Problem is Steps I can see these silly 30% increases next year too and
maybe the year after. They get away with it once they will try again.
Yep totally agree.. it logical.. we HAVE bureaucrats with no foresight or common-sense...Have.. that means they are still there.. attempting to 'fix' something they have screwed so bad they cant do so.. because of the shortage of infer structure is so far behind, and current population growth rate
IT is beyond fixing now.... but these ppl hold their no accountability jobs and elected positions because of PC employment contracts they designed....and anyone with any sense would not touch the problem with a barge pole and condom on the end.. because it is unfixable
So what we have now, regardless of immigration , off shore purchases....is a market of limited space due to narrow strip of land... and a transport network also limited because of the oceans either side...and a market of basic supply and demand responding to the conditions.
At the end of the day it will be ONLY the market that will determine the future of Auckland....regardless of any tax or immigration policy chances now.
Those holding land.. like many of us.. asset rich , cash poor... will eventually cash up, retire or semi retire out of town....apartments will be the norm.. espec with the new NZers coming from that sort of enviroment thats 'normal'....the houses left, be they low injcome whatever will only be affordable to those well off and will turn into afulent suburbs (eg take a look at Japan).....and look around in places like Sth Auckland...little house being ripped down, a 650 m section then has 2 houses often with pillars each side of the front door... and surrounded with 1960s/1970s Universal/ neil homes group houses....
Its happening NOW....
Sound impossible... take a look at say ponsbey, heine bay... was not long ago they where the slums of Auckland...
OR it will go like Detroit...simply die which I do think is unlikely.
And socially where will that go... well Aucklands housing is upgraded.. so do the rents go up, the houses go up.. so who can afford to stay? Those who currently own , those who are employed.. already if one is to drive around many areas not long ago where rather 'untidy' now have re fitted rebuilt, mown lawns, and well presented ....just how much does this also influence Auckland prices, espec those in lower income areas
So all this concern may not be justified over the next couple decades
The only ppl who ACTUALLY have an issue are those whose children cant buy .... locally.. Our children moved out of town... and CAN afford to save, work hard and buy the 1/4 acea ...is that so damn bad for the grandchildren... think about it....market pressures.
Grand parents are cashing up, and also moving.. that so bad? espec considering the low returns on retirement investments .. and the lowest inflation in living memory..
Yes we have a case to grizzle on house prices , the reasons, rate increases and the bearocratic PC BS that in ingrained right thru our local and central government systems.....
But to just sit back and grizzle without looking as to where our future lies and how we can move (with) the market is where most ppl go wrong.
The wife and I have just done a few days around trip 'out of town' places (with all tide ramps, prevailing winds and fishing grounds 1st prioty...Also looked at availability of employment .. and part time to sustain the out of town life stle without touching the cash...) With veiw of
either cashing , or building a couple houses on the property.. then sell up our long term family home .....
OK to and from the ramp is just over 1 hr out of each day out in he boat...but the bottom end is pretty, always get a feed for all....and we like our home.
So for now we are going to sit....pay rates that have a little to go before getting to those of the places we are looking at...
And yes we live in one of those modest lower income places in Sth Auckland, which have been noticeably getting very tidy as mentioned above....
keep in mind stop ALL immigration, stop ALL off shore ownership at this stage WILL NOT change the Auckland market.. other than at best slow the RATE of property valves.. which will remain well above the rest of the country.
OK a little of the above may not be popular, but read it thru, think it thru, may not be on the mark , but wil not be far off... considering what much of what I say is already happening, and my 'theory' hasnt changed or some 25 yrs
Food for thought.
OH we complain about young family affordabity.. we had that many times since brought my 1st home in early 70s... but like back then we moved to affordable areas outside those unaffordable.. that what our children have done..not ***** and blame baby boomers.. but be proactive to achieve a 1/4 acre for THEIR children .. just like we did... turns things into a non issue really.. and they move on forward in their lives