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20% deposit needed to buy a house from oct

20% deposit needed to buy a house from oct

Old Mar 8th 2015, 5:20 pm
  #346  
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Default Re: 20% deposit needed to buy a house from oct

Originally Posted by TommyLuck
Well, people have died way too young for us to be in this position.

I make no apology for enjoying the fruits of their labour, whilst investing in the way they did in order to look to secure a decent future for the next generation or two.

Both my wife and I work full time jobs, so were hardly rich kids tossing around the cash like there's no tomorrow. We work for our own money too.

My wife would give it all back to see her Mum again who died when my wife was just 14.

Perphaps some people, Bourbon Biscuit, should perhaps consider the wider connotations of the whole story rather than displaying their unattractive envious slurs over the Internet with limited knowledge.


Anyway, back to my initial response today;

Auckland isn't the only city in the world with its property prices rising to difficult levels for many people.

If you want to live in the main commercial centre of any developed nation you should expect to pay more than the rest of the country do.

And as such without assistance from your family, unless you have a super well paid job, can you expect to be able to buy what you want in the neighbourhood you want.

Rightly or wrongly, it's become a act of life.
Well said Tommy, well said. Even if you do want to show off (which you didn't) then so be it.
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Old Mar 8th 2015, 7:57 pm
  #347  
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Default Re: 20% deposit needed to buy a house from oct

Originally Posted by Pom_Chch
Well said Tommy, well said. Even if you do want to show off (which you didn't) then so be it.
Some people spend far too much time watching everyone else rather than focusing on their own lives.

Their appear more chips on this forum than mortgage multiplies.

From different perspectives NZ property is still relatively cheap. Its a Global market and you can grumble and complain all you like but its no longer a market in isolation.
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Old Mar 9th 2015, 3:39 pm
  #348  
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Default Re: 20% deposit needed to buy a house from oct

Originally Posted by TommyLuck
Well, people have died way too young for us to be in this position.

I make no apology for enjoying the fruits of their labour, whilst investing in the way they did in order to look to secure a decent future for the next generation or two.

Both my wife and I work full time jobs, so were hardly rich kids tossing around the cash like there's no tomorrow. We work for our own money too.

My wife would give it all back to see her Mum again who died when my wife was just 14.

Perphaps some people, Bourbon Biscuit, should perhaps consider the wider connotations of the whole story rather than displaying their unattractive envious slurs over the Internet with limited knowledge.

You are so quick to be offended that you have extrapolated way beyond my actual post so you can do so with gusto. I am not jealous nor did I make any comment about where you get your money from (bit of an over-share there on your part!); I was commenting on your slightly hilarious (slightly desperate) attempt to dress a brag up as something else ...
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Old Mar 9th 2015, 3:46 pm
  #349  
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Default Re: 20% deposit needed to buy a house from oct

Back on topic:

I was pretty appalled to hear on the radio just how tentative the reserve bank is being about putting the brakes on property speculation. It seems that making it harder to buy multiple houses to rent out is politically unpalatable, whereas the loan to value caps that hit mostly first home buyers were passed with very little real difficulty and look set to stay for some time.

I don't understand that
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Old Mar 9th 2015, 7:34 pm
  #350  
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Default Re: 20% deposit needed to buy a house from oct

Originally Posted by Parnell
From different perspectives NZ property is still relatively cheap.
Forced to disagree. For a country that's physically larger than the UK and only has a population of 4.5 million, there is zero excuse for how expensive property (particularly land) is in NZ. Its happened primarily due to poor planning - constructing primarily single-level detached residences with oversized back yards, a lack of willingness to build new as well as a political effort by the National party and its voters to massively inflate house prices for self-gain. I'd say the wealth divide in NZ is far worse there than it is in the UK and its creating a "them and us" division

Originally Posted by bourbon-biscuit
Back on topic:

It seems that making it harder to buy multiple houses to rent out is politically unpalatable, whereas the loan to value caps that hit mostly first home buyers were passed with very little real difficulty and look set to stay for some time.

I don't understand that
I think that says it all about the current government and the greed of a good number of National Voters. I guess that's why people are finally starting to wake up to the Winston Peters message.

Last edited by davros1984; Mar 9th 2015 at 7:39 pm.
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Old Mar 9th 2015, 11:21 pm
  #351  
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Default Re: 20% deposit needed to buy a house from oct

I do get quite frustrated when properties in NZ are compared to properties in London! There are more areas in the UK than London, as here are more areas in NZ than Auckland.

I could never afford a house in London or the immediately surrounding areas. The home we have recently purchased would cost 8 times as much in London. We live in the North East which is a very beautiful part of England. We live 6 miles from Durham City which has just as much to offer as Auckland has. Minus the beaches but plus historical buildings, cathedrals and rivers. We have both found good jobs since we returned home too.

When we toured the North and South Island before we returned home we didn't find a home that we could comfortably afford (which was actually fit for purpose). The materials to renovate a house were far too expensive eg wood, paint etc. In the UK we have around 3/4 of the country to choose from. So I disagree when it is said that NZ house prices are cheaper than the UK.
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Old Mar 10th 2015, 3:08 am
  #352  
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Default Re: 20% deposit needed to buy a house from oct

Originally Posted by Parnell
Some people spend far too much time watching everyone else rather than focusing on their own lives.

Their appear more chips on this forum than mortgage multiplies.

From different perspectives NZ property is still relatively cheap. Its a Global market and you can grumble and complain all you like but its no longer a market in isolation.
I have to agree and from what I've seen property in New Zealand still seems very affordable (maybe not Auckland, like any capital). Comparing different countries is very difficult, because population size alone doesn't always determine price.
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Old Mar 10th 2015, 5:48 am
  #353  
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Default Re: 20% deposit needed to buy a house from oct

Originally Posted by Moses2013
I have to agree and from what I've seen property in New Zealand still seems very affordable (maybe not Auckland, like any capital). Comparing different countries is very difficult, because population size alone doesn't always determine price.
Are you looking at the CV price or are you going to the auctions? There is a huge difference and it is not only in Auckland.
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Old Mar 10th 2015, 12:50 pm
  #354  
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Default Re: 20% deposit needed to buy a house from oct

Originally Posted by bourbon-biscuit
You are so quick to be offended that you have extrapolated way beyond my actual post so you can do so with gusto. I am not jealous nor did I make any comment about where you get your money from (bit of an over-share there on your part!); I was commenting on your slightly hilarious (slightly desperate) attempt to dress a brag up as something else ...
Here we go, another keyboard bully who like to poke at others but doesn't like it when it's given back


I'm not offended, I just felt I should give context to a situation I find myself in.

My intention wasn't and isn't to brag. You've interpreted it as a brag, which says a lot about that you're really thinking. Why accuse me of bragging?

To get a rise?

Whatever, for some reason it bothers you. It's your problem which I much suggest is probably not best dealt with by having a pop at people.



My intention by giving a very personal comparison given that I have agreed to buy and the asking price of a property in London that I lived in for a number of year, to give credence to the fact that Auckland property isn't going mad isolation, there are other cities doing the same. If not even madder!


As for the over sharing, do me a favour! I haven't divulged anything I haven't divulged on here before, so if you like picking on people perhaps pay attention to what they've already shared before trying to pick further holes.
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Old Mar 10th 2015, 12:52 pm
  #355  
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Default Re: 20% deposit needed to buy a house from oct

Originally Posted by davros1984
Forced to disagree. For a country that's physically larger than the UK and only has a population of 4.5 million, there is zero excuse for how expensive property (particularly land) is in NZ. Its happened primarily due to poor planning - constructing primarily single-level detached residences with oversized back yards, a lack of willingness to build new as well as a political effort by the National party and its voters to massively inflate house prices for self-gain. I'd say the wealth divide in NZ is far worse there than it is in the UK and its creating a "them and us" division."

A very interesting and well put point, Davros.

I heard Mike Hosking on the radio elaborating on this idea essentially comparing the UK and NZ and saying that if the UK can house 60 million people and still maintain its greenery, then why an earth can't NZ?

Of course this is all a moot point even looking long term all sorts of infrastructure would have to change let alone actually getting another 55 million people in to NZ, but it's a fair point.

Last edited by TommyLuck; Mar 10th 2015 at 12:56 pm.
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Old Mar 10th 2015, 1:01 pm
  #356  
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Default Re: 20% deposit needed to buy a house from oct

Originally Posted by pippalonghorn
I do get quite frustrated when properties in NZ are compared to properties in London! There are more areas in the UK than London, as here are more areas in NZ than Auckland.

I could never afford a house in London or the immediately surrounding areas. The home we have recently purchased would cost 8 times as much in London. We live in the North East which is a very beautiful part of England. We live 6 miles from Durham City which has just as much to offer as Auckland has. Minus the beaches but plus historical buildings, cathedrals and rivers. We have both found good jobs since we returned home too.

But you've just compared Auckland with Durham City ...

No city or area is a direct comparison to another in another country, or the same country for that matter.

But comparing major city for major city is as close as it'll get.

PS - Delighted that you've found good jobs and are settling back in to it is the North East

A least you made a damn good fist of it over here.
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Old Mar 10th 2015, 7:38 pm
  #357  
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Default Re: 20% deposit needed to buy a house from oct

Originally Posted by bourbon-biscuit
I think you win the prize for the most long-winded attempt at a covert "we bought a flash house" brag on the forum! Congratulations on the house and the brag
It comes with the territory and a local custom that anyone paying $1.5m for an old shack in Central Auckland has to make themselves feel better by way of over sharing and scoring brag-factor points by letting everyone know how much their house is worth today.

Meanwhile it's little wonder that the rest of the country just stand back and laugh. The readers on Stuff Nation would have an absolute field day on TLs post.
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Old Mar 10th 2015, 7:40 pm
  #358  
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Default Re: 20% deposit needed to buy a house from oct

I was trying to explain that as everyone compares London to Auckland, there were other cities in the UK that were the same. Everything seems focused on auckland and London. House prices are really cheap elsewhere in the UK but this is not the case in NZ. That was my point. I also compared durham to London too.

I do miss NZ but I am settled back home now. Hope your house move goes well.
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Old Mar 10th 2015, 8:03 pm
  #359  
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Default Re: 20% deposit needed to buy a house from oct

Originally Posted by pippalonghorn
Are you looking at the CV price or are you going to the auctions? There is a huge difference and it is not only in Auckland.
Just the general sale prices and if you look on the internet, there are plenty of affordable properties. If someone wants to compare, you have to look at the population ranking. Napier-Hastings would be comparable to Bristol, Dunedin comparable to Manchester.
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Old Mar 10th 2015, 8:29 pm
  #360  
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Default Re: 20% deposit needed to buy a house from oct

Originally Posted by Bo-Jangles
It comes with the territory and a local custom that anyone paying $1.5m for an old shack in Central Auckland has to make themselves feel better by way of over sharing and scoring brag-factor points by letting everyone know how much their house is worth today.
He'll be the one laughing when it's worth $3m and he can downsize and cash in his equity. Fact is people want to live in NZ and the majority of them want to live in AKL, and if you can afford it great, and if you can't then blame the government and all their greedy landlord mates
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