Auckland Property Prices

Thread Rating: 2 votes, 5.00 average.
(2 votes)
Results 4,276 to 4,300 of 4451

  1. Post
    Must be true if it's on Stuff.

  2. Post
    Just settled on Friday.

    Market seems to be ticking along. Good time to not be leveraged heavily, but quite happy to keep buying properties with good development opportunity.

  3. Post
    Fragluton wrote:
    Must be true if it's on Stuff.
    From memory similar figures came out in a report 2018Q4, that the housing market was slowing down with most of it being concentrated in Auckland.

  4. Post
    Scary stuff. If it can happen in Sydney and Melbourne, it can also happen in Auckland too!


  5. Post
    I’m interested as to why the Auckland housing market isn’t falling dramatically at the same time as Melbourne and Sydney. Are we just slower to react? Or are there other factors at play?

  6. Post
    hypotenuse wrote:
    I’m interested as to why the Auckland housing market isn’t falling dramatically at the same time as Melbourne and Sydney. Are we just slower to react? Or are there other factors at play?
    No one knows.

    Stuff prints real estate puff pieces as gospel, and the Herald appears to be owned by a roofing company.

    I think it tanked late last year, but no one wants to take a loss yet.

    Time will tell.

  7. Post
    hypotenuse wrote:
    I’m interested as to why the Auckland housing market isn’t falling dramatically at the same time as Melbourne and Sydney. Are we just slower to react? Or are there other factors at play?
    Property boom cycles usually start in centres of greater population then spread themselves outwards.

  8. Post
    Zarkov wrote:
    I think it tanked late last year, but no one wants to take a loss yet.

    Time will tell.
    Yeah could be that the average owner here is willing to and/or has to ride it out. It would be interesting to get data on the number of houses that went to market and didn’t meet seller expectations and how the seller reacted. I suppose high rent means holding on and riding out the dip isn’t a bad option (for investors looking to sell).

  9. Post
    bradc wrote:
    Property boom cycles usually start in centres of greater population then spread themselves outwards.
    Auckland house prices increased at a similar pace as in Melbourne and Sydney though, during the boom times?

  10. Post
    KiwiTT wrote:
    Scary stuff. If it can happen in Sydney and Melbourne, it can also happen in Auckland too!

    Not surprised. I just came back from Sydney and its messed up. the quality isn't there anymore. i wouldn't even want to know about how they are cutting corners on the other stuff that i cant see.

  11. Post
    hypotenuse wrote:
    Yeah could be that the average owner here is willing to and/or has to ride it out. It would be interesting to get data on the number of houses that went to market and didn’t meet seller expectations and how the seller reacted. I suppose high rent means holding on and riding out the dip isn’t a bad option (for investors looking to sell).
    I am seeing For Sale Prices ... when before there were none, only for Auction.

  12. Post
    Median decrease doesn't mean price drop.

  13. Post
    KiwiTT wrote:
    Scary stuff. If it can happen in Sydney and Melbourne, it can also happen in Auckland too!

    learn math
    learn basic finance
    learn excel

    = basic scenario analysis on interest rates, cap gain, etc.
    You can see this stuff coming clear as day.

  14. Post
    “The Australian Bureau of Statistics published building activity data this week which showed there were 227,122 dwellings under construction nationally, only slightly lower (0.6%) than the record high set over the March quarter earlier this year. 69% of these dwellings were classified as ‘other residential projects’ which are predominantly apartments.“

    “Settlement risk refers to the risk that the purchaser of a property isn’t able to meet their settlement obligations and subsequently the contract for purchase may not settle. Settlement risk is inherently higher for an off-the-plan purchase due to the long time period between signing the contract of sale and the completion of the project prior to settlement.”

    “Off-the-plan buyers who find their valuation comes in lower than the contract price at the time of settlement could be in for a rude shock. Lenders will generally be looking for a loan to valuation ratio of at least 90%, more often closer to 80% - meaning their deposit will need to be at least 10% and potentially closer to 20% of the property value. If the valuation comes in lower than expected, the buyer may need to top up their deposit in order to meet the lenders loan to valuation criteria. Some buyers may simply not have the funds to do so which could see the contract fail to settle.”

    “Buyers who aren’t able to settle or choose not to settle would likely lose their deposit and could be sued by the developer to recover any costs incurred, including any difference between the contract price and ultimate selling price.”

    https://www.corelogic.com.au/news/la...ross-melbourne

    Perhaps the scale of new supply (particularly apartments) has been a lot larger in Australia, compared to NZ? (after adjusting for population)

    “The total over the past 12 months is 32,628, also the highest since mid-2004.”

    “ the share for houses has dropped from more than 80% in 2013 to only 65% now. That is the lowest share recorded since this breakdown of the data became available in 1990.”

    https://www.corelogic.co.nz/news/mor...e#.XF9FIKTRWEc

  15. Post
    If there is still a capital gain for people selling then no problem. A lot would be rebuying into the same market conditions (sell Auckland buy Auckland) so no real gain or loss.

    If people bought at the peak of house prices then they probably won't sell right now unless they absolutely have to. That number will be pretty slim.

    It'll take many quarters of falling/lower house prices for this to be a "problem", as in increasing numbers of people realizing negative equity.

  16. Post
    Big difference between Auckland and Sydney/Melbourne is that Auckland does not have oversupply.
    Supply has and will be one of the biggest factor for house prices.
    Nothing much will change in Auckland unless we build a lot more housing. I doubt over next 10 years we will keep up with demand.
    Majority of NZ are feeling the shortage, look at Tauranga and its prices. Its nuts.

  17. Post
    Markuchi wrote:
    Big difference between Auckland and Sydney/Melbourne is that Auckland does not have oversupply.
    Supply has and will be one of the biggest factor for house prices.
    Nothing much will change in Auckland unless we build a lot more housing. I doubt over next 10 years we will keep up with demand.
    Majority of NZ are feeling the shortage, look at Tauranga and its prices. Its nuts.
    Wellington too, supply is a huge issue for buying and renting in Auckland. Some 20 people showed up for the first open home across the street from me in Mangere Bridge on the weekend.

  18. Post
    Rebound wrote:
    Wellington too, supply is a huge issue for buying and renting in Auckland. Some 20 people showed up for the first open home across the street from me in Mangere Bridge on the weekend.
    Only 20? market must be in a down turn then, at its peak it was 50 that show up

  19. Post
    Markuchi wrote:
    Big difference between Auckland and Sydney/Melbourne is that Auckland does not have oversupply.
    Supply has and will be one of the biggest factor for house prices.
    Nothing much will change in Auckland unless we build a lot more housing. I doubt over next 10 years we will keep up with demand.
    Majority of NZ are feeling the shortage, look at Tauranga and its prices. Its nuts.
    Aus population is growing at 1.6% per annum, with NZ growing at 2.1% per annum. Difference is that population growth in Aus is spread out through several major centers. NZ growth, especially immigration, is really focused on Auckland.

    So yea, Auckland on the face of it, is 'safer' from a downturn caused purely by demand. Of course, other factors could come in to play.

  20. Post
    A few houses in my neighbourhood have failed to sell for quite some time now. The prices seem OK to me and the houses are also OK.
    Some are flippers and I think they may have purchased high and will be looking at realising a very low profit if they sell in the current climate.

  21. Post
    SirGrim wrote:
    Only 20? market must be in a down turn then, at its peak it was 50 that show up
    Not in my area on one day at a open home.

  22. Post
    The crash is here boys, bubbles have popped their cherry

    Sold prices in Auckland down by 7% since December 2018!

    RBNZ out with report today

    RBNZ predicts Auckland prices to be negative for the next 3 years and NZ as a whole to be 0%
    The reason NZ as a whole is flat but Auckland continues down is that people who sell in Auckland can no longer afford to buy back in Auckland, so they move to the regions - therefore the regions will still experience some house price growth while Auckland continue down

    https://www.interest.co.nz/property/...el-house-price
    Last edited by SirGrim; 14th February 2019 at 2:21 pm.

  23. Post
    SirGrim wrote:
    The crash is here boys, bubbles have popped their cherry

    Sold prices in Auckland down by 7% since December 2018!
    Prices fall 7-10% every. single. January.

    It's no surprise.

  24. Post
    Woo-hoo prices down..... but **** all. If you're waiting for a crash it won't happen, unless you call a slow backwards slide of 10% or so over a couple of years a crash.

  25. Post
    People will wait for "the crash" till they are going into retirement homes. Even then they will still claim it is coming, lol. I'm pretty new to the market ~12 years, but recall people claiming it back then too. Those same people either quietly purchased, or still stick by that theory and are still waiting. I'm guessing they have doubled in value, during that time?