Thank you for watching! If you would like to have a chat with Andy or Simon, their contact details are below: Contact Andy: whq.co.nz/contact-us/ Contact Simon: mhq.co.nz/staffmember/simon-mcdonald/
I don't even need to watch this. I bet you are telling people to buy now! Caravans are the only sensible choice for young people, middle aged people and retired people. Just look to the US to see what will happen in NZ, rates and insurance will make buying and renting impossible. 9 or 10 times the average annual income is criminal. Politicians who are so stupid or corrupt to think the market solves these housing shortage problems should all be in jail and all their wealth stripped from their useless asses.
Possibly the biggest emerging issue with house ownership is rising insurance and rates. My council rates on my little 100 sm home in Upper Hutt is $377 per month. Insurance $244 per month
Because home owners and 'investors' have wanted nothing more than perpetual massive growth with no thought at all about the effects on society or the end result on the economy. It has been fuelled by the real estate industry which overvalues property. It has become a ponzi scheme. People still say 'property is the best investment you can make in NZ', yes of course they do, the ponzi scheme needs fresh investors willing to pay the stupid money. Well guess what? It isn't worth it
Luxon recently meeting with Larry Fink of Blackrock and discussing "Investment into NZ" is an Ominous sign for all freedom loving, self-determining oriented Kiwis.
It sure is! We will end up like the UK, swamped with people who have fled their own countries because of house prices and can’t live. The plus for them is their money is worth a lot more than ours so they are happy to pay more - end result is the obvious Kiwi’s can’t afford to live in their own country. It’s also an enormous playground for the very rich. Queenstown, Wanaka, Arrowtown etc being an example.
The fact that people are celebrating 20% first home buyer sales says it all . . . the remainder of the market is from investors . . .it should be 60% not 20%
Property in NZ is tanking hard. Look at inflation corrected prices. We're seeing new lows all across NZ now after a dead cat bounce last summer, as corelogic rightly describe it. If you're looking to buy, wait until the entire market is stable for several months. Don't try to catch a falling knife. On the big scheme of things, the effects of high interest rates will stay with us for at least another year. Many businesses are struggling, government is cutting back everywhere. Stay patient, wait for the market to stabilize, don't offer too much, be prepared to walk away. Hang in there and good luck!
Listening to these two guys who are now on the property ladder have forgotten just how hard it really is to get on it. Low income, age, divorce, accidents, job loss, .If it was easy , everyone would own a property or 2. I've watched people work, save hard out and buy a house and because of 1 of the above reasons, have had to sell or lost it and just can't get back on the ladder.
I only just thought about buying my first home this year. The cheapest home I can find is a single bedroom in Homai Auckland for 479k with 6.9% to almost 10% interest rate. I spoke to someone that serviced my bike about buying my first home and he said he got his 2 bedroom home for him and his family for 320k with 3% interest rate 6 years ago. I turned down the bank loan cause I was eligible for a kiwibuild home I don't think i want to own a home anymore and started looking at boat home cause they can go for less than 100k.
My guess is that a lot of people are looking to sell right now due to job losses, interest rates, and rising living costs. However, the time properties are taking to sell is leading to significant losses, so many people are choosing to rent them out instead. This increased rental supply is lowering rental costs, although landlords are still likely taking a hit. Plus, who wants to sell when their neighbor made $200k more a few years ago? I’m predicting that come summer or early next year, we might see a flood of properties hitting the market, leading to a gradual price drop. By mid-next year, if a lot of people are forced to sell, prices could crash due to the oversupply. I’m also keeping an eye on a few things this year: whether companies continue outsourcing jobs to other countries, and the impact of the upcoming US election, which I think could lead to a significant shift in our economy.
Houses are shit investments. They are just the only thing people put money into in NZ and a scarce resource. Even if houses do double every 10 years a stock market index fund has done 8x over the same time period. You also dont have to pay rates on your index fund. NZ tax incentives are all geared for you to borrow a shit load from a bank and spend your life paying it off. You need a place to live but its not an investment.
What do you think will happen when the Central Govt requires councils to release 30 years worth of land for development mid next year? Would the influx in land cause a drop in property values?
Lots of a them live in flats that kiwis would turn their noises up at. We export a lot of food and fibre off our productive land. It’s our single biggest income. Rates arnt covering R&M on the town’s infrastructure. So do the councils charge more to connect to water and sewage? This would increase the cost of a bare section. Which we need to increase the property pool. She’s a hard one. What we need is a desert like Texas or Aus for cheap land to build on.
Make it that if you don't live in NZ, you can't buy land or a house. And if you own to houses, any more after that, make the tax very high to stop greed. Capitalism is greed. It's wrong the people are paying high rents and paying off someone else's mortgage just because they don't have a deposit. Sharing is Caring....
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Thank you for watching! If you would like to have a chat with Andy or Simon, their contact details are below:
Contact Andy: whq.co.nz/contact-us/
Contact Simon: mhq.co.nz/staffmember/simon-mcdonald/
I don't even need to watch this. I bet you are telling people to buy now! Caravans are the only sensible choice for young people, middle aged people and retired people. Just look to the US to see what will happen in NZ, rates and insurance will make buying and renting impossible. 9 or 10 times the average annual income is criminal. Politicians who are so stupid or corrupt to think the market solves these housing shortage problems should all be in jail and all their wealth stripped from their useless asses.
Possibly the biggest emerging issue with house ownership is rising insurance and rates. My council rates on my little 100 sm home in Upper Hutt is $377 per month. Insurance $244 per month
House prices in New Zealand are criminal. Why are people not descending on Parliament with pitchforks?
Because home owners and 'investors' have wanted nothing more than perpetual massive growth with no thought at all about the effects on society or the end result on the economy. It has been fuelled by the real estate industry which overvalues property. It has become a ponzi scheme. People still say 'property is the best investment you can make in NZ', yes of course they do, the ponzi scheme needs fresh investors willing to pay the stupid money. Well guess what? It isn't worth it
Have u seen the price of pitchforks these days
I can't afford the fuel to get down to welly, can someone give me a lift?
Everyone's been drinking the fluoridation water, makes you docile
Does the govt determine the house prices ?
Luxon recently meeting with Larry Fink of Blackrock and discussing "Investment into NZ" is an Ominous sign for all freedom loving, self-determining oriented Kiwis.
It sure is! We will end up like the UK, swamped with people who have fled their own countries because of house prices and can’t live. The plus for them is their money is worth a lot more than ours so they are happy to pay more - end result is the obvious Kiwi’s can’t afford to live in their own country. It’s also an enormous playground for the very rich. Queenstown, Wanaka, Arrowtown etc being an example.
The fact that people are celebrating 20% first home buyer sales says it all . . . the remainder of the market is from investors . . .it should be 60% not 20%
Property in NZ is tanking hard. Look at inflation corrected prices. We're seeing new lows all across NZ now after a dead cat bounce last summer, as corelogic rightly describe it. If you're looking to buy, wait until the entire market is stable for several months. Don't try to catch a falling knife.
On the big scheme of things, the effects of high interest rates will stay with us for at least another year. Many businesses are struggling, government is cutting back everywhere.
Stay patient, wait for the market to stabilize, don't offer too much, be prepared to walk away. Hang in there and good luck!
Couldn't agree more mate. Thanks!
💯👍
Don't try to catch a falling knife, Thank you
Tanking? Mount Maunganui is selling above GV still. Until you can build a house cheap, property in NZ will remain expensive.
Listening to these two guys who are now on the property ladder have forgotten just how hard it really is to get on it. Low income, age, divorce, accidents, job loss, .If it was easy , everyone would own a property or 2. I've watched people work, save hard out and buy a house and because of 1 of the above reasons, have had to sell or lost it and just can't get back on the ladder.
I only just thought about buying my first home this year. The cheapest home I can find is a single bedroom in Homai Auckland for 479k with 6.9% to almost 10% interest rate. I spoke to someone that serviced my bike about buying my first home and he said he got his 2 bedroom home for him and his family for 320k with 3% interest rate 6 years ago. I turned down the bank loan cause I was eligible for a kiwibuild home I don't think i want to own a home anymore and started looking at boat home cause they can go for less than 100k.
My guess is that a lot of people are looking to sell right now due to job losses, interest rates, and rising living costs. However, the time properties are taking to sell is leading to significant losses, so many people are choosing to rent them out instead. This increased rental supply is lowering rental costs, although landlords are still likely taking a hit. Plus, who wants to sell when their neighbor made $200k more a few years ago?
I’m predicting that come summer or early next year, we might see a flood of properties hitting the market, leading to a gradual price drop. By mid-next year, if a lot of people are forced to sell, prices could crash due to the oversupply.
I’m also keeping an eye on a few things this year: whether companies continue outsourcing jobs to other countries, and the impact of the upcoming US election, which I think could lead to a significant shift in our economy.
Houses are shit investments. They are just the only thing people put money into in NZ and a scarce resource. Even if houses do double every 10 years a stock market index fund has done 8x over the same time period. You also dont have to pay rates on your index fund. NZ tax incentives are all geared for you to borrow a shit load from a bank and spend your life paying it off. You need a place to live but its not an investment.
100% true that.
@@adventure_unlimited Nobody will lend you $600 000 to gamble on the stock exchange.
Heard all this before, when sentiment is like this it is time to buy. Heard these exact same kind of comments in 2013, and 2008.
Yes 60m2 flats are a good move, many cultures live with elders and extended family eg indian, chinese, pacifica, etc. Looking forward to that in 2025.
Nope , lol. You think they are stupid to buy overpriced matchboxes, most are leaving for Aussie. Those 60m2 flats costs one fifth in those countries.
What do you think will happen when the Central Govt requires councils to release 30 years worth of land for development mid next year? Would the influx in land cause a drop in property values?
Good podcast
Thank you!
like everything in nz the cost of doing let alone getting the funds .. is the reason 1 immigrant to 3 kiwis leave
The price of property in nz is a joke
New Zealand is a country bigger than UK and a country Only has half people as London. tell me the reasons
Lots of a them live in flats that kiwis would turn their noises up at. We export a lot of food and fibre off our productive land. It’s our single biggest income.
Rates arnt covering R&M on the town’s infrastructure.
So do the councils charge more to connect to water and sewage? This would increase the cost of a bare section. Which we need to increase the property pool. She’s a hard one.
What we need is a desert like Texas or Aus for cheap land to build on.
Thank you.
Thank you for watching!
Why would you borrow to buy a liability 😂
Society is sick . . . speculating on homes is not moral.
😊
Make it that if you don't live in NZ, you can't buy land or a house. And if you own to houses, any more after that, make the tax very high to stop greed. Capitalism is greed. It's wrong the people are paying high rents and paying off someone else's mortgage just because they don't have a deposit. Sharing is Caring....
Good is good, bad is good. 😂
Lol you say it like it's an option 🤣