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Areas to live in NZ - lots of questions!

Areas to live in NZ - lots of questions!

Old Jan 26th 2023, 4:03 am
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Default Re: Areas to live in NZ - lots of questions!

Originally Posted by Justcol
That's the thing with Cambridge, they don't have to be big houses. Both of my houses there are now valued at around 1.3 million each. They are just yet average homes 😳
Wow, how do people manage to buy those kind of homes?
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Old Feb 21st 2023, 5:11 pm
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Default Re: Areas to live in NZ - lots of questions!

Originally Posted by Assanah
Wow, how do people manage to buy those kind of homes?
Oh they manage all right. The lot next door to us are all a million plus new build houses on handkerchief sized plots. At least 4 of those are 2nd/3rd properties.

Some of it is about 'family trusts' . Expended family stuff. Some of it is ex large family land and property which is then sub-divided and creates a form of wealth . Some of it is no bluddy capital gains tax. Some of it is low interest rates.

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Old Feb 22nd 2023, 7:18 pm
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Default Re: Areas to live in NZ - lots of questions!

Originally Posted by Assanah
Wow, how do people manage to buy those kind of homes?
The prices are massively inflated.
I bought my first NZ house in Cambridge in 08 for just over 400k brand new. If id stayed in it, it would be paid for by now and I would be sitting on 1.4 million now. It's silly money.
A Few years later I bought another place in Cambridge that pretty much trebled in price in 2 years. I cashed in and moved to otago mortgage and debt free, and I have no plans to leave.
Even here in my sleepy wee town, the price of my place has more than doubled in about 4 years. It's absolutely insane and despite the current downward dip, it will continue to climb over the next few years.
first time buyers haven't got a chance

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