Current Housing market Info NZ (Herald)August 2008
Aug 10th 2008, 12:05 am
#1
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Thread Starter
Joined: Aug 2008
Location: Bournemouth/Dorset
Posts: 81
Current Housing market Info NZ (Herald)August 2008
Great article from the 10th of August 2008 in the NZ Herald about the current housing market
Just wanted to share this with you....
http://www.nzherald.co.nz/section/3/...ectid=10526178
Just wanted to share this with you....
http://www.nzherald.co.nz/section/3/...ectid=10526178
Aug 10th 2008, 1:55 am
#2
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Joined: Jun 2008
Posts: 87
Re: Current Housing market Info NZ (Herald)August 2008
NZ house prices are as overvalued as in the UK. Where I live in Wellington, rent is about 60% of the cost of an interest-only mortgage to buy a similar house.
House prices will have to fall by at least 30% (in real terms) before I would consider buying here - I expect that will take 3 to 5 years. In the meantime, I'm going to build up my deposit and let someone else pay for rates and maintenance.
House prices will have to fall by at least 30% (in real terms) before I would consider buying here - I expect that will take 3 to 5 years. In the meantime, I'm going to build up my deposit and let someone else pay for rates and maintenance.
