ExKiwilass

http://www.stuff.co.nz/business/9143...-costs-652-129

pippalonghorn

I'm not suprised! I'm just not sure why people are still taking risks by buying at a time like this. when the bubble bursts.........

Assanah

It is a mystery to me too.

Kin1of2

http://www.nzherald.co.nz/nz/news/ar...ectid=11122614

Mark Smith

Love it!!! Looks like dirty foreigners like me are adding to the countries woes. Maybe a Labour gov't could confiscate my house and deport my filthy English arse back to the UK Perhaps Murray Horton should look closer to home and address NZ property investors pushing up prices, or Kiwis helping Kiwis in Chch, offering short term rentals at $1200 a week.

pippalonghorn

Wish someone would deport my filthy English bum back to England (but pay for my flights).

Has the person who wrote that article ever been to the UK. We have a property in the UK but cannot afford to buy here. My husband is a sparky too... weird! I think it is a little racist to write stuff like that. New Zealand is not the perfect place they perceive it to be. Sorry im on a rant again.

Mark Smith

Not sure if its racist, parochial perhaps. I've encountered quite a few locals (mostly down south) that presume we poms can march into NZ, visas are simply given to us. Because we are all loaded we buy massive houses for cash etc.
Pretty sure TV3's 3rd degree will be blaming us poms and vilifying those naughty Asians. Pretty sure Winston will be on there tonight, stoking the fires.
Oh and saw this which may be of interest to some:
http://www.stuff.co.nz/the-press/bus...st-home-buyers

Kin1of2

[QUOTE=pippalonghorn;10894938]Wish someone would deport my filthy English bum back to England (but pay for my flights).

davros1984

Great idea, BUT 2 major failings:

a) $485,000 - Auckland - good luck with that.
b) You need to have an income of less than $80,000 to qualify, or $120,000 if there are two or more of you buying together. - Great, penalise those that have studied, worked hard, got a student loan to show it and have pretty much committed the last 10 years of their life to their career and climbing the ladder. Nope - you've done too well, you shouldn't want to be ambitious, slow down and we'll help you.

It should just be a rule for first time buyers that are PR's/Citizens where you are buying a house to actually live in it and is a condition of your first mortgage.

lisamct

I just bought a 2 bedroom, insulated, heated, modernised house on the North Shore for more than $100k less than that so it is still possible.

Mark Smith

After our 4 years at uni, student loans and 11 years of experience I wish my wife and I earned $120,000 PA

davros1984

Congratulations on your house! If you're after 2-beds its perfectly achievable.

It is unlikely for 3-beds though. As stated elsewhere, 400K NZD on a 3-bed is my limit as I know I can get a cracking 3-bed house near a number of major towns and cities in the UK for that.

davros1984

It comes at quite a cost. Zero life, many hours at work and still doesn't feel like you get anywhere! Keep trying though, even with earning 120K its not easy in Auckland.

lisamct

True. I looked at/bid on lots of 2 bedroom places that went for well over $450k so 3 bedrooms is an almost impossible task (as I'm sure your more than aware)
I'm also very aware that I was at the right place at the right time with my property, I got a very good deal as it was a fixed price (in the hope that it selling would help sell the house next door that's also for sale by the same vendor) My agent (bought through a different agency) offered to put it straight back on the market for a fair amount more than I paid for it if I was looking for a quick profit.

Mark Smith

I've probably hit the glass ceiling for my profession, wish I could have studied dentistry, but that's life!