Auckland Property Prices

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  1. Post
    NZ's proportion of interest-only loans is MUCH less than Australia though.

  2. Post
    SirGrim wrote:
    The banks there have restrictions of how many Dollars they can lend out as Interest Only loans, due to the caps there seems to be a massive reduction in overall bank lending which has caused the house market crash over there - it's the same thing here, the market is propped up and artificially price inflated by investors, do anything to stop those investors being able to buy (such as not giving them interest only loans) and the market would crash here too
    speculators lol, not investors

    People buying properties that to marginal or even negative cashflow and persevering through this for X amount of years because the property will just go up in value magically...

    More speculators than investors.

  3. Post
    while Aussie has more interest only loans

    New Zealand's narrow money (m1) is up 133% since 2010 and broad (m3) is up 100%

    Australia's m1 is up 50% and m3 up 75%

    so the capital risk for NZ is much greater,

    I mean if you had a friend who jumped on the scale in 2010 and weighed 50kg and then in 2018 was 116.5kg but he hadn't gained any weight.. those some damn heavy clothes.

  4. Post
    Dunno aye. Like interest only seems smarter historically than just paying down a mortgage.

  5. Post
    In an inflationary world sure, but really stupid when that turns, our Reserve Bank is pushing for higher capital ratios.

  6. Post
    When that turns you're ****ed no matter what.

  7. Post
    Me and the Mrs are looking at buying this year. Someone is telling me to wait 3 or 4 years.

    Good advice or nah?

  8. Post
    Dont wait. There are always people saying to wait and they will always regret it.
    There is always a chance in the short term market drops a bit but do you want to be paying for someone elses house for those 3-4 years?

    If you were looking for an investment property it would be different depending on the situation.

  9. Post
    But given whats happening in Aus?

  10. Post
    Hard to compare the markets really. People have been saying wait for as long as I can remember. People have also been saying buy. I know which group will be better off.

    Does the person telling you to wait, have a house in Auckland? Or are they waiting for the crash?

  11. Post
    nzbleach wrote:
    Me and the Mrs are looking at buying this year. Someone is telling me to wait 3 or 4 years.

    Good advice or nah?
    For about the last 40 years, the best time to buy, is yesterday.

    The alternative is to think you can time the market. So good luck with that.

  12. Post
    Had a few friends snag good deals recently. Generally someone selling now is thinking this month is better than next month.

    Not so much don't buy, but definitely don't panic buy.

  13. Post
    I'd wait a bit and watch. Wouldnt be surprised if investors start selling. Next tax year is going to be less friendly to them (eg ring fencing, insulation, etc) and theyre worried about CGT. And whos to say when the next recession is coming. You have a lot more room to find something you want rather than getting what you can.

  14. Post
    Reminds me of what I told myself in 2007.

  15. Post
    I might go to a few auctions to see what people are willing to spend with respect to CV.

  16. Post
    If you're renting, then buy

    If youre at mum and dads for free then wait it out

  17. Post
    Going to auctions to get the feel of the market is a very good thing. As has been said, I wouldn't be waiting to buy, but I also wouldn't be pressured into buying something that's not what you want. The luxury you have now in a buyers market is more choice and more time to make up your mind as to what you're really after.

  18. Post
    We have up to 750K and have been looking in the Glen Eden area. Options look ok but some neighbourhoods are a bit rougher. I found one I really liked but the Mrs wants more land... To me land is just more maintenance but I guess I can appreciate that a bigger section may mean better gains.

  19. Post
    nzbleach wrote:
    We have up to 750K and have been looking in the Glen Eden area. Options look ok but some neighbourhoods are a bit rougher. I found one I really liked but the Mrs wants more land... To me land is just more maintenance but I guess I can appreciate that a bigger section may mean better gains.
    Also generally means more scope for future improvement / flexibility to make it what you want it to be in the future and add value.

  20. Post
    Was told to wait 4yrs ago by everyone we know here. We ignored it and brought, house has gone up $300k since and if we wanted to buy now we would be out priced. Going to be moving area in a few months as well (still in Auckland).

    By today if you are going to live it in it. No idea in investments.


  21. Post
    See my previous post - #4413

  22. Post
    Think outside the square.

    Look at maybe some commercial property that you can live in, [upstairs over a retail].

    Commercial property is much more realistically priced, it's based on returns.

    And you don't have to put up with residential tenants.

  23. Post
    Zarkov wrote:
    Think outside the square.

    Look at maybe some commercial property that you can live in, [upstairs over a retail].

    Commercial property is much more realistically priced, it's based on returns.

    And you don't have to put up with residential tenants.
    My mates dad did that. Bought a small unit. Had a small kitchen. Shower etc installed.

  24. Post
    You have to be careful on the zoning though. Looked into it a while back and a lot of commercial buildings you're not allowed to live in and can't insure.... you can get around it by starting a company band employing yourself as a 24 hour on-premises security guard.

    Also banks typically will see you as a riskier prospect.