Proof Kiwi rip-off housing!
#226
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Joined: Mar 2013
Posts: 184
Re: Proof Kiwi rip-off housing!
I have had numerous conversations with people about the "bubble bursting" and there seems to be no concern. People think that as long as there is a demand for properties, then there will be no problems. It can't go on forever. When the market does slow down and eventually house prices drop, all of the ones who paid excess amounts for their properties will be hit very hard. Even a rise in interest rates will eventually happen. I would never wish horrible things for those people but it will happen wether it is now or 5 years time... What's the alternative.... Paying $2, $3 or even $4 million for a wooden house?
Last edited by shocked kiwi; Nov 4th 2013 at 6:16 am.
#227
Forum Regular
Joined: Jan 2013
Posts: 137
Re: Proof Kiwi rip-off housing!
The bubbles not gonna burst as long as the chinese or other wealthy asian investors want to come here and buy houses - they just pay cash, they buy 900k apartments for their kids to live in while they are studying at uni, (in my day students lived in hovels with 10others or else student halls). It sux that people already living here earning kiwi dollar are being pushed out but the young all plan to go overseas anyway so they don't complain. An example of a global world I guess!
#228
Forum Regular
Joined: Jan 2013
Posts: 137
Re: Proof Kiwi rip-off housing!
So I saw this on the Herald site today, what a grim grim picture indeed:
http://www.nzherald.co.nz/residentia...ectid=11146480
I went down to Belmont yesterday (where this series of the Block was filmed) and had a quick look at the houses that sold for 1million+!!! There were quite a few people there looking, some thought that they were great value for money and amazingly modern houses. Here is another example that indicates the above: http://www.nzherald.co.nz/residentia...ectid=11149078
I guess it shows that the UK and NZ are worlds apart in terms of "modern" and "quality" (brick/double glazing/insulation/structurally sound). They were paying $1500-2000 for basic wooden tables, the sort of table you can buy in Argos or Ikea for less than 200 quid.
I was totally staggered. They are on a small section, all overlooked and are right on the main road between Devonport and Takapuna. They were classic white-painted (and a bit of cream in spots) wooden houses with very old-fashioned wooden single-glazed windows. And yes, my favourite - the tin roof.
I hope now the message is sinking into the average joe's head - Auckland is no longer a viable option unless you are very cashed up (you'd need a 200K NZD deposit to buy one of those 3-bed houses!)
http://www.nzherald.co.nz/residentia...ectid=11146480
I went down to Belmont yesterday (where this series of the Block was filmed) and had a quick look at the houses that sold for 1million+!!! There were quite a few people there looking, some thought that they were great value for money and amazingly modern houses. Here is another example that indicates the above: http://www.nzherald.co.nz/residentia...ectid=11149078
I guess it shows that the UK and NZ are worlds apart in terms of "modern" and "quality" (brick/double glazing/insulation/structurally sound). They were paying $1500-2000 for basic wooden tables, the sort of table you can buy in Argos or Ikea for less than 200 quid.
I was totally staggered. They are on a small section, all overlooked and are right on the main road between Devonport and Takapuna. They were classic white-painted (and a bit of cream in spots) wooden houses with very old-fashioned wooden single-glazed windows. And yes, my favourite - the tin roof.
I hope now the message is sinking into the average joe's head - Auckland is no longer a viable option unless you are very cashed up (you'd need a 200K NZD deposit to buy one of those 3-bed houses!)
As to wooden houses; you can build a good solid wooden framed house but the norms in NZ don't seem to promote this. I generally think the NZ take on housing is pretty awful. There is little high quality, high density housing just awful sprawling suburbs. In what used to be character leafy suburbs the 1/4 acres sections have been divided and redivided to make...
#229
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Joined: Jun 2003
Location: North Shore, Auckland
Posts: 688
Re: Proof Kiwi rip-off housing!
I don't mind my wooden NZ house. We've got it well insulated and I love the wood burner in the winter. True, it doesn't get so cold around here that we suffer because of the type of building - no double glazing, single heat source etc, but it does suit the climate. I dread to think what something like a typical kiwi shed would be like to live in somewhere like Turangi where it would get pretty chilly in winter.
One thing the kiwis have right IMHO is indoor-outdoor flow. And open plan living. And whilst I do miss IKEA, it does mean that all the homes are not kitted out the same.
I love having all the fruit trees in the yard, having my own section, driveway, garage. And looking out to a beautiful green vista. In UK we had a really nice house, but it was still just a terrace house with no parking and a microscopic back yard.
One thing the kiwis have right IMHO is indoor-outdoor flow. And open plan living. And whilst I do miss IKEA, it does mean that all the homes are not kitted out the same.
I love having all the fruit trees in the yard, having my own section, driveway, garage. And looking out to a beautiful green vista. In UK we had a really nice house, but it was still just a terrace house with no parking and a microscopic back yard.
#230
Forum Regular
Joined: Jan 2013
Posts: 137
Re: Proof Kiwi rip-off housing!
I don't mind my wooden NZ house. We've got it well insulated and I love the wood burner in the winter. True, it doesn't get so cold around here that we suffer because of the type of building - no double glazing, single heat source etc, but it does suit the climate. I dread to think what something like a typical kiwi shed would be like to live in somewhere like Turangi where it would get pretty chilly in winter.
One thing the kiwis have right IMHO is indoor-outdoor flow. And open plan living. And whilst I do miss IKEA, it does mean that all the homes are not kitted out the same.
I love having all the fruit trees in the yard, having my own section, driveway, garage. And looking out to a beautiful green vista. In UK we had a really nice house, but it was still just a terrace house with no parking and a microscopic back yard.
One thing the kiwis have right IMHO is indoor-outdoor flow. And open plan living. And whilst I do miss IKEA, it does mean that all the homes are not kitted out the same.
I love having all the fruit trees in the yard, having my own section, driveway, garage. And looking out to a beautiful green vista. In UK we had a really nice house, but it was still just a terrace house with no parking and a microscopic back yard.
#231
BE Enthusiast
Joined: Mar 2005
Posts: 613
Re: Proof Kiwi rip-off housing!
So I saw this on the Herald site today, what a grim grim picture indeed:
http://www.nzherald.co.nz/residentia...ectid=11146480
I went down to Belmont yesterday (where this series of the Block was filmed) and had a quick look at the houses that sold for 1million+!!! There were quite a few people there looking, some thought that they were great value for money and amazingly modern houses. Here is another example that indicates the above: http://www.nzherald.co.nz/residentia...ectid=11149078
I guess it shows that the UK and NZ are worlds apart in terms of "modern" and "quality" (brick/double glazing/insulation/structurally sound). They were paying $1500-2000 for basic wooden tables, the sort of table you can buy in Argos or Ikea for less than 200 quid.
I was totally staggered. They are on a small section, all overlooked and are right on the main road between Devonport and Takapuna. They were classic white-painted (and a bit of cream in spots) wooden houses with very old-fashioned wooden single-glazed windows. And yes, my favourite - the tin roof.
I hope now the message is sinking into the average joe's head - Auckland is no longer a viable option unless you are very cashed up (you'd need a 200K NZD deposit to buy one of those 3-bed houses!)
http://www.nzherald.co.nz/residentia...ectid=11146480
I went down to Belmont yesterday (where this series of the Block was filmed) and had a quick look at the houses that sold for 1million+!!! There were quite a few people there looking, some thought that they were great value for money and amazingly modern houses. Here is another example that indicates the above: http://www.nzherald.co.nz/residentia...ectid=11149078
I guess it shows that the UK and NZ are worlds apart in terms of "modern" and "quality" (brick/double glazing/insulation/structurally sound). They were paying $1500-2000 for basic wooden tables, the sort of table you can buy in Argos or Ikea for less than 200 quid.
I was totally staggered. They are on a small section, all overlooked and are right on the main road between Devonport and Takapuna. They were classic white-painted (and a bit of cream in spots) wooden houses with very old-fashioned wooden single-glazed windows. And yes, my favourite - the tin roof.
I hope now the message is sinking into the average joe's head - Auckland is no longer a viable option unless you are very cashed up (you'd need a 200K NZD deposit to buy one of those 3-bed houses!)
#232
Re: Proof Kiwi rip-off housing!
There is nothing wrong with a wooden house if it is insulated and heated appropriately. The character villas are gorgeous. I just wouldn't pay a million dollars for one. The wooden houses where I come from are a lot cheaper than the brick ones and are usually built on holiday parks etc. we do build brick houses with attractive wood cladding which look nice but again are insulated and heated.
over here I couldn't even afford to buy a garage (although it may be a better option, there are some nice looking garages up my street!)
over here I couldn't even afford to buy a garage (although it may be a better option, there are some nice looking garages up my street!)
#233
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Joined: Jul 2007
Location: bottom of the world
Posts: 4,533
Re: Proof Kiwi rip-off housing!
looking on trade me theres barely a price listed for any houses, everything is auction or by negotiation
which I read as" if we printed the price we think your stupid enough to pay you'd think we were taking the piss"
which I read as" if we printed the price we think your stupid enough to pay you'd think we were taking the piss"
#234
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Joined: Jun 2003
Location: North Shore, Auckland
Posts: 688
Re: Proof Kiwi rip-off housing!
No-one dare put a price on the property at the moment, as prices are just going up and up, and the cycle continues as each property is sold for more than the last one in the street... The only ones winning are buyers who are moving on - from, say Auckland out to elsewhere in NZ. Silly.
#235
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Joined: Jul 2007
Location: bottom of the world
Posts: 4,533
Re: Proof Kiwi rip-off housing!
I mean look at this shack, its gonna go for over half a million and its even on a cross leased title.
I find the whole thing extremely funny but good luck to those cashing in and shipping out
http://www.trademe.co.nz/property/re...-654603147.htm
I find the whole thing extremely funny but good luck to those cashing in and shipping out
http://www.trademe.co.nz/property/re...-654603147.htm
#236
Forum Regular
Joined: Nov 2013
Posts: 166
Re: Proof Kiwi rip-off housing!
Reclaim the Manukau harbour and the Hauraki Gulf and build a collection of shoebox style wooden sheds (the iconic kiwi home - I just sold one)
Get ol' Len to "negotiate" with Skycity - 138 more pokie machines for taking on the financial burden - This way the Affluent Asian gamblers can pay for and then buy the houses theyve just paid to build.
Also build another road in and out of Auckland instead of the one we have at the moment perhaps Skycity could pay for this too just install blackjack tables instead of a central reservation.
*Please note this comment is in no way meant to be taken as serious.
Get ol' Len to "negotiate" with Skycity - 138 more pokie machines for taking on the financial burden - This way the Affluent Asian gamblers can pay for and then buy the houses theyve just paid to build.
Also build another road in and out of Auckland instead of the one we have at the moment perhaps Skycity could pay for this too just install blackjack tables instead of a central reservation.
*Please note this comment is in no way meant to be taken as serious.
#237
Forum Regular
Joined: Jan 2013
Posts: 137
Re: Proof Kiwi rip-off housing!
Reclaim the Manukau harbour and the Hauraki Gulf and build a collection of shoebox style wooden sheds (the iconic kiwi home - I just sold one)
Get ol' Len to "negotiate" with Skycity - 138 more pokie machines for taking on the financial burden - This way the Affluent Asian gamblers can pay for and then buy the houses theyve just paid to build.
Also build another road in and out of Auckland instead of the one we have at the moment perhaps Skycity could pay for this too just install blackjack tables instead of a central reservation.
*Please note this comment is in no way meant to be taken as serious.
Get ol' Len to "negotiate" with Skycity - 138 more pokie machines for taking on the financial burden - This way the Affluent Asian gamblers can pay for and then buy the houses theyve just paid to build.
Also build another road in and out of Auckland instead of the one we have at the moment perhaps Skycity could pay for this too just install blackjack tables instead of a central reservation.
*Please note this comment is in no way meant to be taken as serious.
#238
Forum Regular
Joined: Nov 2013
Posts: 166
Re: Proof Kiwi rip-off housing!
In my head I'm already there.
#239
Forum Regular
Joined: Jan 2013
Posts: 137
Re: Proof Kiwi rip-off housing!
There is nothing wrong with a wooden house if it is insulated and heated appropriately. The character villas are gorgeous. I just wouldn't pay a million dollars for one. The wooden houses where I come from are a lot cheaper than the brick ones and are usually built on holiday parks etc. we do build brick houses with attractive wood cladding which look nice but again are insulated and heated.
over here I couldn't even afford to buy a garage (although it may be a better option, there are some nice looking garages up my street!)
over here I couldn't even afford to buy a garage (although it may be a better option, there are some nice looking garages up my street!)
The best times were spent at the beach!
#240
Re: Proof Kiwi rip-off housing!
Auctions are basically a show then the auctioneers and real estate agents seem to revel in.
We had a bit of fortune;
Viewed an apartment (the one we ended up buying).
Didn't go to the auction because something better came up.
Lost out on that, moved on.
Decided a third property was also a better option.
Re-evaulated our longer term property stratgey after noticing the apartment we live in now was STILL on the market (over 4 weeks later).
I called the estate agent who said, verbatim "$595k will get it for you tonight". True enough we bought it for exactly that.
When we initially went to the open home they expected mid to high $600k's for the property. It turn out that at auction the place didn't get up to what the vendor wanted and that two bidders and the vendor we haggling over the price.
The vendor got fed up and was looking at letting the place out, until I called and had the deal done within 48 hours.
If this auction culture carries on I have half a mind to try an repeat the same process. Find a property we like, but not actually get involved in bidding but keeping an eye on the progress of the sale. And, if for whatever reason it doesn't sell at auction give it a week or two, if it's still not sold then do some digging.
This require having time to bide of course, but I suppose patience is the key anyway - many people get thier heart broken at auction (or weep when having to open thier wallet).
Incidentally a similar place sold for $650k across the road from us 6 months earlier, so all told we think we got a good deal - providing the arse doesn't fall out of the Auckland property market.
Last edited by TommyLuck; Nov 5th 2013 at 10:40 pm.