Originally Posted by TommyLuck

It's a tough mental exercise buying in Auckland at the moment.

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.

Originally Posted by barnsleymat

and piss poor housing costs us more of our wages than other countries.

http://www.nzherald.co.nz/nz/news/ar...ectid=11152041

Originally Posted by Justcol

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

Originally Posted by Northern Henry

The sceptic in me notices this thread is sounding very much like the broken record that is the London vs the rest of the UK moaning..
"£500k for a one bedroom flat, ridiculous! I could buy a 5 bed detached house in Yorkshire for that!".....
Surely if you don't want or need to live in Auckland and have to decide on purchasing, its not an issue? or are the further flung places just hinting at sour grapes, as their own property value isn't travelling north at the same rate?

Just putting it out there?

Originally Posted by Northern Henry

The sceptic in me notices this thread is sounding very much like the broken record that is the London vs the rest of the UK moaning..
"£500k for a one bedroom flat, ridiculous! I could buy a 5 bed detached house in Yorkshire for that!".....
Surely if you don't want or need to live in Auckland and have to decide on purchasing, its not an issue? or are the further flung places just hinting at sour grapes, as their own property value isn't travelling north at the same rate?

Just putting it out there?

Originally Posted by Caryatid

Location, location, location. Meaning it doesn't matter what it is but where it is. In my mind London is a location with so much to offer but Auckland...beaches - you can get these everywhere else in NZ , brothels? and boats; if you are into sailing it is THE location.

Originally Posted by pippalonghorn

couldn't have written better myself

But unfortunately there are lots of people who have to live in and near to Auckland as that's where their jobs are. With the local transport being so crap it makes it harder to commute, especially if you arnt lucky enough to own 2 cars.