simonmarkellis

Whats the property market like at the moment. How is it perceived what will happen in the future? Will houses rise, level off or will we see a downturn. Can first time buyers get on the property ladder to drive the prices? A lot of questions but hopefully before i come out i'd like to have a good picture of the situation.

Kippers

Check this story from Sunday's NZ Herald:

http://www.nzherald.co.nz/section/8/...ectid=10414684

I'm of two minds. The prices are getting beyond the ability of the average Kiwi to purchase on NZ wages.
So a lot depends on immigration and foreigners buying for investment/bolt-hole purposes, which happens quite a bit.

Speculation is that if the world turns to custard in the near future, many of the one million(?) Kiwi's living overseas will make a bee-line home looking for somewhere to live.


Kip

kwprwn

what is it with the kiwis saying everything is turning to custard

they seem very fond of this saying at the moment

sorry to divert of thread topic

we have been here since march and have seen a bit of a drop in house prices

Kippers

ROFL
What's wrong.....don't you like custard.

Kip

Gill and Rob

Not to mention a load on non-kiwi's. There was a big immigration surge after 9/11. 9/11 played a small part in prompting us to make a move.

Rob

kwprwn

I love custard

They said last week that the weather was going to turn to custard, and then you said about the world turning to custard, and my husband says they use it at his work, so it just made me laugh, and I wondered why kiwis keep saying it, it must be the 'in phrase' at the moment

PaulGent

hmmmmmmmmm....not like the old days when everyting used to "turn to blancmange" or "jelly" or "semolina".

I actully prefer the 3 stages of things going wrong:

Starting to go bad - "it's going slightly pear-shaped"

Getting worse - "it's all gone t*ts up"

A complete mess - "now it's totally b*ll*cksed" :scared:

Apple12

I think it has been the in phrase for years, just one of those colloquism thingies.

kwprwn

I agree

kwprwn

the custard one has just been something I have heard only in the last week or so

simonmarkellis

Must be a buyers market then whether it be a house or custard you're after...

Kippers

Thinking the non-Kiwi migration would be stopped by the Gov if numbers turned into a flood.
Kiwi citizens only (and partners/children).


Kip

Kippers

Custard fetish aside ............. looks to still be a sellers market in most places.
http://www.stuff.co.nz/3901141a13.html

Kip

simonmarkellis

Can all this last? I've always thought the market was driven by the first time buyer and if they can't afford to buy then surely prices must come down. Mind you i've been saying that for three years in the UK and there still going up and i'm still seeing first time buyers not being able to buy unless parent re-mortgage.

Batty

Hi. I work for a real estate company in the higher end of the market and the only houses that are not selling are where there is an issue with water tightness or the vendors are off their trolleys and expecting ridiculous prices. The huge $100k in six months increases are gone but some people still expect them. I live on a very long road in Glenfield on the North Shore where houses range from 350-550k and there have been loads sold (and loads more for sale) over the last six weeks or so. They're selling really quickly too, IF they're reasonably priced and are in good condition. Reasonably priced doesn't mean cheap, just not taking the P***. I've got a friend here who was born on the North Shore and didn't want to leave it but she and her husband had to buy in Massey because they couldn't afford more than $300k. 100% mortgages are on offer as well and the Government is talking about bringing in a scheme whereby first time buyers buy 50% of the property and rent the other 50% from the Council. There's a bit more to it than that but that's basically the way it works. This has been in force in Ireland for some time now and gets an awful lot of people on the property ladder who otherwise wouldn't have been able to afford it.

Kiwis move around an awful lot too so this keeps the market bouyant. Not many people stay more than 5 years in a house.