Go Back  British Expats > Living & Moving Abroad > New Zealand
Reload this Page >

20% deposit needed to buy a house from oct

20% deposit needed to buy a house from oct

Old Aug 22nd 2013, 10:23 pm
  #31  
BE Enthusiast
 
davros1984's Avatar
 
Joined: Nov 2010
Location: Was Auckland-NZ, Now Wales
Posts: 685
davros1984 has a reputation beyond reputedavros1984 has a reputation beyond reputedavros1984 has a reputation beyond reputedavros1984 has a reputation beyond reputedavros1984 has a reputation beyond reputedavros1984 has a reputation beyond reputedavros1984 has a reputation beyond reputedavros1984 has a reputation beyond reputedavros1984 has a reputation beyond reputedavros1984 has a reputation beyond reputedavros1984 has a reputation beyond repute
Default Re: 20% deposit needed to buy a house from oct

Originally Posted by moonie2011 View Post
London is the most densely populated city in the UK as Auckland is the most densely populated city in NZ. The both have large international populations. The both have overheated housing markets fuelled by the disproportionate amount of people who want to live in them rather than elsewhere.
Portsmouth is the UK's most densely populated city in the UK - yet you can easily buy a 3-bed house there for less than 150K GBP. Its actually one of the most densely populated cities in Europe.

London does however have the biggest population, at over 8 million.

London's market is not as overheated as Auckland's. Most can understand why the market in London is strong as it is pretty much the most major city in the world. So you'd expect prices to always trend upwards. However, they are actually building houses and new apartments. This also means that there are plenty of houses within the reach of first-time buyers.

Whereas in Auckland, heads are very much buried in the sand. There is ZERO excuse for what is going on here in Auckland.

Following Shearer's resignation yesterday, I am really amazed that opposition parties find it so hard in NZ. Imagine if a party adopted the following:

a) Restrict/Ban overseas home buyers
b) Introduce Capital Gains Tax
c) Limit the number of properties people can buy/own
d) Stop selling off assets
e) Improve public transport across the city
f) Encourage businesses and companies to move or setup shop in other towns/areas of New Zealand (thus taking the pressure off of Auckland).

That party would win with a landslide. Just don't get Kiwi's sometimes.

Last edited by davros1984; Aug 22nd 2013 at 10:26 pm.
davros1984 is offline  
Old Aug 22nd 2013, 10:35 pm
  #32  
Just Joined
 
Joined: Jul 2013
Posts: 16
stumilburn is an unknown quantity at this point
Default Re: 20% deposit needed to buy a house from oct

Hi all! I ve been reading various threads like this one for the last few months and my heart has sank reading about the cost of living, house price mania and the proposed 20% deposit.

I hoped to get a Primary teaching job and take my 2 kids 6 and 7 and partner with me and move to NZ (As a family we love the outdoors and I m one of those deep thinking, better life naturist, quiet life(ish) types).... I know teaching is not on the job lists- I ve looked at this for years- but still wanted to give it a go!Had one offer in Manurewa in December but the missus wont sell the house and go for it! I reckon I could make a decent impression face to face, or even get in by doing supply.

Maybe my chance has gone. I m more than willing to take big risks but think it may be a suicide mission financially. I don't mind renting a small two bed shed and am not materialistic but the missus might be different. She s into triathlons so there s one carrot. If we sold our house we d have £50 K equity to play with. That would include getting there etc. Previously I would have taken the risk of finding a job in 6 months but now I m thinking of abandoning the whole project for now.

I d love to live "around" Auckland- towards Waitakere ( and near a friend) maybe but Wellington and the hutts may be a better option.

What would you do? I see Davros1984 said it would be crazy for anyone to think about the move at the min. Do you agree?

My mate is really lucky. Lives with his nurse girlfriend in Massey and they both earn more than $70k each- she does loads of extra shifts while he works at Auckland Uni. His lifestyle is great! (They don't have kids either.)

When I went last August I blew most of my money on food! (And a bit of drink) Loved the kayaking and all the outdoor stuff. But I m well aware I wont be able to live like my mate...

Decisions, decisions. The UK is on the up slightly at the min. I think people have adjusted to the times and house prices and spending is slightly up.

I bought 2 punnets of strawberries at a town centre market for £1 the other day... cheap and tasty!

Anyway what would you do? Put it off even longer... or keep forging forward?

All the best
Stu
stumilburn is offline  
Old Aug 22nd 2013, 11:22 pm
  #33  
Account Closed
 
Joined: Nov 2011
Posts: 755
Tom1983 has a spectacular aura aboutTom1983 has a spectacular aura aboutTom1983 has a spectacular aura about
Default Re: 20% deposit needed to buy a house from oct

Originally Posted by davros1984 View Post
Portsmouth is the UK's most densely populated city in the UK - yet you can easily buy a 3-bed house there for less than 150K GBP. Its actually one of the most densely populated cities in Europe.

London does however have the biggest population, at over 8 million.

London's market is not as overheated as Auckland's. Most can understand why the market in London is strong as it is pretty much the most major city in the world. So you'd expect prices to always trend upwards. However, they are actually building houses and new apartments. This also means that there are plenty of houses within the reach of first-time buyers.

Whereas in Auckland, heads are very much buried in the sand. There is ZERO excuse for what is going on here in Auckland.

Following Shearer's resignation yesterday, I am really amazed that opposition parties find it so hard in NZ. Imagine if a party adopted the following:

a) Restrict/Ban overseas home buyers
b) Introduce Capital Gains Tax
c) Limit the number of properties people can buy/own
d) Stop selling off assets
e) Improve public transport across the city
f) Encourage businesses and companies to move or setup shop in other towns/areas of New Zealand (thus taking the pressure off of Auckland).

That party would win with a landslide. Just don't get Kiwi's sometimes.
Now now

I'm sure once Meridian and Mighty River customers see their bills and rates rocket sky high, they'll probably blame St Immigrant or a clerical worker at ASB bank - instead of thinking actually, it might be company meeting demands of shareholders

Just look how much energy companies are ripping off consumers back in England - as well as British Fail!
Tom1983 is offline  
Old Aug 22nd 2013, 11:28 pm
  #34  
BE Enthusiast
 
davros1984's Avatar
 
Joined: Nov 2010
Location: Was Auckland-NZ, Now Wales
Posts: 685
davros1984 has a reputation beyond reputedavros1984 has a reputation beyond reputedavros1984 has a reputation beyond reputedavros1984 has a reputation beyond reputedavros1984 has a reputation beyond reputedavros1984 has a reputation beyond reputedavros1984 has a reputation beyond reputedavros1984 has a reputation beyond reputedavros1984 has a reputation beyond reputedavros1984 has a reputation beyond reputedavros1984 has a reputation beyond repute
Default Re: 20% deposit needed to buy a house from oct

Originally Posted by Tom1983 View Post
Now now

I'm sure once Meridian and Mighty River customers see their bills and rates rocket sky high, they'll probably blame St Immigrant or a clerical worker at ASB bank - instead of thinking actually, it might be company meeting demands of shareholders

Just look how much energy companies are ripping off consumers back in England - as well as British Fail!
As I said in my earlier post - Thatcherism. John Key is on a slow path of Thatcherism, although greed here is far more extreme that it was in 80's Britain.

I saw a documentary on Thatcher the other day on iplayer, apparently in 1 year (1981?) UK manufacturing declined by 15% as British Steel and co were all closed.
davros1984 is offline  
Old Aug 22nd 2013, 11:40 pm
  #35  
BE Enthusiast
 
davros1984's Avatar
 
Joined: Nov 2010
Location: Was Auckland-NZ, Now Wales
Posts: 685
davros1984 has a reputation beyond reputedavros1984 has a reputation beyond reputedavros1984 has a reputation beyond reputedavros1984 has a reputation beyond reputedavros1984 has a reputation beyond reputedavros1984 has a reputation beyond reputedavros1984 has a reputation beyond reputedavros1984 has a reputation beyond reputedavros1984 has a reputation beyond reputedavros1984 has a reputation beyond reputedavros1984 has a reputation beyond repute
Default Re: 20% deposit needed to buy a house from oct

Originally Posted by stumilburn View Post
Hi all! I ve been reading various threads like this one for the last few months and my heart has sank reading about the cost of living, house price mania and the proposed 20% deposit.
Congrats on doing your homework prior to making any big moves. It really is tough here. I fully appreciate though that if you can get a job outside of Auckland - things may be better for you. Sadly though most people do have to move here as its about the only place where most can get jobs.

Originally Posted by stumilburn View Post
My mate is really lucky. Lives with his nurse girlfriend in Massey and they both earn more than $70k each- she does loads of extra shifts while he works at Auckland Uni. His lifestyle is great! (They don't have kids either.)
This is not an attempt to brag or anything, its just fact to give you an idea. Me and my partner don't have kids, I earn over 6 figures here and my partner is also a nurse who picks up extra shifts and does pretty well. We are never short of cash and we have few outgoings. However, to just get a reasonable property at a reasonable price is near impossible. Achieving that in the UK is pretty easy in comparison.

Originally Posted by stumilburn View Post
Anyway what would you do? Put it off even longer... or keep forging forward?
I hope you get good feedback and advice from others. My opinion is to stay where you are and make the most of it. But seriously, write down what it is you want, why do you want to come here. Also is what you want to achieve here actually possible.

2 years ago I came here because I wanted to be here for the RWC and attempt to start a new life here. I'd say we've successfully done that and its a great feeling. I do love life here (despite my negativity in this thread). I am huge on rugby and its great to be in a country where you know that for 10-11 months of the year you know there'll be a big game on most friday and saturday evenings.

Now though I am looking at getting married and starting a family. Being a traditionalist, its important to me that I have a house before bringing kids into the world. I know way too many people here in Auckland with kids that rent that have had to move house so many times (due to greedy landlords) thus upsetting their schooling and other things. I do not want that. FYI... we have been here 2 years and have moved house 4 times due to various reasons (again explained elsewhere in another thread). Anyway - we've decided to stop thinking about it and enjoying the now, some might argue that we're just putting off the big decisions again.

Best of luck with your future and if you want any further info, I'm happy to try and help.

Last edited by davros1984; Aug 23rd 2013 at 12:13 am.
davros1984 is offline  
Old Aug 22nd 2013, 11:56 pm
  #36  
MODERATOR
 
MrsFychan's Avatar
 
Joined: Oct 2011
Location: Wellington - I miss Castles, the NHS & English school system
Posts: 9,074
MrsFychan has a reputation beyond reputeMrsFychan has a reputation beyond reputeMrsFychan has a reputation beyond reputeMrsFychan has a reputation beyond reputeMrsFychan has a reputation beyond reputeMrsFychan has a reputation beyond reputeMrsFychan has a reputation beyond reputeMrsFychan has a reputation beyond reputeMrsFychan has a reputation beyond reputeMrsFychan has a reputation beyond reputeMrsFychan has a reputation beyond repute
Default Re: 20% deposit needed to buy a house from oct

Originally Posted by stumilburn View Post
Maybe my chance has gone. I m more than willing to take big risks but think it may be a suicide mission financially. I don't mind renting a small two bed shed and am not materialistic but the missus might be different. She s into triathlons so there s one carrot. If we sold our house we d have £50 K equity to play with. That would include getting there etc. Previously I would have taken the risk of finding a job in 6 months but now I m thinking of abandoning the whole project for now.
Stu
you'll see about 10-15K of that 50K go on moving out here if you intend to ship stuff over and visa's, medicals, flights for everyone. then if you haven't got work you would need to live off the rest so no actual money to play with if things don't work out.
also it doesn't seem like your wife is keen which could be your main hurdle and could cause resentment in the long term.
MrsFychan is offline  
Old Aug 23rd 2013, 12:48 am
  #37  
Looking for my marbles.
 
pippalonghorn's Avatar
 
Joined: Jul 2013
Location: durham, durham, England
Posts: 730
pippalonghorn has a reputation beyond reputepippalonghorn has a reputation beyond reputepippalonghorn has a reputation beyond reputepippalonghorn has a reputation beyond reputepippalonghorn has a reputation beyond reputepippalonghorn has a reputation beyond reputepippalonghorn has a reputation beyond reputepippalonghorn has a reputation beyond reputepippalonghorn has a reputation beyond reputepippalonghorn has a reputation beyond reputepippalonghorn has a reputation beyond repute
Default Re: 20% deposit needed to buy a house from oct

Originally Posted by stumilburn View Post
Hi all! I ve been reading various threads like this one for the last few months and my heart has sank reading about the cost of living, house price mania and the proposed 20% deposit.

I hoped to get a Primary teaching job and take my 2 kids 6 and 7 and partner with me and move to NZ (As a family we love the outdoors and I m one of those deep thinking, better life naturist, quiet life(ish) types).... I know teaching is not on the job lists- I ve looked at this for years- but still wanted to give it a go!Had one offer in Manurewa in December but the missus wont sell the house and go for it! I reckon I could make a decent impression face to face, or even get in by doing supply.

Maybe my chance has gone. I m more than willing to take big risks but think it may be a suicide mission financially. I don't mind renting a small two bed shed and am not materialistic but the missus might be different. She s into triathlons so there s one carrot. If we sold our house we d have £50 K equity to play with. That would include getting there etc. Previously I would have taken the risk of finding a job in 6 months but now I m thinking of abandoning the whole project for now.

I d love to live "around" Auckland- towards Waitakere ( and near a friend) maybe but Wellington and the hutts may be a better option.

What would you do? I see Davros1984 said it would be crazy for anyone to think about the move at the min. Do you agree?

My mate is really lucky. Lives with his nurse girlfriend in Massey and they both earn more than $70k each- she does loads of extra shifts while he works at Auckland Uni. His lifestyle is great! (They don't have kids either.)

When I went last August I blew most of my money on food! (And a bit of drink) Loved the kayaking and all the outdoor stuff. But I m well aware I wont be able to live like my mate...

Decisions, decisions. The UK is on the up slightly at the min. I think people have adjusted to the times and house prices and spending is slightly up.

I bought 2 punnets of strawberries at a town centre market for £1 the other day... cheap and tasty!

Anyway what would you do? Put it off even longer... or keep forging forward?

All the best
Stu
Hi Stu

We moved over here in June 2013, when I say we I mean my hubby, me and my 4 year old daughter. Wow have we struggled. I am the outdoor type and loved the thought of living here. I hadnt found this forum and so came here with my rose tinted specs on

Looking back we would have stayed at home if we knew. It hasnt offered us a better lifestyle and our quality of living has dropped dramatically. But we are living off a very small wage ( around $800 per week). Our rent is $360 and food comes to $220 with no treats included. Then we have petrol to pay. If you are desperate to give it a try then do so but do not use all of your savings to get here. We kept our house in England and we have bonded our savings. We need this to go home next year.

New Zealand is not for everyone but alot of people come over here and love it. You may be one of them. I am speaking from the heart and thats the only advice I can give you. Its your decision at the end of the day. Always keep a little pot of money aside if you do come over.
pippalonghorn is offline  
Old Aug 23rd 2013, 2:36 am
  #38  
Account Closed
Thread Starter
 
Joined: Mar 2013
Posts: 184
shocked kiwi is an unknown quantity at this point
Default Re: 20% deposit needed to buy a house from oct

I grew up in nz - it wasn't always like this. Nz had one of the highest standards of living in the world once. In the 70s my parents aged 22 and 23 could build a brand new house in bucklands beach auckland on one salary, my dad was a salesman in those days, my mum stayed home.They could run 2 cars and cost of living such as food, medical etc low. Just in the last 10 years, everything has gone up and the govt policies not seeming in favour of those living here.

Last edited by shocked kiwi; Aug 23rd 2013 at 4:11 am.
shocked kiwi is offline  
Old Aug 23rd 2013, 3:40 am
  #39  
Account Closed
Thread Starter
 
Joined: Mar 2013
Posts: 184
shocked kiwi is an unknown quantity at this point
Default Re: 20% deposit needed to buy a house from oct

Originally Posted by davros1984 View Post
Portsmouth is the UK's most densely populated city in the UK - yet you can easily buy a 3-bed house there for less than 150K GBP. Its actually one of the most densely populated cities in Europe.

London does however have the biggest population, at over 8 million.

London's market is not as overheated as Auckland's. Most can understand why the market in London is strong as it is pretty much the most major city in the world. So you'd expect prices to always trend upwards. However, they are actually building houses and new apartments. This also means that there are plenty of houses within the reach of first-time buyers.

Whereas in Auckland, heads are very much buried in the sand. There is ZERO excuse for what is going on here in Auckland.

Following Shearer's resignation yesterday, I am really amazed that opposition parties find it so hard in NZ. Imagine if a party adopted the following:

a) Restrict/Ban overseas home buyers
b) Introduce Capital Gains Tax
c) Limit the number of properties people can buy/own
d) Stop selling off assets
e) Improve public transport across the city
f) Encourage businesses and companies to move or setup shop in other towns/areas of New Zealand (thus taking the pressure off of Auckland).

That party would win with a landslide. Just don't get Kiwi's sometimes.
totally agree
shocked kiwi is offline  
Old Aug 23rd 2013, 6:14 am
  #40  
BE Enthusiast
 
M_and_M's Avatar
 
Joined: Jan 2013
Location: Invercargill
Posts: 627
M_and_M has a reputation beyond reputeM_and_M has a reputation beyond reputeM_and_M has a reputation beyond reputeM_and_M has a reputation beyond reputeM_and_M has a reputation beyond reputeM_and_M has a reputation beyond reputeM_and_M has a reputation beyond reputeM_and_M has a reputation beyond reputeM_and_M has a reputation beyond reputeM_and_M has a reputation beyond reputeM_and_M has a reputation beyond repute
Default Re: 20% deposit needed to buy a house from oct

Originally Posted by lisamct View Post
I was about at the stage of spending mine on gin and shoes when my house turned up!
I spent mine on an emergency flight to the UK for my mothers funeral. Currently getting naff all support from banks to help me onto the housing ladder.
M_and_M is offline  
Old Aug 23rd 2013, 11:27 am
  #41  
BE Forum Addict
 
luvwelly's Avatar
 
Joined: Jul 2007
Posts: 2,285
luvwelly has a reputation beyond reputeluvwelly has a reputation beyond reputeluvwelly has a reputation beyond reputeluvwelly has a reputation beyond reputeluvwelly has a reputation beyond reputeluvwelly has a reputation beyond reputeluvwelly has a reputation beyond reputeluvwelly has a reputation beyond reputeluvwelly has a reputation beyond reputeluvwelly has a reputation beyond reputeluvwelly has a reputation beyond repute
Default Re: 20% deposit needed to buy a house from oct

Originally Posted by Tom1983 View Post
I know what you mean, our house is being sold on November 27th in England and it's kind of put us in a backward step

The wife has talked me round it mind and to be fair gave some good advice. She argued we rent until we become citizens and then decide whether to buy here or buy in England. Hopefully things may have changed in 6 years time

The market may have died down by then or changes for the better have happened

We may also be in a better situation in 6 years time

I was all ready to say tarra NZ but as the wife is really happy here, she's worked her magic and given a decentish explanation.

Plus after seeing the costs for bedding, furniture etc in this country, it'll probably take 5 years just to save up to get one of those. Or I could fall for the silly trap and pay double on finance
How is paying rent for 6 years a good plan?
luvwelly is offline  
Old Aug 23rd 2013, 11:29 am
  #42  
BE Forum Addict
 
luvwelly's Avatar
 
Joined: Jul 2007
Posts: 2,285
luvwelly has a reputation beyond reputeluvwelly has a reputation beyond reputeluvwelly has a reputation beyond reputeluvwelly has a reputation beyond reputeluvwelly has a reputation beyond reputeluvwelly has a reputation beyond reputeluvwelly has a reputation beyond reputeluvwelly has a reputation beyond reputeluvwelly has a reputation beyond reputeluvwelly has a reputation beyond reputeluvwelly has a reputation beyond repute
Default Re: 20% deposit needed to buy a house from oct

Originally Posted by davros1984 View Post
Madness!
luvwelly is offline  
Old Aug 23rd 2013, 11:37 am
  #43  
BE Forum Addict
 
luvwelly's Avatar
 
Joined: Jul 2007
Posts: 2,285
luvwelly has a reputation beyond reputeluvwelly has a reputation beyond reputeluvwelly has a reputation beyond reputeluvwelly has a reputation beyond reputeluvwelly has a reputation beyond reputeluvwelly has a reputation beyond reputeluvwelly has a reputation beyond reputeluvwelly has a reputation beyond reputeluvwelly has a reputation beyond reputeluvwelly has a reputation beyond reputeluvwelly has a reputation beyond repute
Default Re: 20% deposit needed to buy a house from oct

Originally Posted by MrsFychan View Post
you'll see about 10-15K of that 50K go on moving out here if you intend to ship stuff over and visa's, medicals, flights for everyone. then if you haven't got work you would need to live off the rest so no actual money to play with if things don't work out.
also it doesn't seem like your wife is keen which could be your main hurdle and could cause resentment in the long term.
What Mrsfychan said 100%.
luvwelly is offline  
Old Aug 24th 2013, 7:28 am
  #44  
Forum Regular
 
Joined: Jan 2013
Location: Kapiti
Posts: 63
kitti is on a distinguished road
Default Re: 20% deposit needed to buy a house from oct

Thank you Auckland and Christchurch for screwing things up for the rest of us.
kitti is offline  
Old Aug 24th 2013, 7:33 am
  #45  
Forum Regular
 
Joined: Jan 2013
Location: Kapiti
Posts: 63
kitti is on a distinguished road
Default Re: 20% deposit needed to buy a house from oct

Originally Posted by pippalonghorn View Post
Hi Stu

We moved over here in June 2013, when I say we I mean my hubby, me and my 4 year old daughter. Wow have we struggled. I am the outdoor type and loved the thought of living here. I hadnt found this forum and so came here with my rose tinted specs on

Looking back we would have stayed at home if we knew. It hasnt offered us a better lifestyle and our quality of living has dropped dramatically. But we are living off a very small wage ( around $800 per week). Our rent is $360 and food comes to $220 with no treats included. Then we have petrol to pay. If you are desperate to give it a try then do so but do not use all of your savings to get here. We kept our house in England and we have bonded our savings. We need this to go home next year.

New Zealand is not for everyone but alot of people come over here and love it. You may be one of them. I am speaking from the heart and thats the only advice I can give you. Its your decision at the end of the day. Always keep a little pot of money aside if you do come over.
$220 a week for three of you with no treats? Really?! There's six of us and I spend $250.00 per week with loads of good stuff!
kitti is offline  

Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Do Not Sell or Share My Personal Information -

Copyright © 2023 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.