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Thread: Property in NZ

  1. #71
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    Default Re: Property in NZ

    Most of all red tape slowing down development and people sitting on their house instead of building new.

    What's this all about!, why should we build new again?, we are happy here.

    Had a State Advance Corp. 3% loan initially and that went up to 5%. Shame that system went away.

    lurking.

  2. #72
    Senior Member piroska's Avatar
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    Default Re: Property in NZ

    Quote Originally Posted by Lurking View Post
    Had a State Advance Corp. 3% loan initially and that went up to 5%. Shame that system went away.

    lurking.
    Well interest rates are rather low at the moment you know. It's never been the issue really, getting the deposit is.
    Even with my son, he was on good money but with rent, child support and all the usual bills, saving, on his own, wasn't possible. He had $30K in kiwisaver then, not enough.
    Ex-pctek

  3. #73
    Soaring like a chicken prefect's Avatar
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    Default Re: Property in NZ

    I setup a Post Office home ownership account when Piggy was PM, I did it because I was spending a horrific amount of money pissing up, guns, cars and motorcycles etc
    Sort of forgot about it until I got a letter from POSB saying hey you have heaps of money what about buying a house? Bought a new house with big double garage and shed in Blenheim although had to get a second mortgage. Interest rates were very high but so was inflation. Had to get a second job so I had money for pissing up, guns cars motorcycles etc. I lived in an old farm house in Okaramio $10.00 a week between three of us but the deal was we had to help the farmer fix farm equipment (well the RNZAF) did cart hay.
    Most of my mates were single as well at the time and they all had their own houses as well.
    Last edited by prefect; 22-11-2020 at 09:03 AM.
    Its amazing how Potatoes give us chips,fries and Vodka.

    Get your s*** together every other vegetable.

  4. #74
    Soaring like a chicken prefect's Avatar
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    Default Re: Property in NZ

    Quote Originally Posted by piroska View Post
    Well interest rates are rather low at the moment you know. It's never been the issue really, getting the deposit is.
    Even with my son, he was on good money but with rent, child support and all the usual bills, saving, on his own, wasn't possible. He had $30K in kiwisaver then, not enough.
    Child support, speaks volumes
    Its amazing how Potatoes give us chips,fries and Vodka.

    Get your s*** together every other vegetable.

  5. #75
    tweakedgeek tweak'e's Avatar
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    Default Re: Property in NZ

    Quote Originally Posted by Lurking View Post
    Most of all red tape slowing down development and people sitting on their house instead of building new.

    What's this all about!, why should we build new again?, we are happy here.

    Had a State Advance Corp. 3% loan initially and that went up to 5%. Shame that system went away.

    lurking.
    please don't take it so personally.
    its just those who would normally build a new house are being held up or put off by the red tape.
    there is also things like councils who tax the developer who passes the cost onto the home buyer, which pumps the house price up. new homes are funding the council to pay for services for everyone.
    so they don't build a new house (or delay it), sit in the old house which increases demand which pushes up house prices. then they take that profit to pay the council etc. which in turn trickles back to first home buyers.
    so in a way you could say first home buyers are the ones funding the councils.

    there is lots of causes to the issue.
    Tweak it till it breaks

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