Woodlea

Sorry mate, but this is rubbish. Policy is changing to try to stem the tide and there are schemes to help first time buyers and low income buyers. Unless Britain has changed drastically since I left, the government won't be interested in helping people like you buy your first house and it shouldn't do, you are more than able to do it yourself from what you say about your earnings ($10K a month take home!). However it does seem that you don't want to do the hard yards, like having a mortgage for 25-30 years, or starting small or living further out.

davros1984

Well I generally have to disagree with you. Here's why:

1) The policy prices first time buyers out of the market. Requiring a 100-150K deposit is just madness.
2) The schemes you talk about here, we are not eligible for as we apparently earn too much. There are schemes there, but even these schemes will require people to still have a 10% deposit, which in the current market will be at least 50K. (again we are not eligible)
3) Nothing to do with the hard yards, its about the reality of the situation. I work in an industry where there is little job security, taking out a 800K+ mortgage over 25 years would be nothing shy of madness. Secondly, the quality of Kiwi houses and their build quality - in my view, they just are not worth the money at all - especially in comparison to the vast majority of brick and stone UK houses and their cheaper price tags. I know I can buy a decent 3-bed family home for $400K NZD or less and live in area where there is a good choice of jobs. In my view - a smaller mortgage = a less stressful life.
4) I am very prepared to live out further, i.e. Puke. I even went and spent a day in the area last weekend. But again there, prices start at 500K+ - too high for a first time buyer and with rates projected to hit 8% very soon - financial suicide.

I read the british papers everyday on the bus to work via my Kindle. So I would say that I have a reasonable idea of what is going on (and often it seems more than what people at home do!).

Britain appears to be improving, but for me its not so much about the UK getting loads better, its the fact that NZ is getting itself into a deeper hole.
In GB:
a) the economy is growing
b) there is a record number of people in jobs.
c) As I showed earlier in this thread, you can buy a 3-bed house within a 30 minute commute of central London for less than 220K GBP. - (impossible in Auckland).
d) the Help to Buy scheme helps people like me who can afford a mortgage, but do not have a 50K GBP deposit to put down.
Check this out:
http://www.helptobuy.org.uk/
e) Finally... the Tories are bringing in long-overdue measures, capping welfare, making work pay and wanting those who work hard to be able to get on in life - being able to achieve the simple things like being able to buy your first home- exactly what I am trying to do at this stage of my life.

westie1234

Davros have you ever viewed the forum (house prices and the economy section) on housepricecrash.co.uk ?

Woodlea

I don't think you can. You mentioned St Albans in a previous thread, my mum sold her three bedroom rabbit hutch on the outskirts of St Albans for £325k last year and it took a long time to sell. It was built in 1998 in a similar style to NZ builds, timber framed and brick veneer, nothing fancy, no better quality than something of a similar ilk here. It was a 30 minute walk to the station (or a 30 minute drive at rush hour!) At least 40 minutes to Thameslink (£3300/year season ticket!) then the tube to wherever. You'd be looking at nearly 90 mins each way at rush hour. Maybe you could get somewhere cheaper in HH but it wouldn't be as nice.

The news today said the reduction in the use of pre-approved mortgages would take the pressure off the AKL market as it would reduce the number of sales by auction, and there were signs that it was already happening. Auctions always inflate the price - just look at the crap that sells on Trademe! I agree that anyone borrowing $800K to buy their first home in AKL would need their head examined! It's called a property ladder for a reason, you have to start near the bottom. Hopefully the market will cool down. Good luck.

Justcol

Exactly what change are you hoping to initiate by grumbling to others on a website.
I've been here almost 6 years, the houses are different, the foods different, the people and culture are different,some things cost more, some things cost less.
If people cant cope with these things then maybe they should put as much effort into finding a place they can be happy as they do complaining,

RedDragon2008

Some people need to vent (its healthy)

Some people need to get a balanced view/feedback (Poms getting ready to come over)

I don't advocate everyone being capable of being change agents, but voicing opinions is important step. How others interpret or act is for them to work out.

Assanah

So what change are you hoping for? That people simply shut up, pretend everything is great and this forum only discusses how great NZ is? What kind of horrid forum would that be?

Snap Shot

After a ten month absence Justcol you have come back venomous. Even worse than me. To think that I was glad to see you back as I'd wondered how things were going.

You vent on an internet forum discussion to criticise those that vent on an internet discussion forum.

Tom1983

Must be mostly in the North Island for that

It's been a shock to see complaints after complaints on The Press comments section with what's going on with the house pricing. They're not happy with it here but then the insurance side of things hasn't helped.

pippalonghorn

I feel like I have to watch what I put on here at the moment.

Woodlea

Well you shouldn't. I think what irks people the most is generalizations, if you avoid them then you should be able to say what concerns/affects you

davros1984

There are a fair few smug idiots on here who obviously have deep pockets or got here at the "right time" and have blatantly not looked at posts on this thread which clearly show the disparity and most of all, the dire situation that is the Auckland housing market at present. Justcol perhaps.

The generalisations are there because quite frankly, the situation in Auckland as a whole is dire. You just have to stumble over to nzherald or stuff and you can read all about it.

Someone made a comment that I don't put the hard yards in. What do you think I do most weeks and have done for most years? I work 55 hour weeks, I work hard, I regularly study and train (as the goalposts constantly move in IT) and generally dedicate myself to my job. I save well, yet prices of houses here are sick. Also, unless you want to sit in traffic, living far out of Auckland using public transport it is just not possible.

davros1984

Not before, but now I do! Thanks for this. Some really good threads there discussion pros and cons of UK house market at prices at the mo.

Justcol

Excuse me, two and a half years ago I stood in a street practically penniless. I could barely pay the rent on the room I was renting in a shared house.
I was newly self employed at the time which meant I couldnt get a mortgage even if I could have afforded one.
Every spare dollar I had went on child support after a very distressing 25 year marriage breakdown.
I now have a beautiful restored villa on a great section with a pool, three cars on the drive, a motorbike in the garage
and all the nonsense that goes with it
I changed jobs, I now work as a corrections officer so you can look up online what I earn as a basic wage and no I dont do overtime.
Smug idiot !! Deep Pockets !! dont make me laugh sunshine
After 2 years paying ridiculous rents in auckland I simply did what all the moaning sods on here could quite easily do...I left auckland

marblep

Good on you. Leave off the attacks. Doesn't help anyone.