Rising NZ house prices
Aug 20th 2003, 9:40 pm
#1
BE Enthusiast
Thread Starter
Joined: Jan 2003
Location: Northern Ireland
Posts: 327
Rising NZ house prices
Is anyone else worried about this? Just read an article in the Press newspaper (via stuff.co.nz) that house prices in Christchurch have risen by something like 21.5% in the past year and in Dunedin by 26.4 (from memory)! The article goes on to talk of speculation of rising prices for the next 18 months or so and then stabalising or pulling back a bit!! Typical, I thought! No-one wants to live in NZ until we want to go and then their prices take a hike and we can't sell the blessed house we have here!!
Sorry, but personally I blame this forum! I think it's time to stop talking about how great a place we all think NZ is!!
Sorry, but personally I blame this forum! I think it's time to stop talking about how great a place we all think NZ is!!
Last edited by jajpe; Aug 20th 2003 at 10:00 pm.
Aug 20th 2003, 10:30 pm
#2
Forum Regular
Joined: Feb 2003
Location: Auckland
Posts: 161
Prices in Auckland are still on the move. I bought in Mar 03 and the estate agent reckons that we are seeing growth of 2.5% per quarter.
The market looks set to remain strong because interest rates are on a downward turn and there is a healthy flow of migrants looking to buy property.
In the desirable parts of Auckland there are lots of buyers chasing not too many properties which drives the prices up.
Average house prices are still low in comparison to the UK and migrants coming here with a few pounds from the sale of UK property should be OK depending on what your expectations are.
The avarege house price in Auckland is about $360k but nice houses in nice suburbs in good school zones cost a lot more
The market looks set to remain strong because interest rates are on a downward turn and there is a healthy flow of migrants looking to buy property.
In the desirable parts of Auckland there are lots of buyers chasing not too many properties which drives the prices up.
Average house prices are still low in comparison to the UK and migrants coming here with a few pounds from the sale of UK property should be OK depending on what your expectations are.
The avarege house price in Auckland is about $360k but nice houses in nice suburbs in good school zones cost a lot more
Aug 20th 2003, 11:08 pm
#3
Just Joined
Joined: Aug 2003
Posts: 28
Originally posted by smithone
Prices in Auckland are still on the move. I bought in Mar 03 and the estate agent reckons that we are seeing growth of 2.5% per quarter.
The market looks set to remain strong because interest rates are on a downward turn and there is a healthy flow of migrants looking to buy property.
In the desirable parts of Auckland there are lots of buyers chasing not too many properties which drives the prices up.
Average house prices are still low in comparison to the UK and migrants coming here with a few pounds from the sale of UK property should be OK depending on what your expectations are.
The avarege house price in Auckland is about $360k but nice houses in nice suburbs in good school zones cost a lot more
Prices in Auckland are still on the move. I bought in Mar 03 and the estate agent reckons that we are seeing growth of 2.5% per quarter.
The market looks set to remain strong because interest rates are on a downward turn and there is a healthy flow of migrants looking to buy property.
In the desirable parts of Auckland there are lots of buyers chasing not too many properties which drives the prices up.
Average house prices are still low in comparison to the UK and migrants coming here with a few pounds from the sale of UK property should be OK depending on what your expectations are.
The avarege house price in Auckland is about $360k but nice houses in nice suburbs in good school zones cost a lot more
I agree with the comparison to the UK (especially souther England). It is a commonly held belief that it is the migrants that are upping the house prices.
Aug 20th 2003, 11:24 pm
#4
Forum Regular
Joined: Dec 2002
Posts: 163
Re: Rising NZ house prices
Originally posted by jajpe
Is anyone else worried about this? Just read an article in the Press newspaper (via stuff.co.nz) that house prices in Christchurch have risen by something like 21.5% in the past year and in Dunedin by 26.4 (from memory)! The article goes on to talk of speculation of rising prices for the next 18 months or so and then stabalising or pulling back a bit!! Typical, I thought! No-one wants to live in NZ until we want to go and then their prices take a hike and we can't sell the blessed house we have here!!
Sorry, but personally I blame this forum! I think it's time to stop talking about how great a place we all think NZ is!!
Is anyone else worried about this? Just read an article in the Press newspaper (via stuff.co.nz) that house prices in Christchurch have risen by something like 21.5% in the past year and in Dunedin by 26.4 (from memory)! The article goes on to talk of speculation of rising prices for the next 18 months or so and then stabalising or pulling back a bit!! Typical, I thought! No-one wants to live in NZ until we want to go and then their prices take a hike and we can't sell the blessed house we have here!!
Sorry, but personally I blame this forum! I think it's time to stop talking about how great a place we all think NZ is!!
When we sold our first house to move to a bigger house, but more importantly one with better schools in the area, we dropped the price to a level that was hard to resist. We had tried to sell a few years earlier, on the market for 12 months, no joy, so we gave up. When it became more important and urgent for us to move, we put up with the drop in price and sold within weeks. It depends on how keen you are to move I suppose. Best of luck. LMS
ps PM soon on way re nursing standards.
Aug 20th 2003, 11:36 pm
#5
Forum Regular
Joined: Feb 2003
Location: Auckland
Posts: 161
I agree its all relative and depends on what part of the UK you live in and what your expectations are over here. If you wnat to live in 4/5 bedroom home in Devonport, Remuera, Mission Bay areas then you'll not get much change out of $1m which is still a lot of money even if you have enjoyed healthly profits in the UK.
I still own a flat in London which I bought for 190k in Nov 2001, the price jumped to about 255k by Sep 02 but has now dropped to about 240k. The market in the part of London where I own seems flat whereas Auckland is on the up.
The price is not so much the issue in my expereince more a case of availability. Me and my wife looked at about 100 properties before we bought a place that we like but not perfect.
I still own a flat in London which I bought for 190k in Nov 2001, the price jumped to about 255k by Sep 02 but has now dropped to about 240k. The market in the part of London where I own seems flat whereas Auckland is on the up.
The price is not so much the issue in my expereince more a case of availability. Me and my wife looked at about 100 properties before we bought a place that we like but not perfect.
