Originally Posted by davros1984

After speaking with ANZ they were very clear that we'd have to be eligible for the welcome home scheme to qualify for a 90% mortgage - which we are not. They require us to have a 20% deposit. ASB have also said the same.


They also said that even if we did somehow get the nod for 90%, that we would be penalised with higher rates.

Maybe I need to look at other banks, but even so, with prices the way they are - it doesn't seem realistic.

Bellasmum - all good and all forgiven, sorry for my earlier outburst.

To me it is clear, NZ only want you here if you are stinking rich i.e. an investor. There is no incentive to get younger familes, successful people etc (especially doctors) onto the housing ladder.

My partner is a nurse and she's had conversations with the doctors at work. Most of those doctors who don't have property here are already planning their move overseas. Secondly, the doctors who have houses have made it clear that they couldn't buy a house in today's market (as subjective as that is).

RedDragon - message me when you're here, a coffee or beer, as well as a bitch about the current state of things! Otherwise all is good, I hope I've made it clear that I do actually really like NZ. I will miss my trips to Waikato stadium.

Originally Posted by shocked kiwi

I agree with the bit about only wanting investors in NZ, shutting 1st home buyers will not lower the prices of houses at all, but what it will do is allow more houses available for the investors, many of whom are not even living here or have no association with nz at all. What scares me is if there is a whole generation of renters, then what will these people do when they reach retirement age as they won't have an asset, and without a job how will they pay rent? The argument is that in many european countries such as switzerland and sweden they rent as well and don't buy, but isn't the difference there that they guarantee you a good standard of living in old age?
Apparently if you are living here you just have to roll over and put up with overseas investors ruling the roost and then on talk back radio they will quickly change the subject and talk about "something positive" such as how kiwis are the happiest in the world or some such thing - ( me tearing hair out, grabbing another glass of wine!) ha ha

Originally Posted by westie1234

Introduce a capital gains tax to take pressure off house prices.

Originally Posted by westie1234

Hopefully Labour can make some changes if they get in.

Labour's commitments
Put 100,000 Kiwi families into their first home through KiwiBuild.
Restrict the ability of non-residents to purchase New Zealand houses.
Require landlords to ensure every rental house in New Zealand is warm and dry.
Create new jobs, 2,000 apprenticeships and give a $2 billion boost to the economy through KiwiBuild.
Introduce a capital gains tax to take pressure off house prices.
Introduce a National Policy Statement to ensure Councils are more likely to approve projects involving affordable housing.

Originally Posted by westie1234

Hopefully Labour can make some changes if they get in.

Labour's commitments
Put 100,000 Kiwi families into their first home through KiwiBuild.
Restrict the ability of non-residents to purchase New Zealand houses.
Require landlords to ensure every rental house in New Zealand is warm and dry.
Create new jobs, 2,000 apprenticeships and give a $2 billion boost to the economy through KiwiBuild.
Introduce a capital gains tax to take pressure off house prices.
Introduce a National Policy Statement to ensure Councils are more likely to approve projects involving affordable housing.

Originally Posted by trafford

still the first time buyers or those on lower incomes (even teachers, nurses etc) find it difficult to get on the property ladder in some regions.

Originally Posted by MOSO

Much as people would like to, not everyone can move to cheaper areas of either country because of work.

Originally Posted by Tom1983

ASB have got rid of all of there's

Originally Posted by shocked kiwi

I agree with the bit about only wanting investors in NZ, shutting 1st home buyers will not lower the prices of houses at all, but what it will do is allow more houses available for the investors

Originally Posted by MOSO

Certainly I wouldn't be paying 300k for a boxy little flat. sure the problem does exist but at least there is that thing called choice in the UK.


Neither would I, but I guess the point is that the 2 bed $600,000 box has sold whereas the larger properties which are in much less 'desirable' locations and a long way from public transport haven't.

Isn't that choice available in Auckland too? If you wanted to live over an hour's commute from the central city in a much less desirable/nice area not near public transport options it would cost much less.

There are so many factors - transport, work, schools, socio-economics, desirability and I guess all cities and a lot of towns have the same issues, I still don't think it's a NZ thing. Long gone are the days of getting first time buyer 105% mortgages! Prices in Sydney for example make me go

Originally Posted by pippalonghorn

I think a lot of people are pushing their budget to the limit in order to buy a home. It has just been on the news that banks are expecting the home loan interest rates to go up to around 8% in the next two years. With the cost of house prices being so high, 8% can mean a significant increase which may result in people loosing their homes. For an investor it's a win win situation. More houses to buy now and even more re-possessions in the future.

Originally Posted by davros1984

pretentious suburb like Epsom or Ellerslie (my idea of hell)..

Originally Posted by davros1984

2 of the houses I listed were in Hemel Hempstead. HH is close to St Albans and has a 30-minute direct train service to London Euston - which is pretty impressive.