NZ houses among least affordable

[Guitana]

Bloody Marvellous!!!!

[elle-f]

we were bloody lucky we bought when we did - about 2 years ago because the houses that have recently sold around us - in the past year - are going for double........we are sitting on a little goldmine!

[Guitana]

Im not on a high wage and never is my partner, I very much we can afford a house at present... even with the 100% loan schemes etc... btw Im not that young either... (not that old but not that young)

I'll tell yah how it goes by the end of the year...

Yeah you and every other middle income earner that's trying to buy into the market! No wonder Kiwi's are fucking off to aussie!!!
I went to an open home in wellington the other day and my wife and I were the only kiwis there, all asian investors buying up the local homes for rentals I overheard one of them say to the realestate weasel that he was looking for three yes three homes and he was a cash buyer!!!Of course the maggot was all over him like a rash!!
Face it guys New Zealand is under new ownership the quarter acre dream is over we'll all have to move to oz with the rest of NZ!!!!!

[Guitana]

we were bloody lucky we bought when we did - about 2 years ago because the houses that have recently sold around us - in the past year - are going for double........we are sitting on a little goldmine!

Sell it and reap the profits then buy back in when the market falls over, how many kiwis do you know that can afford a $300,000- $400,000 dollar mortgage on the shit wages they earn? Probably none and if they could they would have to budget so hard their wallets would bleed every payday!! I know a couple who brought their dream home and had such a big mortgage they had no spare cash to buy any extras they argued all the time over money and within the year their marriage was over!!!
No way to live your life, if every body wakes up and stops paying the horrendous prices being asked for some of the flea pits on the market the prices would drop people are afraid they are gonna miss out and are panic buying fuelling the increase in prices.
Boycot the realestate market and let the prices drop!!
In Wellington $400k gets you a run down three bedroom shit hole that needs $100k spent on it to make it livable you could build one cheaper if you could find a builder but theyre all in fucken aussie enjoying the sun!!!

[The Stranger:Me]

we were bloody lucky we bought when we did - about 2 years ago because the houses that have recently sold around us - in the past year - are going for double........we are sitting on a little goldmine!

Um, hate to burst your bubble, but any increase on your own personal dwelling is just an illusion. What happens when you sell it and go to buy another? That's right, you pay the same amount for the same property in the same area.

For example you pay 300k for a 3 bedroom house in Henderson, you sell it for 400k say 3 yrs later. You go to buy a 3 bedroom house in Henderson - what's it going to cost you? you guessed it 400k, what did you make? squat.

Now there are variations on this theme, but few first home buyers or buyers with a young family can avail themselves of those variations.

As for saying sell up and wait for the bust - what if it never happens? (see my post on increasing costs to build) you just lagged further behind.

[The Stranger:Me]

Boycot the realestate market and let the prices drop!!

Where do you propose the boycotters live in the interim?
Surely not rent as that cause the investors to come in and push prices up wont it?

[Karma]

Well using the bike as the main form of transport it's tempting to move a way outta the city, west to kumeu, east to clevedon, or north past Orewa.

Get a lot more for the money, trouble is I'm just a city boy, so I'll have to pay the price.

[The_Dover]

Get a lot more for the money, trouble is I'm just a city boy, so I'll have to pay the price.

and there's no 24 hour maccas in the cuntry.

[Karma]

and there's no 24 hour maccas in the cuntry.

You wound me sir! I'm all about the kebabs at the moment

[Brian d marge]

begs the million dollar question ...where would one live in NZ , have a Job ,,,and still have a small diposable , for the fun things

Wife working part time maybe



Dont all rush now ... and there must at least be a goat track ( or goats ) to the door

Stephen

[The_Dover]

You wound me sir! I'm all about the kebabs at the moment

in that case give Kebabs to Go in Grafton (next to the Domain Deli) a whirl.

He's not shy with his meat, even for a dirty turk.

[Karma]

Oh, sounds like a plan... everyone else has their regular rides... how's about the Auckland Friday Night Kebab Ride?

[The_Dover]

Oh, sounds like a plan... everyone else has their regular rides... how's about the Auckland Friday Night Kebab Ride?

i'd love to but i can't afford to eat out these days.

i want to buy a house.

[Swoop]

I would strongly discourage anyone from buying ANY house (or apartment) at all built since about 1980.

Hmm. I have been saying any place built since the early 1990's when the legislation changed. 3" stud, interior walls and untreated pine...

My point however is that Joe average can in fact knock up a reasonably watertight dwelling. Many of these I walk into and cringe and the workmanship or lack thereof, however quality of finish is not mine to judge. If someone is happy with bent walls, poor mitres, ill fitting doors etc etc that is their prerogative.

A Henderson subdivision was "created" by asian (no slur intended) "tradespeople"... An open home was shown with very poor quality finishing, bowed walls, doors not fitting, etc, etc, etc.... The only comment was "Kiwis too fussy!!!"

Some poor bastard is going to be left holding the baby with this POS...

Where do you propose the boycotters live in the interim?
Surely not rent as that cause the investors to come in and push prices up wont it?

Live on a boat. Seriously. Much better, and then wait for the market to collapse.

[slowpoke]

Fukkin' hell, last time I heard this much whinging I'd accidently shut the dogs' tail in the car door!
I't's hardly worth starting on some of the comments: most new houses will have fallen down in 20 years, $400k gets you a rundown shithole, move to Oz quicksmart, yada yada.

I just did a quick search on www.realestate.co.nz for houses in the Wellington area, plugged in $300k max and came back with 17 pages of houses, 20 houses to a page. That sounds like a pretty fair selection for houses well UNDER the average price. For that money you can get a funky looking near new 4 x 2 on the Kapiti Coast. Yup, it's a commute, but it's a hell of a lot better than most other capital cities in the world, with no smog, open roads and a beach on your doorstep. In Western Australia that sort of property would be worth $1m.

Having only recently returned from Perth I bloody laughed when somebody suggested moving to Oz. Prices in Melbourne and Sydney have been flat or going backwards recently (anybody wanna buy a depreciating investment?) and in Perth the average house price has just topped $460k AUD, which is nearly $520k NZD....oh yeah, REALLY affordable for a Kiwi rocking up with empty pockets....NOT!

You can't have it both ways guys. You'd be winging (again) like my stumpy tailed dog if prices were going backwards and here you are squalking away 'cos they are going forwards. Bloody hell, I know which way I'd rather have it. Would you rather you or your kids bought a depreciating asset or an appreciating one?

Yes, there may be a correction of sorts in the future but realistically just one years growth at recent rates will more than make up for it and history shows that over time real estate always trends upwards. Despite the recent boom we haven't arrived at these prices overnight. As high as they are, in ten years time they'll seem unbelievably cheap.

Sure houses may be less affordable than previously but there are still plenty of houses available for less than the average price. We just don't want to pay for them. Now more than ever we are consumed with the desire for style and image. We've got to have the $150 jeans, the $500 camera phone/organiser, the $90 hair cut, the $250 pram etc etc. As a result our first house has GOT to have an ensuite, it HAS to have landscaping, it must be in a "good" area, must be 15 minutes from work etc etc.

I think there are still reasonable options available to first home buyers, it's just that they don't find the options very attractive. Looking back at the shitty rental accomodation I grew up in none of it was in the least bit attractive either, but if Mum and Dad had had the sense to buy one of those crappy rentals with their rent money they'd be a hell of a lot better off than they are now.

Very few people can buy their dream home first up so you've just got to do the best you can and try and step up as you go through life. As I was once told: you can only piss with the cock you've got. If you've got champagne dreams but a beer budget you've got two choices: go thirsty and keep dreamin' about champagne or get stuck into the beer. It's an easy choice as far as I'm concerned.