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20% deposit needed to buy a house from oct

20% deposit needed to buy a house from oct

Old Oct 21st 2014, 9:15 am
  #316  
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Default Re: 20% deposit needed to buy a house from oct

Originally Posted by Bellasmum View Post
I thought this was a thread about house prices??
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Old Oct 21st 2014, 9:53 am
  #317  
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Default Re: 20% deposit needed to buy a house from oct

Bellasmum was responding to comments in a previous post.
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Old Oct 21st 2014, 11:38 am
  #318  
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Default Re: 20% deposit needed to buy a house from oct

Oh I hadn't read that one.
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Old Oct 24th 2014, 8:48 am
  #319  
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Default Re: 20% deposit needed to buy a house from oct

Pippa - good to still see you here. That article I highlighted really does backup the statements we have made on this forum. Good to see that others didn't disagree with it.
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Old Oct 24th 2014, 9:57 am
  #320  
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Default Re: 20% deposit needed to buy a house from oct

Originally Posted by davros1984 View Post
Pippa - good to still see you here. That article I highlighted really does backup the statements we have made on this forum. Good to see that others didn't disagree with it.
I disagreed with it just didn't have the time to respond, now however

Originally Posted by davros1984 View Post
We arrived prior to this 55% rise in prices in the past 3 years, for example Forrest Hill, Beach Haven, Milford etc.
I.e a house that would have been $300,000 when we arrived, today would be at least 655-700K. That sort of thing you simply cannot predict (slight increases yes, but not 55%)
a 55% increase on $300k is $465 so where does the 655-700K come from?
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Old Oct 24th 2014, 10:16 am
  #321  
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Default Re: 20% deposit needed to buy a house from oct

Originally Posted by Woodlea View Post
I disagreed with it just didn't have the time to respond, now however
Well I guess there's nothing that can be said if you disagree with the article and the stats.

Originally Posted by Woodlea View Post
a 55% increase on $300k is $465 so where does the 655-700K come from?
That's fair, my example was poor - however that is based on the CV not the actual selling price. Thus a house that had a CV of 400K would have a CV of over 600K. By the time it had gone to auction and sold, it would sell for an even higher price. Thus, the what-was a 300K property in 2011 selling for 650K (or more) in 2014 my experience is realistic.
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Old Oct 24th 2014, 8:33 pm
  #322  
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Default Re: 20% deposit needed to buy a house from oct

Originally Posted by davros1984 View Post
Good to see that others didn't disagree with it.
No Davros, we've all moved on. If you want to flog a dead dog you carry on. I prefer to focus on what I can do rather than what I can't. Which might be why I'm enjoying living my new home in Auckland.
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Old Oct 25th 2014, 2:27 am
  #323  
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Default Re: 20% deposit needed to buy a house from oct

Originally Posted by davros1984 View Post
Well I guess there's nothing that can be said if you disagree with the article and the stats.
I didn't disagree with the article - just some of your statements on here.

Originally Posted by davros1984 View Post
That's fair, my example was poor - however that is based on the CV not the actual selling price. Thus a house that had a CV of 400K would have a CV of over 600K. By the time it had gone to auction and sold, it would sell for an even higher price. Thus, the what-was a 300K property in 2011 selling for 650K (or more) in 2014 my experience is realistic.
So would a property with a CV of $300k in 2011 actually be selling for $300k in 2011 - I think not. You wouldn't have got much in Rangiora in 2011 for $300k let alone Auckland.
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Old Oct 25th 2014, 11:40 am
  #324  
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Default Re: 20% deposit needed to buy a house from oct

Heck such a long thread, when I came most of us were coming over so we could get rid of our mortgage.
Thank the Lord we didn't settle in Auckland it sounds horrible.
We live rural on a ten acre block, we absolutely love, love, love it!
I commute to work and I do 100k a day but it's just what I do and I love my job so se la vie.
Look outside those high priced areas and buy your dream home there, NZ is empty and full of space to be populated. I don't know why anyone would come if they just want exactly what they have in the UK, it's obviously not going to happen.
Buy a ten acre block, build a barn and live in it, save your money whilst you live in it and bobs your uncle you can put your dream home on it. Think out the box and stop blaming the government and interest rates, just get artistically creative.
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Old Oct 25th 2014, 2:38 pm
  #325  
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Default Re: 20% deposit needed to buy a house from oct

Whilst it doesn't directly affect me anymore, hence my posts are far less frequent, it is not a dead horse. There's plenty of new people on here thinking of moving to Auckland all the time.
Originally Posted by Woodlea View Post
I didn't disagree with the article - just some of your statements on here.
You can pick all the holes you like, but ultimately you agree with the article and the point: house prices have sky-rocketed in many parts of Auckland over the past 3 years.

So would a property with a CV of $300k in 2011 actually be selling for $300k in 2011 - I think not. You wouldn't have got much in Rangiora in 2011 for $300k let alone Auckland.
Yes. The rental market was the same. A 2-bed flat with 2 balconies and sea views in central Taka - for 3 weeks not one viewing on it, it was a breeze. Come 2013/2014 - the market was insane, so many open homes and loads of people turning up (same flat as well) - oh and the rent was an additional $150-180 a week.


Ssky - you are bang on. A large number of us fell into the unexpected Auckland trap, from time to time I post on this thread to warn prospective people that unless you have very deep pockets, be prepared for what's to come in Auckland. Glad to hear you're happy.

Back where I am in the UK, I can buy a 3-bed house within a 10 minute walk of the city centre (very close to the waterfront) for around 200K GBP. That in Auckland was just not going to happen.

Last edited by davros1984; Oct 25th 2014 at 2:43 pm.
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Old Oct 25th 2014, 9:15 pm
  #326  
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Default Re: 20% deposit needed to buy a house from oct

Originally Posted by jmh View Post
No Davros, we've all moved on. If you want to flog a dead dog you carry on. I prefer to focus on what I can do rather than what I can't. Which might be why I'm enjoying living my new home in Auckland.


Cardiff is hardly a great comparison to Auckland, of course it's cheaper doesn't take a scientist to work that one out. (yes I lived there for a while, ironically bought my first tiny house there! Which at the time thought was over priced!! Over 15 years ago...)

Auckland is basically a capital city (if not officially) The sooner some people try and accept this point the better. The only real comparison in the UK would be to London: "Its a dump" / "why would you live there"/ "its over priced"/ "traffic's horrendous"......Ring any bells with London. People gravitate to London, "the streets are paved with gold" scenario...
Now you either like it for what it is and get on with it, are high flying/ career matured enough to live it or you accept the reality and step off the ride.
Nothing will change because its a "rip off in comparison to some provincial city in the UK". Welcome to the global world.
Auckland is so in demand?

The same could be said about small town NZ, a lot of people would avoid like the plague, "nothing going on"/ "narrow-minded views"/ "limited resource and opportunity"/ "limited opportunities for kids leaving school"/ "miles from the coast".
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Old Oct 25th 2014, 10:24 pm
  #327  
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Default Re: 20% deposit needed to buy a house from oct

I think most people would expect Auckland to be expensive. The issue is how expensive. People reading the forum who are not living in New Zealand could use some local knowledge and advice. I think Davros' link from the NZ Herald is useful to those who haven't looked at the local papers. The increase in capital values of Auckland real estate is significant, and will definitely affect sale prices. It will also mean that previously undesirable suburbs will start looking attractive to eager home buyers.

There is no denying that Auckland already had extremely expensive housing, and it's only going to get more so. Nothing wrong with discussing it.

You good people might want to move on with the conversation because you already have your houses, and probably bought them at a more reasonable price. Doesn't mean others aren't interested in buying and want to keep up with the local trends.
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Old Oct 25th 2014, 10:37 pm
  #328  
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Default Re: 20% deposit needed to buy a house from oct

Originally Posted by Northern Henry View Post


Cardiff is hardly a great comparison to Auckland, of course it's cheaper doesn't take a scientist to work that one out.
Auckland is basically a capital city (if not officially) The sooner some people try and accept this point the better.
Would have to COMPLETELY disagree there. Cardiff IS a CAPITAL city! Also its a capital of a country that is approx 3 million, which is far more like the population of NZ than London and the population of England.

It shows how vastly overpriced Auckland is as well as how some people have no idea of the struggle that the average Kiwi/person faces in Auckland.

Last edited by davros1984; Oct 25th 2014 at 10:46 pm.
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Old Oct 25th 2014, 11:18 pm
  #329  
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Default Re: 20% deposit needed to buy a house from oct

Originally Posted by davros1984 View Post
Would have to COMPLETELY disagree there. Cardiff IS a CAPITAL city! Also its a capital of a country that is approx 3 million, which is far more like the population of NZ than London and the population of England.

It shows how vastly overpriced Auckland is as well as how some people have no idea of the struggle that the average Kiwi/person faces in Auckland.
Yes of course sorry, my mistake I should of thought of that, especially Wales being the fully independent stand alone country that it is. A straight comparison with Auckland to Cardiff is by far a more sensible criteria, it even has a mariner.

Good luck Davros and all who sail with him...

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Old Oct 26th 2014, 7:34 am
  #330  
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Default Re: 20% deposit needed to buy a house from oct

Originally Posted by Northern Henry View Post
Yes of course sorry, my mistake I should of thought of that, especially Wales being the fully independent stand alone country that it is. A straight comparison with Auckland to Cardiff is by far a more sensible criteria, it even has a mariner.

Good luck Davros and all who sail with him...

Most certainly it is more justified to compare Auckland with small, regional capitals than with capitals like London. Otherwise potential immigrants might wrongly think that Auckland is an interesting, exciting city with great art and culture, intellectual stimulation, massive opportunities, and beautiful beaches.
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