Macca

I wouldn't get the OCR mixed up with lending rates Paul. You won't find 3% mortgages happening in a hurry as John will tell you. Might depend a bit on swap rates. I think you'd probably have to be pretty debted up to be getting 4.25% on any term longer than 12 months today. Cheap money has been awash in NZ for years. Property gains in Auckland in their 3rd year. No real news here. The news is the NZD and the milk solid payout. These are changing faster than originally anticipated and may take the economy places unknown. Thank god for the CHCH earthquake?!!?

kiwi 911

6 months ago no one would have imagined the cheapest interest rates ever?

Property gains in Alk in their 7th year mate, the downturn was Feb 2007 and have been rising since early 2009.

John McM

Yes, lots of short term money in the market and as shown in studies the banks love people on floating rates as that's where the margins are. Bargains on medium fixed term (3 yrs +) come when the swap rates are at the right point and you see a campaign so the banks can on-lend what they borrowed. In my experience banks don't take positions against borrowers e.g. get people to fix when they think rates are falling. They do it because there is a margin to make. With all of the costs etc it's difficult to see rates going much lower. If it was me I'd get term money at the right price and relax for a few years.

John McM

We bought our current house in March 2009, the Auction was a complete fizzer, we were the only ones bidding and there was no after auction competition. Nothing like the current market. It happened then and it will happen again at some stage.

kiwi 911

Perfect timing of the market!

kiwi 911

Macca - what is the Sept date for the Play Day mate - I can't find it?

Macca

You aren't reading those papers that Tony Alexander sends you Paul. Falling interest rates have been on the cards since the beginning of the year increasing in size and frequency since Feb doozy dairy auction prices.

I stand corrected. 7 years and we haven't seen any great increases for demand in new or used Porsches till 12 months ago?

Something tells me your cheap money and Auckland property appreciation theory isn't working with the used car market. I'm betting my 101 supply and demand formula is a simpler explanation. Increase demand reduce volume of product :-)

Macca

..

Macca

^^^

kiwi 911

Holy cow - are you watching the F1 - Ferrari start was staggering. F1 no longer boring..........

My point Macca is that money is so cheap that people will borrow to fund lifestyle (whether it be cars, boats or holidays)

Macca

Hi mate I think it's all booked out :-(. Email Gary direct

kiwi 911

Whats the date?

Macca

My point is that's been the case for the last 3-4 years and hasn't affected the used Porsche market in NZ to any noticeable degree. Offshore boom, media and a dwindling number of available cars has no relevance to an inflated local regionalised property boom IMO.

You are alone on these boards reminding us how rich Auckland's are now mate :-p

kiwi 911

Macca, Dorklander's are not rich, your own home doesn’t count as you need a roof over your head - not unless you cash out...........

We just buy houses off each other at inflated prices thinking we are getting wealthier.........

Ponzi scheme and musical chairs come time.......

Spokes

Auckland housing market is boring, commonly know as Auckland pornography, it is worse then Christchurch people talking about the Earthquake endlessly at dinner parties....

Now, it can only be a few more weeks until all the ice and grit is off the road so I can get my 993 out for a play ;-) hopefully my leather pieces will be done.