Plenty of fishing and other ways to get food - and with no mortgage life is sweet ..

Oh so tempting, oh so very very very tempting.

[Ocean1]

The other issue there is that the land being made available is being developed as subdivisions, with the associated covenants to maintain property values etc etc etc, and you're paying a premium for the fancy street lights, big entrance walls with the name of the subdivision and all that other bollocks.

Then when you get to building your house you have a minimum size that you have to build to certain asthetic standards, so the option of building a perfectly liveable 120m house which would probably cost you a bit over $200k doesn't exist.

Aye. So building standards compliance costs, territorial authority compliance costs AND fashion compliance costs, all responsible for a substaitial part of these silly prices, particularly in the big cities. Parasitic, for the most part, the lot of them, along with materials monopolies the CC apparently has little intent to control. Remove the mechanism that requires the market to deal exclusively with any of them, on their own non-negotiable terms and watch housing costs plummet.

[Brian d marge]

That's why I left Wellington - fucking commercial rat race ..

And if you sell up in Wellington and pay cash for this place, why work? Plenty of fishing and other ways to get food - and with no mortgage life is sweet ..

Tell me about it , Just need the fishing and a bigger garden ....

Stephen

[mashman]

Tell me about it , Just need the fishing and a bigger garden ....

Stephen

We only need 5 or six of us