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I know already after the global recession, a few NZ cities saw a steep increase such as Auckland, and a little bit in Wellington but that's about it. My honest opinion, is that I don't think there will be a steep increase anytime soon - or anything close to what Australian homes would usually go for in the big cities. Australia has many more tourists, expats, and immigrants so of course there will be more demand there. NZ sort of reminds me of Britain (with the North Island being Britain, and the South being Scotland where everything is cheaper than England, with housing, mostly).
Also I forgot to add in: Auckland has had a major boom recently in housing, and I know prices there have dramatically gone up.
Nobody wants to come to the Americas so they are going to the next English speaking nation. NZ does not play unlike the Aussies. What they need is to get rid of people not invite them to come inside. Make some children NZ and preserve your natural resources.1
Nobody wants to come to the Americas so they are going to the next English speaking nation. NZ does not play unlike the Aussies. What they need is to get rid of people not invite them to come inside. Make some children NZ and preserve your natural resources.1
I agree! The sad thing is, I rarely see people moving to the NZ. Most people who move to the English speaking world go to the USA, Canada, Britain, or Australia. NZ deserves much more popularity, and when I'm grown up I wanna make the move to NZ. My favorite country.
With the Reserve Bank of NZ recently imposing unprecidentated loan to value ratios in combination with intrest rate rises "should" lower demand and cap price inflation, at least this is basic supply and demand economics. There is market data distortion due to a real housing shortage in the Canterbury region for obvious reasons however.
If recent months are anything to go on the NZ housing bubble might be under control, but we will know more before the year is out.
I know already after the global recession, a few NZ cities saw a steep increase such as Auckland, and a little bit in Wellington but that's about it. My honest opinion, is that I don't think there will be a steep increase anytime soon - or anything close to what Australian homes would usually go for in the big cities. Australia has many more tourists, expats, and immigrants so of course there will be more demand there. NZ sort of reminds me of Britain (with the North Island being Britain, and the South being Scotland where everything is cheaper than England, with housing, mostly).
Also I forgot to add in: Auckland has had a major boom recently in housing, and I know prices there have dramatically gone up.
House price inflation in NZ is directly linked to inward migration and goes up when it's in the black. There is also an element of Chinese and Australian investment pushing up prices because NZ doesn't have stamp duty or capital gains tax. My home in NZ sold for $300k more than what I paid for the house I bought here in Australia which is in a much better location and so I'm a happy bunny
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