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Thread: House Prices

  1. #31
    Soaring like an Eagle gary67's Avatar
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    Default Re: House Prices

    I can let you know how house prices go in mid Feb as just signed to sell our lifestyle block today. We have a figure we need to reach to make it work for us and if we don't hit that target we will stay here.

  2. #32
    tweakedgeek tweak'e's Avatar
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    Default Re: House Prices

    Quote Originally Posted by piroska View Post
    And the removal of all the HNZ houses.
    So many got sold in Huntly a few years back, friend of friend bought heaps of them. And rented them out privately. Then when prices started to climb madly, he sold a lot.

    Here in our suburb, theres a huge strip of land...empty, HNZ houses used to be on it.
    Demolished and not replaced. Recently a big fuss was made, Labour building more they said....we watched....they took one of the smallest bits of land and put 9 terrace houses on it.
    And stopped.
    What happened to the 30 or so they removed?
    i actually looked at buying one here. the houses had almost zero maintenance done to it since they where built in the 80's, and was leaking badly. they still had the original window seals (window to cladding seal) still in place tho completely rotten and leaking.
    no offence but hard time believing someone bought a heap of them because they where only sold to first home buyers and you had to keep it for 4 years minimum.
    this was back with national.

    i would not be surprised that they demolished them because so many where crap. many sites did get developed. tho would not be surprised if they changed their minds half way through.
    Tweak it till it breaks

  3. #33
    tweakedgeek tweak'e's Avatar
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    Default Re: House Prices

    Quote Originally Posted by gary67 View Post
    .......We have a figure we need to reach to make it work for us and if we don't hit that target we will stay here.
    not trying to knock ya, but thats an example of the housing market at work and why it really needs to change.
    the problem is everyone does that. eg if councils add extra cost to a new home, people sit and wait until their existing house goes up in price. by waiting it means new houses are not built so supply is reduced pushing prices up.
    add in modern communication so people can see whats happening, means its done on mass and the entire market is played so future generations pay for today.
    Tweak it till it breaks

  4. #34
    Its ok I am from Motueka. prefect's Avatar
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    Default Re: House Prices

    Maybe it was like Cuba years back when the whole economy just involved the sale of old cars around in circles, no new cars till Ladas came in in the 90s.
    Its amazing how Potatoes give us chips,fries and Vodka.

    Get your s*** together every other vegetable.

  5. #35
    Noobish Pirate hueybot3000's Avatar
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    Default Re: House Prices

    Quote Originally Posted by tweak'e View Post
    not trying to knock ya, but thats an example of the housing market at work and why it really needs to change.
    the problem is everyone does that. eg if councils add extra cost to a new home, people sit and wait until their existing house goes up in price. by waiting it means new houses are not built so supply is reduced pushing prices up.
    add in modern communication so people can see whats happening, means its done on mass and the entire market is played so future generations pay for today.
    It's not quite that simple. We unintentially ended up this situtation. We paid $440kk for our first house. We lived in it for 5 years and put about 30k into it with kitchen upgrades etc. Set reserve at auction for $550k (I'm not greedy), sold for $710k. Paid $299k for new land (prior to selling). Similar sections now selling for $550k. Our total build cost is around $900k (including land). Bank valued at $1.4mill June last year so probably more now. Market sets the value on everything.

  6. #36
    Soaring like an Eagle gary67's Avatar
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    Default Re: House Prices

    Quote Originally Posted by tweak'e View Post
    not trying to knock ya, but thats an example of the housing market at work and why it really needs to change.
    the problem is everyone does that. eg if councils add extra cost to a new home, people sit and wait until their existing house goes up in price. by waiting it means new houses are not built so supply is reduced pushing prices up.
    add in modern communication so people can see whats happening, means its done on mass and the entire market is played so future generations pay for today.
    Yep It is exactly that. This was meant to be our forever home as I designed and built it all myself with some help from my work mates with the heavy stuff. But a change in circumstances for family health reasons means we really need to be nearer the family again.

    If it doesn't sell for what we need then we are stuck. Bought the 10 acres for $265k and house cost $320k to build, current estimate is $900-950 yet if it was in the village it would be over a million.

  7. #37
    Old guy
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    Default Re: House Prices

    If talking about your own family residence the increased value of it is not revelent as assuming you have to have somewhere to live you will be buying and selling in the same market. There is no real profit in that.
    It is different if talking about someone who has several properties and is in the business of actively trading them in that case if they know what they are doing there is serious money to be made.

  8. #38
    Senior Member piroska's Avatar
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    Default Re: House Prices

    Quote Originally Posted by tweak'e View Post
    no offence but hard time believing someone bought a heap of them because they where only sold to first home buyers and you had to keep it for 4 years minimum.
    .
    And? He sent our friend down to paint them...rented them out.
    And then later sold some, not all.
    He was one of those multi-property landlords.
    Ex-pctek

  9. #39
    Senior Member piroska's Avatar
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    Default Re: House Prices

    Quote Originally Posted by gary67 View Post
    This was meant to be our forever home .
    You built a tiny house right? Where you moving to now?
    Ex-pctek

  10. #40
    tweakedgeek tweak'e's Avatar
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    Default Re: House Prices

    Quote Originally Posted by hueybot3000 View Post
    It's not quite that simple. We unintentially ended up this situtation. We paid $440kk for our first house. We lived in it for 5 years and put about 30k into it with kitchen upgrades etc. Set reserve at auction for $550k (I'm not greedy), sold for $710k. Paid $299k for new land (prior to selling). Similar sections now selling for $550k. Our total build cost is around $900k (including land). Bank valued at $1.4mill June last year so probably more now. Market sets the value on everything.
    not trying to knock anyone who has done it, it is what it is.

    however what would happen if someone sprinkled fairy dust and waived a magic wand, and that meant you could only sell for what you paid for it.
    pay 440k, sold for 440k. to buy the next house you would have to actually earn all that extra money required.

    yes the market sets the price, but people set the market. a large part of why you got 710k is that a lot of people have played the market to push all prices up, even if its unintentional.
    there is a lot of people who have done extremely well, but its at the expense of the next generations to come.

    this is why its time to throw the market out.
    Tweak it till it breaks

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