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Housing In NZ

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151

Wonder which will go first?

Percent change in real housing prices, 2000-2019
https://twitter.com/jmhorp/status/1379093546305794053

New Zealand: 177%
Canada: 147%
Sweden: 129%
Australia: 110%
UK: 85%
France: 79%
Spain: 51%
OECD Average: 39%
USA: 37%
South Korea: 32%
Germany: 19%
Italy: 3%
Japan: -15%
OECD data

mkr_ahearn - 2021-04-07 07:58:00
152
mkr_ahearn wrote:

Wonder which will go first?

Percent change in real housing prices, 2000-2019
https://twitter.com/jmhorp/status/1379093546305794053

New Zealand: 177%
Canada: 147%
Sweden: 129%
Australia: 110%
UK: 85%
France: 79%
Spain: 51%
OECD Average: 39%
USA: 37%
South Korea: 32%
Germany: 19%
Italy: 3%
Japan: -15%
OECD data

And how will NZ fare when 2020 figures are in, we'll be at the top.

aklreels - 2021-04-07 08:20:00
153

Leaders of NZ in recent memory
J Key - increase in GST and introduced the bright lines test
B English- "safe pair of hands"
J Adern- biggest increase in house price, and boldest actions on residential property speculation.

aklreels - 2021-04-07 08:20:00
154

Plans for more than 200 new homes for a West Auckland suburb have been met with concerns about traffic, a loss of green space and the impact on local schools.
A petition – that has more than 1000 signatures – has also been launched to stop the application being fast tracked.

In the decision to accept the application being sped up, the ministry said the development would provide employment opportunities for about 609 full time construction jobs – and there was the possibility of ongoing permanent jobs.

It also said it would increase housing supply and the application being fast tracked would allow construction to start sooner than if consents were sought through standard Resource Management Act processes.

Do we need more housing, yes. A community ought to be able to grow, even when many like it as it is.

aklreels - 2021-04-07 08:49:00
155
aklreels wrote:

Leaders of NZ in recent memory
J Key - increase in GST and introduced the bright lines test
B English- "safe pair of hands"
J Adern- biggest increase in house price, and boldest actions on residential property speculation.

Well Adern says it's bold action so it must be true eh.

Pity she hasn't done anything to unwind the changes Labour made which turbo charged the housing market last year

Edited by loose.unit8 at 9:16 am, Wed 7 Apr

loose.unit8 - 2021-04-07 09:16:00
156
aklreels wrote:

Plans for more than 200 new homes for a West Auckland suburb have been met with concerns about traffic, a loss of green space and the impact on local schools.
A petition – that has more than 1000 signatures – has also been launched to stop the application being fast tracked.

In the decision to accept the application being sped up, the ministry said the development would provide employment opportunities for about 609 full time construction jobs – and there was the possibility of ongoing permanent jobs.

It also said it would increase housing supply and the application being fast tracked would allow construction to start sooner than if consents were sought through standard Resource Management Act processes.

Do we need more housing, yes. A community ought to be able to grow, even when many like it as it is.

A community ought to be able to have a say on things that will severely affect them. A community ought to expect changes for the better not worse.

pcle - 2021-04-07 09:16:00
157

Bloody NIMBYs

sparkychap - 2021-04-07 09:26:00
158
pcle wrote:

A community ought to be able to have a say on things that will severely affect them. A community ought to expect changes for the better not worse.

I haven't signed the petition, but i might.
This development falls outside of the district plan for the area, it is over 1.2 kms from local rail (so does not qualify as high density) research has shown that people will walk no more than 800 meters to catch public transport regularly, and which is already over capacity for parking. there are no more parks available in the carpark or neighbouring streets.
The very high density and lack or parking are two concerns, the impact to an already heavily utilised intersection is of course concerning to people who are already using congested roads is another.
This development should have been notified and affected parties should have been able to respond. And to be fair developments in this area of less high density have proven to have had a negative affect on the local community.
Its an area i pass through to my suburb, so not exactly in my backyard, but I can at least understand why locals have concerns.

heather902 - 2021-04-07 10:30:00
159
pcle wrote:

A community ought to be able to have a say on things that will severely affect them. A community ought to expect changes for the better not worse.

Should the needs of the many outweigh the wants of the few or one?

Edited by loose.unit8 at 11:59 am, Wed 7 Apr

loose.unit8 - 2021-04-07 11:59:00
160
loose.unit8 wrote:


Should the needs of the many outweigh the wants of the few or one?


Maybe ask a Maori?

pcle - 2021-04-07 12:18:00
161
loose.unit8 wrote:

Should the needs of the many outweigh the wants of the few or one?

Maybe ask Spock?

sparkychap - 2021-04-07 13:08:00
162

Need more railway lines then. Would increase full time jobs for those in rail.

tygertung - 2021-04-07 15:56:00
163
sparkychap wrote:

Maybe ask Spock?

Paraphrasing of course

loose.unit8 - 2021-04-07 16:01:00
164
heather902 wrote:

I haven't signed the petition, but i might.
This development falls outside of the district plan for the area, it is over 1.2 kms from local rail (so does not qualify as high density) research has shown that people will walk no more than 800 meters to catch public transport regularly, and which is already over capacity for parking. there are no more parks available in the carpark or neighbouring streets. .

When I lived near there the bus service was pretty good.

artemis - 2021-04-07 17:03:00
165
artemis wrote:

When I lived near there the bus service was pretty good.

Was it, that's good. But the bus service has nothing to do with high density housing.... or 4 storey apartment block s would be springing up everywhere except in my backyard as we have no bus service. :)

heather902 - 2021-04-08 07:47:00
166

MPs from outside the Wellington region are allowed to claim a capped accommodation allowance to cover their living costs in the city. Most use it to rent flats or hotel rooms, but more than a dozen MPs purchase Wellington accommodation and claim the allowance – effectively renting their Wellington accommodation from themselves.

Luxon is in good company. His current and former party leaders Judith Collins and Simon Bridges both claim the allowance. As of the most recent register of MPs' property holdings, both own Wellington accommodation.

Andrew Bayly, Jacqui Dean, Barbara Kuriger, Melissa Lee, Ian McKelvie, Mark Mitchell, Simon O’Connor, Stuart Smith, Louise Upston and Michael Woodhouse also claim the allowance whilst owning Wellington accommodation.

Labour MPs Willie Jackson, Jenny Salesa, Jamie Strange, and Jan Tinetti have also declared a pecuniary interest in a Wellington property. At the time of publication, representatives for these MPs had not answered whether they claimed a Parliamentary allowance for living in those properties while in Wellington.

How many houses do our MPs own, and do they do it for their retirement nest egg, or to be selfless landlords to benefit those who cannot buy a house. Or to buy a house for each of their children.

Judith Collins said "We're going to take out anything to do with the bright-line test, anything to do with more than a two-year period" .

And restore it to the way it was. Auckland housing $ surpassed that of Sydney a few years ago, and is it no 1 in the world today?

Is there a chance of Parliament enacting a law to make housing affordable, like in home ownership? And not pay rent for life, and suffer the consequences of little equity in old age?

Bring on the Greens. Oops... how many houses do you own,

aklreels - 2021-04-09 07:24:00
167

Fun fact number 1

there is a developer just finished 17 units near my friend, 10 have gone straight up for rent (may have been more.) 1 is for sale and at least 1 is on airbnb (could be the same as a rental one who knows.) I havn't kept records but checking just now I'm sure the asking rents have all just dropped by at least $50 a week.

Fun fact number 2

We're househunting, it's been for a while and quite sporadic because we're looking for something particular, went to see a house a couple of weekends ago, was clear with the agent what we are looking for. Just had an email about a home and income that didn't sell at tender, havn't had one of those for months (probably pre lockdown 1!)

Out of curiosity does anyone have figures for what stated and real inflation would have done to house prices in those countries over that time frame?

magicroundbout - 2021-04-09 12:54:00
168
tygertung wrote:

Need more railway lines then. Would increase full time jobs for those in rail.

Then they can pull them up and turn them into Cycle Trails ............

brouser3 - 2021-04-09 16:03:00
169

This statement from this lady sums it up about New Zealand housing:

“drowning in my own country”

https://www.stuff.co.nz/life-style/homed/housing-affordabili
ty/300272930/descendant-of-mori-chiefs-says-housing-crisis-h
as-cost-her-whnau-their-identity

Very sad reading this. Once upon a time her family was able to afford to buy a house in Westmere.

lakeview3 - 2021-04-11 07:58:00
170
lakeview3 wrote:

This statement from this lady sums it up about New Zealand housing:

“drowning in my own country”

https://www.stuff.co.nz/life-style/homed/housing-affordabili
ty/300272930/descendant-of-mori-chiefs-says-housing-crisis-h
as-cost-her-whnau-their-identity

Very sad reading this. Once upon a time her family was able to afford to buy a house in Westmere.

what she's saying is that now all Maori should be given a home, now we are on the identity gravey train, apparently my life choices have nothing to do with it. Reverse racism.

gabbysnana - 2021-04-11 08:25:00
171
lakeview3 wrote:

This statement from this lady sums it up about New Zealand housing:

“drowning in my own country”

https://www.stuff.co.nz/life-style/homed/housing-affordabili
ty/300272930/descendant-of-mori-chiefs-says-housing-crisis-h
as-cost-her-whnau-their-identity

Very sad reading this. Once upon a time her family was able to afford to buy a house in Westmere.

hmmm in 1970? before the times of the DPB and Social and relationship freedoms we *enjoy* now. Maybe the housing market might look a little different without the pressures that puts on housing stock.
She's had a tough time, but ultimately its her decisions that have cost her the family home. And they aren't necessarily bad decisions, but business and debt always comes with risks.

this sort of stuff, she had a home but prefers a social housing home... so much pressure on the tax payer to provide for all.

https://www.rnz.co.nz/national/programmes/checkpoint/audio/2
018790777/woman-forced-to-pay-double-rent-in-move-to-public-
housing

Edited by heather902 at 8:29 am, Sun 11 Apr

heather902 - 2021-04-11 08:26:00
172
lakeview3 wrote:

This statement from this lady sums it up about New Zealand housing:

“drowning in my own country”

https://www.stuff.co.nz/life-style/homed/housing-affordabili
ty/300272930/descendant-of-mori-chiefs-says-housing-crisis-h
as-cost-her-whnau-their-identity

Very sad reading this. Once upon a time her family was able to afford to buy a house in Westmere.

She’s certainly had a lot of bad luck and made some bad decisions.

lovelurking - 2021-04-11 08:29:00
173

Interesting responses. Sure doesn’t leave much leeway for people to get made redundant, divorce, health problems, make one bad decision does it? fact is, once one of those things happens these days, a large number of people would be screwed.

Don’t think it could happen to you? Think again.

I know of 2 relationships that have ended in the last 2 years, one of over 50 years and the other a marriage of over 30 years. so just when you are sitting all pretty thinking it couldn’t happen to you, well it could. Then what?

lakeview3 - 2021-04-11 08:36:00
174

"Only two weeks into operating another serious illness hit the Frelan family.

Frelan asked for the details not to be published, but it meant four months of visits to hospital."

Then they link to an old article that details said illness....

sparkychap - 2021-04-11 08:37:00
175
lakeview3 wrote:

Interesting responses. Sure doesn’t leave much leeway for people to get made redundant, divorce, health problems, make one bad decision does it? fact is, once one of those things happens these days, a large number of people would be screwed.

Don’t think it could happen to you? Think again.

I know of 2 relationships that have ended in the last 2 years, one of over 50 years and the other a marriage of over 30 years. so just when you are sitting all pretty thinking it couldn’t happen to you, well it could. Then what?

Don't we already support families through relationship break up pretty well really now compared to the 70's

heather902 - 2021-04-11 08:40:00
176
heather902 wrote:

Don't we already support families through relationship break up pretty well really now compared to the 70's

I didn’t say anything about taxpayer support. I meant that if any of us have a marriage break up and we split assets in 2, how many of us could afford at an older age to pick up the pieces and go set ourselves up in another house?

lakeview3 - 2021-04-11 08:52:00
177
lovelurking wrote:

She’s certainly had a lot of bad luck and made some bad decisions.

"A $10,000 loan grew as Frelan failed to make payments. By the end, Frelan said she had paid $56,000 to the lender and the family home was sold for $385,000 to service the debt."

Have to wonder where she borrowed that money from to be hit by interest and penalties like that so quickly....

sparkychap - 2021-04-11 08:58:00
178
lakeview3 wrote:

I didn’t say anything about taxpayer support. I meant that if any of us have a marriage break up and we split assets in 2, how many of us could afford at an older age to pick up the pieces and go set ourselves up in another house?

Do you think that that comes down to personal responsibility?
I don't mean to sound harsh or uncaring, but I don't see how it can be anything other. Relationship break up are devastating in so many ways, and i imagine it would be impossible in some cases for people to own property again.

heather902 - 2021-04-11 09:01:00
179
gabbysnana wrote:

what she's saying is that now all Maori should be given a home, now we are on the identity gravey train, apparently my life choices have nothing to do with it. Reverse racism.

???? ???? ???? ???? ????.

lovelurking - 2021-04-11 09:06:00
180
lovelurking wrote:

???? ???? ???? ???? ????.

"Once were landlords"?

sparkychap - 2021-04-11 09:08:00
181
heather902 wrote:

Do you think that that comes down to personal responsibility?
I don't mean to sound harsh or uncaring, but I don't see how it can be anything other. Relationship break up are devastating in so many ways, and i imagine it would be impossible in some cases for people to own property again.

have you ever been divorced? I have. Let me tell you personal responsibility isn’t going to ‘help’ you if the other person checks out emotionally for whatever reason. Unless you mean having a secret stash of money squirrelled away??? The second case I highlighted, one partner was completely in shock, utterly blindsided. The other case pretty much the same and it’s got very ugly with the splitting of assets. Gone to courts and still going and both cases the people are in their late 70s.

Don’t ever take anything for granted I say.

lakeview3 - 2021-04-11 09:13:00
182
sparkychap wrote:

"Once were landlords"?

more like once were home owners

Edited by lakeview3 at 9:14 am, Sun 11 Apr

lakeview3 - 2021-04-11 09:14:00
183
lakeview3 wrote:

have you ever been divorced? I have. Let me tell you personal responsibility isn’t going to ‘help’ you if the other person checks out emotionally for whatever reason. Unless you mean having a secret stash of money squirrelled away??? The second case I highlighted, one partner was completely in shock, utterly blindsided. The other case pretty much the same and it’s got very ugly with the splitting of assets. Gone to courts and still going and both cases the people are in their late 70s.

Don’t ever take anything for granted I say.

Yeah breakups suck, especially older in life. But what do you want to happen?

sparkychap - 2021-04-11 09:17:00
184
sparkychap wrote:

Yeah breakups suck, especially older in life. But what do you want to happen?

well I would have liked to think that it meant people weren’t out of the housing market. Houses are so unaffordable and there aren’t many options for housing for older people that are affordable. Even 2 bedroom units are outside of most older people’s purchasing range and there just aren’t enough available.

Not even council flats any more. That was always a backstop in the past.

lakeview3 - 2021-04-11 09:29:00
185
lakeview3 wrote:

well I would have liked to think that it meant people weren’t out of the housing market. Houses are so unaffordable and there aren’t many options for housing for older people that are affordable. Even 2 bedroom units are outside of most older people’s purchasing range and there just aren’t enough available.

Not even council flats any more. That was always a backstop in the past.

And if everything was cheaper, they'd come out of the relationship with less anyway. The reality for any situation is that without a decent income you're not going to get back on the housing market full stop as you won't get a mortgage anyway. Situation for younger is often just as bad, especially for the female who statistically will be earning less than the male, and is likely to end up with the care of any children.

The example in the article is a lady on (probably) pretty low wage who is 65. She started renting 12 years ago, and is complaining about this now?

sparkychap - 2021-04-11 09:35:00
186
sparkychap wrote:

"A $10,000 loan grew as Frelan failed to make payments. By the end, Frelan said she had paid $56,000 to the lender and the family home was sold for $385,000 to service the debt."

Have to wonder where she borrowed that money from to be hit by interest and penalties like that so quickly....

My eyebrows also shot up at that.

artemis - 2021-04-11 09:51:00
187
lakeview3 wrote:

have you ever been divorced? I have. Let me tell you personal responsibility isn’t going to ‘help’ you if the other person checks out emotionally for whatever reason. Unless you mean having a secret stash of money squirrelled away??? The second case I highlighted, one partner was completely in shock, utterly blindsided. The other case pretty much the same and it’s got very ugly with the splitting of assets. Gone to courts and still going and both cases the people are in their late 70s.

Don’t ever take anything for granted I say.

I imagine it totally sucks. but when i say take responsibility I don't mean for the break up. But your finances are what they are. maybe you get together with another person in the same situation and buy a property. Not ideal no but you do what you have to do.
You linked the article, but you didn't really say much in what went wrong for her other than personal problems.. well we all have those at different ages and stages in life.

heather902 - 2021-04-11 10:24:00
188

Here's a story for you, lakeview. The same issue is happening in most of the West. https://www.youtube.com/watch?v=EBb9zf_zWvU

apollo11 - 2021-04-11 11:46:00
189
apollo11 wrote:

Here's a story for you, lakeview. The same issue is happening in most of the West. https://www.youtube.com/watch?v=EBb9zf_zWvU

yeah interesting eh. Already happening here to a degree. Remember when we had busloads of foreigners buying streets of houses in Auckland- they were purchasing as groups.

Reading the comments is sobering isn’t it?

As I have said many times before we are returning to Victorian times. Two classes of people. Those that own everything and those that own nothing.

Thanks for the link BTW.

Edited by lakeview3 at 12:08 pm, Sun 11 Apr

lakeview3 - 2021-04-11 12:03:00
190

Yes, it's the point one percent you need to blame, the ones who have benefited from the gross financialisation of the world's economy, plus the predatory banking system.

apollo11 - 2021-04-11 12:30:00
191
apollo11 wrote:

Yes, it's the point one percent you need to blame, the ones who have benefited from the gross financialisation of the world's economy, plus the predatory banking system.

Not at all. Almost all of them are business people. They don't make money unless people willingly buy their product. Bad Government is the cause. Don't believe the propaganda blaming everyone but themselves.

pcle - 2021-04-11 15:08:00
192
pcle wrote:

Not at all. Almost all of them are business people. They don't make money unless people willingly buy their product. Bad Government is the cause. Don't believe the propaganda blaming everyone but themselves.


The 'product' was a scam.
Governments were also sucked in by neo-liberal globalists who financialised everything in sight.

apollo11 - 2021-04-11 16:29:00
193

Sections for sale

Flat Bush 140 sq m $518,000
Flat Bush 209 sq m $495,000

Huapai, Rodney 191 sq m For sale by tender

Waiuku 1,475 sq m $470,000

Warkworth 923 sq m $569,000

Glenfield 400 sq m $399,000

aklreels - 2021-04-14 12:32:00
194

Residential Housing is an investment

One long-term problem identified by Ardern, cultural as much as political, has been the view of housing as a lucrative and ever-reliable investment.

Housing Minister

Woods shares that concern and says the Government is working on options to encourage alternatives, like “build to rent” apartment developments designed to be tenanted long-term rather than sold to individual owners.
“The days of thinking the state can be a passive bystander and the market will provide, I think, are over - I think we've seen that there is market failure, the market hasn't delivered.”
Woods says KiwiBuild ran into the same problems as the broader housing sector - a lack of buildable, rather than zoned, land for development.

Government measures on house prices are working

Remember FOMO? The 'fear of missing out' is a big deal in the world of house sales. But things have changed.
As a result of the Government's housing policy, there's growing uncertainty over prices, fuelling hesitancy with buyers fearful of paying too much for property. Hence, FOMO has now been replaced by FOOP - the fear of overpaying.
Price growth hit a record high in March, but experts say that was probably the "last hurrah".

aklreels - 2021-04-16 10:05:00
195

I've noticed more 'for sale' signs going up in some streets known to have a high number of rentals, perhaps the changes to tax policy are having an effect.
However it's a laugh for a minister to say that the 'market has failed' when the market is utterly distorted by bureaucratic meddling. Government let tens of thousands of immigrants arrive here over many years and did nothing to ensure there would be places for these people to live. Government just assumed that the market would take care of it- whilst simultaneously making it much tougher and more expensive to develop land and build houses.

apollo11 - 2021-04-16 10:17:00
196

Online auction, Barfoot and Thompson, 16th April, Central Auction Rooms
7 out of 33, were sold.
The lowest that I have seen in the past few weeks.

REINZ
The West Coast, Manawatu/Wanganui, Hawkes Bay and Otago all recorded annual price increases of more than 30 per cent, while Auckland’s median price rose by 18.5 per cent to a new record of $1.12 million.

Properties also sold at the fastest pace in a March since records began, sitting on the market for 28 days on average, and more than a third (34.0 per cent) of them sold at auction, the highest percentage ever.

“Over the next couple of months we would expect house prices to continue rising but we hope this will be at a slower pace than we’ve seen over the last 6 to 12 months.” she said.

I get it, they are talking about results to March, not what is happening at auctions yesterday or the past week.

aklreels - 2021-04-17 09:41:00
197

Yes Barefoot and Thompson auction results from interest.co 28 sold 48 passed in. Huge switch around.

mkr_ahearn - 2021-04-17 10:48:00
198
heather902 wrote:

hmmm in 1970? before the times of the DPB and Social and relationship freedoms we *enjoy* now. Maybe the housing market might look a little different without the pressures that puts on housing stock.
She's had a tough time, but ultimately its her decisions that have cost her the family home. And they aren't necessarily bad decisions, but business and debt always comes with risks.

this sort of stuff, she had a home but prefers a social housing home... so much pressure on the tax payer to provide for all.

https://www.rnz.co.nz/national/programmes/checkpoint/audio/2
018790777/woman-forced-to-pay-double-rent-in-move-to-public-
housing

Wow! talk about assumptions! did you miss out on the empathy gene? Isn't it possible she is seeking affordable security for her child?
"prefers" - well lets hope you never end up in a vulnerable situation.

upfront1 - 2021-04-17 16:06:00
199
upfront1 wrote:

Wow! talk about assumptions! did you miss out on the empathy gene? Isn't it possible she is seeking affordable security for her child?
"prefers" - well lets hope you never end up in a vulnerable situation.

How is being a Parent being in a vulnerable situation?

heather902 - 2021-04-18 09:19:00
200
apollo11 wrote:


The 'product' was a scam.
Governments were also sucked in by neo-liberal globalists who financialised everything in sight.

it’s also a Ponzi scheme we’ve all fallen for - getting “rich” by selling each other property for ever increasing debt, fuelled only by scarcity, FOMO and artificially low interest rates.

sparkychap - 2021-04-18 09:27:00
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