Any Rennlisters from New Zealand?
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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?!!?
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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?!!?
Property gains in Alk in their 7th year mate, the downturn was Feb 2007 and have been rising since early 2009.
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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?!!?
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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.
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Perfect timing of the market!
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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 :-)
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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)
My point Macca is that money is so cheap that people will borrow to fund lifestyle (whether it be cars, boats or holidays)
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You are alone on these boards reminding us how rich Auckland's are now mate :-p
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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
You are alone on these boards reminding us how rich Auckland's are now mate :-p
We just buy houses off each other at inflated prices thinking we are getting wealthier.........
Ponzi scheme and musical chairs come time.......
Last edited by kiwi 911; 07-26-2015 at 09:56 AM.
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Auckland housing market is boring, commonly know as Auckland pornography, it is worse then Christchurch people talking about the Earthquake endlessly at dinner parties.... ![grr](https://rennlist.com/forums/graemlins/cussing.gif)
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.
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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.