Clappy

I note that Auckland Grammar is mentioned in the first sentence of the marketing blurb. I suspect that the target market for these types of places are people overseas that want their children to go to one of the more prestigious Auckland schools. Once those children have grown up the property will cease to have any value to those people and they won't care that its value slowly depreciates to worthless.

SSky

I just can't believe the lease costs, bloody hell you'd have to be well rich to even consider this wouldn't you!
Property like this just turns me off, not the reason I came to NZ. I came for the clean, green spacious version of NZ

wez130

Not that i'd consider this, but what's the catch in these ones? There seem to be a few in the same building, yes, 2 single bedrooms, but freehold in City Centre for under $300k?

Freehold, 2 Single bedrooms in Auckland CBD - realestate.co.nz

escapedtonz

As far as I can tell it isn't an apartment as you'd expect. They are just lockable bedrooms with a shared bathroom and shared kitchen ?
Also will be strictly for student accommodation I'd expect.....non stop partying and beer....WAIT! How much. I'll have one

Bo-Jangles

Just Google the address: Princeton Apartments :: Auckland Budget Apartments Accommodations | Affordable | Budget | Cheap | Apartments |Hotel |Accommodation | Auckland | New Zealand

The lower budget / small apartments in the CBD will predominantly be investment properties bought for the primary purpose of leasing to students.


ETA :
https://www.tripadvisor.co.nz/Hotel_...th_Island.html

Angeshirl

I read this article last night and I honestly think this is the most depressing one written about the whole 'crisis' yet.
Are we really heading back to Victorian times? It's so utterly draining.

Generation blessed - housing crisis sparks return to inherited wealth and class - Business - NZ Herald News

wez130

It's amazing isn't it, Here in England, my wife and i both earn a decent living, we're probably in the top 20 percentile of earners as a family in the UK, but there's no way we could afford a house in Auckland or its suburbs. We'd be apying half our wage out nearly in mortgage payments.

What kind of life is that!

Shirrom

So how on earth do first time buyers manage to buy a house? Is all of NZ like this?

wez130

No, there are many areas where property is dirt cheap (as low as $100k), but these are in deprived areas where there are no prospects for work etc. The price rises are starting to spread out of Auckland now though, Tauranga for example is currently going through a rise in prices, though not quite as expensive yet.

Basically, everyone wants to be in or near Auckland as that's where maybe 2/3rds of the work in north island is. Surely at some point though, the market has to get stagnant, sure, the value of houses may go up, but they aren't going to sell as nobody can afford to.

So what do the rest of us do? we need to balance affordable house prices with length of commute to work. We are looking around Tauranga ourselves now, we spent a couple of nights there last year and we loved the area, it has plenty of opportunities for us and houses are just about still affordable for FTB's like us. (We are looking at around $400k).

davros1984

Honestly don't understand why people would move to the other side of the world and live somewhere like that (a boxy apartment). Those lease costs are crazy, I thought £150 a month in service/lease fees was high!

Has the bridge traffic improved at all? One of my contacts on the ground has finally quit his job in the CBD and has managed to secure a job on the North Shore (finally had enough of the 1+ hour commute each way from browns bay into the CBD).

Shirrom

Whats the opinion on the house and land packages?

wez130

Even land in AKL is expensive, in fact, you'll see listings on trademe for houses for sale for as little as $1, just so the owner can build new on the land.

Angeshirl

Just spent 1 hour 10 minutes on my commute (which is 20 mins with no traffic) and I spent a lot of it thinking. It's not the traffic so much that drives me wild, it's always been that way since I moved here. I've always hated it but I kinda just learned to live with it.
I'm stuck in Auckland for a variety of reasons at the moment some of which I think I'm just going to have to sacrifice and abandon in the next year or so. I've sort of hoped things would get better here and I'm just beginning to see that it won't. So many people abandoning Auckland around me, it's impossible not to want to abandon ship too. It's become a really unhealthy place for me to be. Despite friends, job, groups and my general 'comfort' in Auckland I'm desperately unhappy. I do have to wonder how many others out there are like me. Stuck in thinking there's no other way, hostage to the 'idea' of Auckland.

Genesis

One poster mooted this is just what NZ needs.

https://www.google.co.nz/url?sa=t&rc...37904068,d.dGo

Apparently. One assumes along with any recession will come a housing price correction. Rising house prices only really and truly benefits the minority of folk.

BEVS

No. Much depends on the area. Problemo for a lot of immigrants coming in though is that they need to go where the work is.

Nelson house prices are on the up at the moment, which given the sunshine dollar rate is not much cop for those not already on the first property rung of the ladder.

West Coast of South Island will be cheap however few really want to live out there.

Dunedin seems OK at the mo. No idea about Welly.