Kiwi born and bred - over it
Aug 13th 2013, 1:27 am
#16
Account Closed
Joined: Mar 2013
Posts: 184
Re: Kiwi born and bred - over it
Nz has gone a bit crazy it's true. On tv last night houses are selling within 24 hours of being listed and desperate people are taking more care and time in buying a car than buying a million dollar property, that is only worth 300k at the most, scary stuff. Hope this is not happening in the uk.
Aug 13th 2013, 1:39 am
#17
Looking for my marbles.
Joined: Jul 2013
Location: durham, durham, England
Posts: 730
Re: Kiwi born and bred - over it
Nz has gone a bit crazy it's true. On tv last night houses are selling within 24 hours of being listed and desperate people are taking more care and time in buying a car than buying a million dollar property, that is only worth 300k at the most, scary stuff. Hope this is not happening in the uk.
Aug 13th 2013, 3:38 am
#18
BE Enthusiast
Joined: Mar 2009
Posts: 696
Re: Kiwi born and bred - over it
Not if you have a right to live and work in the UK. Work permits and immigration in general is tightening up, but the UK will always be a good place for kiwis to do their OE, especially if you have professional qualifications or a specialist degree such as nursing, physiotherapy, teaching, law, social work etc.
Aug 13th 2013, 6:24 am
#21
Truth is the safest lie.
Joined: Jul 2008
Location: @ the beach.
Posts: 7,240
Re: Kiwi born and bred - over it
Bubble is going to run a while yet folks 
.
Deck is stacked to prop up demand (cramming in first time buyers, no move on CGT, very low interest rates etc.) and supply is very constricted (expensive and difficult to get through projects, little high density development). Make no mistake though it's your classic bubble situation.
Just make sure your not the one left standing when the music stops, especially in Auckland.
.Deck is stacked to prop up demand (cramming in first time buyers, no move on CGT, very low interest rates etc.) and supply is very constricted (expensive and difficult to get through projects, little high density development). Make no mistake though it's your classic bubble situation.
Just make sure your not the one left standing when the music stops, especially in Auckland.
Aug 13th 2013, 7:05 am
#22
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Joined: Oct 2003
Posts: 38,611
Re: Kiwi born and bred - over it
Good to know you have a home to return to in the UK. Was a wise move for you.
Aug 13th 2013, 12:25 pm
#24
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Joined: Aug 2012
Posts: 1,213
Re: Kiwi born and bred - over it
Immigrants buy 5% of the houses in New Zealand. English make up just over half of that 5%. Even if all of the English stop buying properties over here it won't make any difference. 
it is the whole system that sucks the living daylight out of hardworking families who don't have the privilege of having a spare 1 to 2 million dollars in the bank. 
it is the whole system that sucks the living daylight out of hardworking families who don't have the privilege of having a spare 1 to 2 million dollars in the bank. Having said that, I was in the process of applying for my visa before the person who passed on the inheritance was even taken ill.
In the past decade I can only recall one person I know under the age of 40 who managed to buy a property without:
a.) A reasonable inheritance
b.) Help from Mum and/or Dad
c.) Some other unlikely windfall
Even of the people I do know who own their own property, irrespective of where the deposit came from, many of them don't do much socially to a man' or woman, citing mortgage repayments.
Personally, I'd rather have a life in my 30's and rent and NOT be answerable to my mortgage provider than spend a decade being a hermit and basically working to live.
Whilst I understand the notion of buying property for investment, to make more money I don't understand the obsession of the need to own a home - over the term of a mortgage it is a pretty ropey 'investment'.
That said, you don't get great value in the Auckland rental market.
Most people will end up actually spending more than double what they borrowed to own a home over the term of their repayments, this doesn't take in to account paying for the upkeep, redecoration and renovation of that home.
The Central Europeans have a renting culture, particularly in Germany.
Berlin is a great example. A fantastic city to visit and I have on good authority an even better city to live and work in.
Rents are relatively very low in Berlin, which in my opinion is one of the key reason Berlin is a particularly lively and lovely city. People can enjoy themselves en mass.
Whilst we all jump on the backs of the banks, which isn't entirely wrong, there has been irresponsible lending.
But perhaps as a society we should also look in mirror and realise that stretching yourself so hard to simply own a home is not living, there has also been plenty of people guilty of irresponsible borrowing.
We can not place the blame solely on banks and the government. Society is also answerable to its self.
Even my own family used the phrase 'stretch yourself as far as you can'.
What poppycock. Why an earth would I voluntarily put myself on the precipice of of financial suicide for 30 years, or more?
It will never cease to amaze me how people are wiling to let the will (desperation) of owning something they may never actually pay off blind them from the fact they are likely to make their own life more dull and more stressful than it should be.
Disclaimer;
A. I realise some people have it very tough and have no choice but to rent and still struggle hugely
B. I am not criticising all people with mortgages, just those who have cut their nose of the spite their face in the desperation to own a property.
Last edited by TommyLuck; Aug 13th 2013 at 12:28 pm.
Aug 13th 2013, 8:01 pm
#25
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Joined: Jan 2010
Location: In the middle of the continent
Posts: 2,405
Re: Kiwi born and bred - over it
I don't think that you should rent long term in NZ. The laws protecting you are not there. You will always be at the mercy of your landlord. You will never be able to call a rental property your home. In Berlin the situation is completely different - lots of laws protecting the renter. Less freedom in Berlin? Yes, for landlords, no for renters. In NZ it is the other way around.
If I were to stay in NZ I would definitely look to buy sooner or later. Buying now in Auckland is of course absolute madness. Bad situation and another good reason for me to leave
If I were to stay in NZ I would definitely look to buy sooner or later. Buying now in Auckland is of course absolute madness. Bad situation and another good reason for me to leave
Aug 13th 2013, 9:13 pm
#26
Looking for my marbles.
Joined: Jul 2013
Location: durham, durham, England
Posts: 730
Re: Kiwi born and bred - over it
I'm not really in a position to argue, indirectly benefitting from my wifes recent inheritance.
Having said that, I was in the process of applying for my visa before the person who passed on the inheritance was even taken ill.
In the past decade I can only recall one person I know under the age of 40 who managed to buy a property without:
a.) A reasonable inheritance
b.) Help from Mum and/or Dad
c.) Some other unlikely windfall
Even of the people I do know who own their own property, irrespective of where the deposit came from, many of them don't do much socially to a man' or woman, citing mortgage repayments.
Personally, I'd rather have a life in my 30's and rent and NOT be answerable to my mortgage provider than spend a decade being a hermit and basically working to live.
Whilst I understand the notion of buying property for investment, to make more money I don't understand the obsession of the need to own a home - over the term of a mortgage it is a pretty ropey 'investment'.
That said, you don't get great value in the Auckland rental market.
Most people will end up actually spending more than double what they borrowed to own a home over the term of their repayments, this doesn't take in to account paying for the upkeep, redecoration and renovation of that home.
The Central Europeans have a renting culture, particularly in Germany.
Berlin is a great example. A fantastic city to visit and I have on good authority an even better city to live and work in.
Rents are relatively very low in Berlin, which in my opinion is one of the key reason Berlin is a particularly lively and lovely city. People can enjoy themselves en mass.
Whilst we all jump on the backs of the banks, which isn't entirely wrong, there has been irresponsible lending.
But perhaps as a society we should also look in mirror and realise that stretching yourself so hard to simply own a home is not living, there has also been plenty of people guilty of irresponsible borrowing.
We can not place the blame solely on banks and the government. Society is also answerable to its self.
Even my own family used the phrase 'stretch yourself as far as you can'.
What poppycock. Why an earth would I voluntarily put myself on the precipice of of financial suicide for 30 years, or more?
It will never cease to amaze me how people are wiling to let the will (desperation) of owning something they may never actually pay off blind them from the fact they are likely to make their own life more dull and more stressful than it should be.
Disclaimer;
A. I realise some people have it very tough and have no choice but to rent and still struggle hugely
B. I am not criticising all people with mortgages, just those who have cut their nose of the spite their face in the desperation to own a property.
Having said that, I was in the process of applying for my visa before the person who passed on the inheritance was even taken ill.
In the past decade I can only recall one person I know under the age of 40 who managed to buy a property without:
a.) A reasonable inheritance
b.) Help from Mum and/or Dad
c.) Some other unlikely windfall
Even of the people I do know who own their own property, irrespective of where the deposit came from, many of them don't do much socially to a man' or woman, citing mortgage repayments.
Personally, I'd rather have a life in my 30's and rent and NOT be answerable to my mortgage provider than spend a decade being a hermit and basically working to live.
Whilst I understand the notion of buying property for investment, to make more money I don't understand the obsession of the need to own a home - over the term of a mortgage it is a pretty ropey 'investment'.
That said, you don't get great value in the Auckland rental market.
Most people will end up actually spending more than double what they borrowed to own a home over the term of their repayments, this doesn't take in to account paying for the upkeep, redecoration and renovation of that home.
The Central Europeans have a renting culture, particularly in Germany.
Berlin is a great example. A fantastic city to visit and I have on good authority an even better city to live and work in.
Rents are relatively very low in Berlin, which in my opinion is one of the key reason Berlin is a particularly lively and lovely city. People can enjoy themselves en mass.
Whilst we all jump on the backs of the banks, which isn't entirely wrong, there has been irresponsible lending.
But perhaps as a society we should also look in mirror and realise that stretching yourself so hard to simply own a home is not living, there has also been plenty of people guilty of irresponsible borrowing.
We can not place the blame solely on banks and the government. Society is also answerable to its self.
Even my own family used the phrase 'stretch yourself as far as you can'.
What poppycock. Why an earth would I voluntarily put myself on the precipice of of financial suicide for 30 years, or more?
It will never cease to amaze me how people are wiling to let the will (desperation) of owning something they may never actually pay off blind them from the fact they are likely to make their own life more dull and more stressful than it should be.
Disclaimer;
A. I realise some people have it very tough and have no choice but to rent and still struggle hugely
B. I am not criticising all people with mortgages, just those who have cut their nose of the spite their face in the desperation to own a property.
I totally agree. It is madness out there at the minute.
I wanted to sell our house in England before we came over ( I was wearing my rosé tinted glasses at the time) 
thank god hubby said NO! The money still would not have helped. The economy would improve hugely if prices dropped. People would have more disposable income to spend in shops etc. Thats why England hit a recession. It's not nice living through it.
BEVS I forgot about the bubble bursting in the 80s. Was just a child but I do remember mam and dad struggling.
Aug 13th 2013, 10:32 pm
#27
`
Joined: Oct 2003
Posts: 38,611
Re: Kiwi born and bred - over it
In the past decade I can only recall one person I know under the age of 40 who managed to buy a property without:
a.) A reasonable inheritance
b.) Help from Mum and/or Dad
c.) Some other unlikely windfall
Even of the people I do know who own their own property, irrespective of where the deposit came from, many of them don't do much socially to a man' or woman, citing mortgage repayments.
The Central Europeans have a renting culture, particularly in Germany.
Aug 13th 2013, 10:51 pm
#28
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Joined: Oct 2011
Location: Wellington - I miss Castles, the NHS & English school system
Posts: 9,077
Re: Kiwi born and bred - over it
Belgium is also a rental country.
I'm of the generation where you were told to get on the property ladder as soon as you can as it was the best investment around. yes advice given before the crash of the 80's and I think because it was also "the thing to do" sort of mantra from the adults around me at the time my brain has been tainted to think that is the best option.
Nowadays and now with more experience and a wider social base, be it social media or personal experience I'm not so sure its is the way forward and some days regret having bought here and then some days not.
I like the idea of renting and being able to move around, see and experience different area's but then I have kids so realistically how would we manage to do that without upsetting their schooling? Decent rentals can be few and far between and having experienced 6mths in a rather rough one I know I need certain standards.
I've never approached a mortgage broker with "We earn this much so how much can you lend me?" but always "I'm prepared to spend this amount per month on a mortgage, how much can you give me?"
I think with hindsight (what a great thing) it might of been best to of waited a while before deciding we had to buy but with my upbringing and the 6mths in the rough rental we really didn't stand a chance
.
Don't get me wrong I like my house there's just something niggling at me and I'm not sure what it is - might just be winter and the wind - you know I hate the wind don't you
I'm of the generation where you were told to get on the property ladder as soon as you can as it was the best investment around. yes advice given before the crash of the 80's and I think because it was also "the thing to do" sort of mantra from the adults around me at the time my brain has been tainted to think that is the best option.
Nowadays and now with more experience and a wider social base, be it social media or personal experience I'm not so sure its is the way forward and some days regret having bought here and then some days not.
I like the idea of renting and being able to move around, see and experience different area's but then I have kids so realistically how would we manage to do that without upsetting their schooling? Decent rentals can be few and far between and having experienced 6mths in a rather rough one I know I need certain standards.
I've never approached a mortgage broker with "We earn this much so how much can you lend me?" but always "I'm prepared to spend this amount per month on a mortgage, how much can you give me?"
I think with hindsight (what a great thing) it might of been best to of waited a while before deciding we had to buy but with my upbringing and the 6mths in the rough rental we really didn't stand a chance
. Don't get me wrong I like my house there's just something niggling at me and I'm not sure what it is - might just be winter and the wind - you know I hate the wind don't you
Aug 13th 2013, 11:09 pm
#29
BE Enthusiast
Joined: Mar 2005
Posts: 613
Re: Kiwi born and bred - over it
Agree with lots of the comments here about the stupidity of the Auckland housing market. I think one of the reasons Auckland is such a dead, boring city to live in is because most folks are too busy paying their mortgage to get out and enjoy life.
Aug 13th 2013, 11:34 pm
#30
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Joined: Jun 2010
Location: Peterborough, Cambridgeshire
Posts: 2,744
Re: Kiwi born and bred - over it
We can not place the blame solely on banks and the government. Society is also answerable to its self.
Why an earth would I voluntarily put myself on the precipice of of financial suicide for 30 years, or more?
It will never cease to amaze me how people are wiling to let the will (desperation) of owning something they may never actually pay off blind them from the fact they are likely to make their own life more dull and more stressful than it should be.
I am not criticising all people with mortgages, just those who have cut their nose off to spite their face in the desperation (or some cases, greed)to own a property.
