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Still a good time to buy?

#Post
1

Should first time borrowers be wary now there's so many people suggesting price stall/drop - would they be better off keeping their deposits and just carrying on saving? Where do people see the risk is now?

timmeh111 - 2021-03-30 16:54:00
2

If the price is right, buy.

masturbidder - 2021-03-30 17:07:00
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The government's 'changes' are neither here nor there. They are just playing around the edges and ignoring the real cause.

Having said that, the conditions which have led to the current massive price rises aren't going to last much longer. I've been saying this for months.
Immigration is close to zero, the government's silly monetary policy is going to have to change and interest rates are going to have to rise. There's going to be a correction for sure and the people buying this year are going to wear it.

loose.unit8 - 2021-03-30 17:07:00
4

Anyone who believes prices will fall is deluded. They may cease to increase at the unsustainable rate they are today, which is a good thing. Property should always be a long term investment, either as a home or a rental so even if prices dip a little it should not put off the buying decision. Just my pennies worth.

jeffqv - 2021-03-30 17:59:00
5

The line of people wanting to move here is out the door, around the block and across town. If the housing market looks shaky in future years, govt can just open the spigot a little and increase demand for housing.

apollo11 - 2021-03-30 18:38:00
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apollo11 wrote:

The line of people wanting to move here is out the door, around the block and across town. If the housing market looks shaky in future years, govt can just open the spigot a little and increase demand for housing.

I was pleased to see a transportable home place spring up here lately. They have been knocking them up really quickly. More of that would be good.

lakeview3 - 2021-03-30 19:07:00
7
timmeh111 wrote:

Should first time borrowers be wary now there's so many people suggesting price stall/drop - would they be better off keeping their deposits and just carrying on saving? Where do people see the risk is now?

If they are wanting a place to live in long term and are able to pay the mortgage then I’d say start looking now so that when the right one comes along they’ll recognise it.
In 20 years time they will probably be in a different place but I bet they won’t have any regrets...
Interest rates are nice and low now too so it’s a good time to borrow...
Best wishes.

lovelurking - 2021-03-30 19:30:00
8
lakeview3 wrote:

I was pleased to see a transportable home place spring up here lately. They have been knocking them up really quickly. More of that would be good.

Unfortunately the success of transportable / small / "build it in a factory, ship to the site on the back of a truck" type housing, is in the hands of local councils and getting them to "like them" / allow them.. If you just put down a slab, crane a complete house off the back of truck onto this slab, connect up the power and water etc.. you are doing the local council and their clipboard warriors out of all sort of inspections and opportunities to clip the ticket... you can not fund variety projects and new office space out of the revenue of one concrete slab inspection per house !!

onl_148 - 2021-04-01 14:27:00
9
onl_148 wrote:

Unfortunately the success of transportable / small / "build it in a factory, ship to the site on the back of a truck" type housing, is in the hands of local councils and getting them to "like them" / allow them.. If you just put down a slab, crane a complete house off the back of truck onto this slab, connect up the power and water etc.. you are doing the local council and their clipboard warriors out of all sort of inspections and opportunities to clip the ticket... you can not fund variety projects and new office space out of the revenue of one concrete slab inspection per house !!

The houses still get inspected in the yard for the usual components. Difference is often in different areas. BIL had one built in Cambridge, so Waipa did the house material inspections, transported to north of Auckland so ACC did the slab, connections and final sign-off. No reduction in council costs either way really. Cost saving was more about build being completed indoors so no down time due to weather, even including transport costs.

hers.nz - 2021-04-02 12:12:00
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onl_148 wrote:

Unfortunately the success of transportable / small / "build it in a factory, ship to the site on the back of a truck" type housing, is in the hands of local councils and getting them to "like them" / allow them.. If you just put down a slab, crane a complete house off the back of truck onto this slab, connect up the power and water etc.. you are doing the local council and their clipboard warriors out of all sort of inspections and opportunities to clip the ticket... you can not fund variety projects and new office space out of the revenue of one concrete slab inspection per house !!


The problem is the councils.
Their mindset is to meddle with every detail on every build (and charge for it on a blank-cheque basis) so the idea does not work in NZ.

masturbidder - 2021-04-02 12:18:00
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timmeh111 wrote:

Should first time borrowers be wary now there's so many people suggesting price stall/drop - would they be better off keeping their deposits and just carrying on saving? Where do people see the risk is now?

I got told in 2014 it was a bad time to buy as prices were going to drop yet here we are.

familiadude1 - 2021-04-02 20:17:00
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familiadude1 wrote:

I got told in 2014 it was a bad time to buy as prices were going to drop yet here we are.

Absolutely. As long as I've been on this board this question has been asked...I think it was about 2004 I started hanging about on here, a year after I paid $30k for a little cottage out in the wops of Southland.

seaqueen - 2021-04-04 07:38:00
13
seaqueen wrote:

Absolutely. As long as I've been on this board this question has been asked...I think it was about 2004 I started hanging about on here, a year after I paid $30k for a little cottage out in the wops of Southland.

Not to mention the extra-curricular activities in the village.

johnston - 2021-04-04 07:46:00
14
johnston wrote:

Not to mention the extra-curricular activities in the village.

to be fair there’s not much else to do in the wops of Southland.

sparkychap - 2021-04-04 07:49:00
15
johnston wrote:

Not to mention the extra-curricular activities in the village.

That still gets a chuckle from me when I think about that thread.

seaqueen - 2021-04-04 07:50:00
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