Auckland Property Prices

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  1. Post
    Daynger wrote:
    If you have waited 5 years for a 10% downturn its a false economy, houses have risen 50% or more in that time.
    So much this. I thought I'd be smart and time the market back in 2005. Convinced a crash was on the way I paid off my Student Loan rather than buying a house. The crash came, but the magnitude was about 2-3 months of gains when the market was at its most rampant.

    If you're buying to live in long term there's almost no bad time to buy.

  2. Post
    swazi wrote:
    10% of Auckland sellers now making a loss apparently. 15% for apartment owners nationwide. And expected to increase. Not promising.
    https://i.stuff.co.nz/business/11522...bles-in-a-year
    Good news then. House prices in Auckland are killing the city.

  3. Post
    Is it actually good news that 10% of properties have dropped in price? What about the other 90% of properties selling... would lead me to believe they sold for either the same price, or for a profit. Didn't see that mentioned though, funny that.

    Wake up sheeple, lol.

  4. Post
    Daynger wrote:
    If you have waited 5 years for a 10% downturn its a false economy, houses have risen 50% or more in that time.
    I haven't waited for any particular reason. Just been continuing to save.

  5. Post
    the auction volumes have been abysmal

  6. Post
    swazi wrote:
    10% of Auckland sellers now making a loss apparently. 15% for apartment owners nationwide. And expected to increase. Not promising.
    https://i.stuff.co.nz/business/11522...bles-in-a-year
    They have withheld valuble information from that article that could put it in perspective, they stated that nation-wide the average gain on property sales was $197,000, then that the average loss taken was $22,000 in Auckland, but note what the average loss was nation wide, or what the average gain was in Auckland, they have skewed the figures to match their narrative.

    It sounds like Stuff are trying to undermine the property market to me.

  7. Post
    Esprit wrote:
    If you're buying to live in long term there's almost no bad time to buy.
    There is a bad time to buy... tomorrow.

  8. Post
    Anyone have any experience with townhouses? I have done a bit of research and the obvious issues like cross-lease, being harder to re-sell etc. Going to talk to the bank today to get their thoughts, but is it also easy to get insurance for them?

  9. Post
    Indigo1 wrote:
    Anyone have any experience with townhouses? I have done a bit of research and the obvious issues like cross-lease, being harder to re-sell etc. Going to talk to the bank today to get their thoughts, but is it also easy to get insurance for them?
    If the townhouse is in a body corporate then you donít have to worry about insurance (buildings anyway) as the BC covers it.

    If itís not in a BC I donít see why it would be any harder to get insurance.

  10. Post
    darkness_nz wrote:
    I haven't waited for any particular reason. Just been continuing to save.
    Fair enough.
    If you can afford the deposit and repayments and find something you like its always best to buy now.
    Even if it does drop in value short term, it actually doesnt unless you sell, and long term property is a fairly safe bet to increase in price.

  11. Post
    dickytim wrote:
    They have withheld valuble information from that article that could put it in perspective, they stated that nation-wide the average gain on property sales was $197,000, then that the average loss taken was $22,000 in Auckland, but note what the average loss was nation wide, or what the average gain was in Auckland, they have skewed the figures to match their narrative.

    It sounds like Stuff are trying to undermine the property market to me.
    It also never takes into account which properties are selling.
    One year a whole lot of high end properties can sell dragging the average sale price up, where the next year only the cheaper low end stock in the same suburb will sell dragging the average sale price down.
    Always take these articles with a grain of salt.

  12. Post
    Interest.co.nz reporting that HSBC are advertising 3.35%!

  13. Post
    Indigo1 wrote:
    Anyone have any experience with townhouses? I have done a bit of research and the obvious issues like cross-lease, being harder to re-sell etc. Going to talk to the bank today to get their thoughts, but is it also easy to get insurance for them?
    If there are lots of the same in the area Its like apartment buying really. Be very careful its not leaky. Leaky home is one thing, leaky building with bodycorp is a whole nother level.
    Get the bodycorp minutes for last few years if you can and read through it about general issues and their current funds.

  14. Post
    Can someone explain to me why CHCH property is so affordable compared with the rest of the country? Is it earthquakes? A friend of mine is selling his house in AKL and going freehold down there. He's trying to convince me to move down once I'm ready, looking at the housing I feel like there's got to be something i'm missing.

    It seems totally out of line with our national pricing. As a corporate worker, I'd rate it 3rd (4th at worst) in the country job wise. Yes very distant behind AKL + Wel but those are booming. There's a decent amount of work that seems to be advertised at the going rate, rather than some crazy lowball rural offer.

    The house pricing seems not that much more expensive than Dunners, which seems insane.

    What am i missing here? What's the bad news? If you can get insured are earthquakes that much of a worry?

  15. Post
    Doesn't sound very accurate to me. Perhaps you're just looking at the cheap suburbs?

  16. Post
    Average price in CHCH is around 500k, in the places like Hornby 350k can get you a family home, in contrast kennedys bush the average is 1 million. I spent 3 months searching and recently got my first home, a 3 bed house 160sqm,and 300sqm cross lease section, standalone separate entry. RV was 480 and got it for 433,000. It also takes me only 18 minutes to drive the 9km from Halswell to work in the CBD. Speaking to a colleague in my firm who recently transferred to Aucks , he commented he pays double the living costs in Auckland and downgraded his rental from a mansion in summer to an old house in Auckland in which his cloths go moldy in the closet.

  17. Post
    JPAR wrote:
    Can someone explain to me why CHCH property is so affordable compared with the rest of the country? Is it earthquakes? A friend of mine is selling his house in AKL and going freehold down there. He's trying to convince me to move down once I'm ready, looking at the housing I feel like there's got to be something i'm missing.

    It seems totally out of line with our national pricing. As a corporate worker, I'd rate it 3rd (4th at worst) in the country job wise. Yes very distant behind AKL + Wel but those are booming. There's a decent amount of work that seems to be advertised at the going rate, rather than some crazy lowball rural offer.

    The house pricing seems not that much more expensive than Dunners, which seems insane.

    What am i missing here? What's the bad news? If you can get insured are earthquakes that much of a worry?
    Honestly I'd move to Christchurch from Auckland if i could, but my type of work just isn't there.

  18. Post
    JPAR wrote:
    Can someone explain to me why CHCH property is so affordable compared with the rest of the country? Is it earthquakes? A friend of mine is selling his house in AKL and going freehold down there. He's trying to convince me to move down once I'm ready, looking at the housing I feel like there's got to be something i'm missing.

    It seems totally out of line with our national pricing. As a corporate worker, I'd rate it 3rd (4th at worst) in the country job wise. Yes very distant behind AKL + Wel but those are booming. There's a decent amount of work that seems to be advertised at the going rate, rather than some crazy lowball rural offer.

    The house pricing seems not that much more expensive than Dunners, which seems insane.

    What am i missing here? What's the bad news? If you can get insured are earthquakes that much of a worry?
    Have you seen the news lately? All the bad stuff seems to happen in ChCh

  19. Post
    Cheapest housing is available in Linwood for obvious reasons.

  20. Post
    Wasn't there an oversupply of new houses following the earthquakes that lead to a drop in house prices?

  21. Post
    A lot of people left town, Christchurch didn't rebuild bigger and better than before.

    Not sure why that was a surprise to anyone.

  22. Post
    I work on big subdivisions daily, doesn't seem to be getting any smaller. CBD has some modern as fook buildings now to replace the old as fook stuff that crumbled.

  23. Post
    Finally! We got to unconditional on selling our house, and in doing so went unconditional on the one we were buying.

    What a friggin stressful 3 months!

  24. Post

    Auckland Property Prices

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    Last edited by Puk; 12th September 2019 at 6:44 pm. Reason: Double post somehow

  25. Post
    Puk wrote:
    Finally! We got to unconditional on selling our house, and in doing so went unconditional on the one we were buying.

    What a friggin stressful 3 months!
    congrats bro good work!