Bayleys achieved sales on exactly half the properties at their latest auctions in Auckland, Waikato and Hawke's Bay

Goodness me! All my November property values have come down further by $100k to $300k on Homes.co.nz ...help!

What would draw people to living in an apartment in Cambridge, would have thought it is more suited to those who want to spread their wings a bit.

Sounds like you don't have much choice but to wait. I would say anything within commuting distance of Hamilton will be a good investment.

Narrabeen , your logic is astounding.

We built our own home 2009. The builder charged cost + 10%. The roof, and windows were supplied essentially at cost by suppliers. But with the oligopoly on building supplies there was no savings in this area. It almost appeared the building supply companies had upped prices to maximise profits on the actual sales they were making, as they thought anyone building in this environment had to build or were not constrained by cost. Labour was about 20% of the build cost, and was not really cheaper, though we had the more efficient builders on site (those that had not been laid off). This was in the depths of despair when everyone thought the world you going to end, and we saved approximately 10% of previous build cost.

If the dollars falls theroetically some materials may go up in price. The main saving will be in not paying superprofit to contractors, and having a more efficient build crew. But, I would not bank on building materials falling in price.

Go on send am thru zac.

Once the Jacinda ban kicks in early next year we can no longer sell existing homes to the lovely people from Shanghai, unless they hold Australian citizenship. A lot of panic buying happening right now before the last gate is shut.

My folks' house in one of the less desirable North Shore suburbs just went conditional today and they got just a whisker less than they were asking.

Here's something interesting from the open home viewings. Every single person of the 20+ groups who viewed the property was Chinese-born. No-one Kiwi born amongst them. Most have Kiwi citizenship....but ALL were born in China. So when we hear this 3% of buyers being foreigners, it *might* technically be true. But if you were to ask how many buyers in recent years in Auckland are "new Kiwis" i.e. granted citizenship in recent years, then that might explain the 3% figure to some extent.

Higher clearance rates - Barfoots must be envious!

Real Estate spin is like hamburger photos, everybody knows they embellish so it’s ok.

Looks like a pretty cool apartment and at an affordable price.

It's a lease-hold so you don't own the land and you pay the annual "ground rent" which is subject to review every seven or 21 years, depending on the lease.

IMHO if that apartment is freehold it would fetch around 600k-700k at that location. I have never owned an apartment so maybe Zach has a better idea? My rough guesstimate would be around 4% yield.

Have to say it again just incase you miss it DGZ.Don't over fert your lawns.Ha Ha

I paid $1262500 for a block in Cambridge that rents out for $2405.come down south for some yield.and if your lucky you'll get growth over time!!!

(Anticipated reply) "That's Bernard Hickey. He was wrong in 2007 and is just as wrong today"

(From another article on there...it's a quiet rainy arvo here!)

Graeme: So, you mean you want me to tell you what prices will be in five years time, compared to what they are now?
Investor: Yes please, that is what I am after.
Graeme: I have no idea what prices will be in five years time, two years time, or even this time next year. I would only be guessing, as would anybody else you ask. In fact, this is one of the major reasons why people lose money investing in property; they go into it for the wrong reasons, hoping that the properties they buy always go up in value. Then when they don’t go up, or they drop in value, they get despondent and sell. I have written a book about real estate investment that explains about this. You would be better to read it before doing anything else, especially if you are investing money for other people. Would you like a copy to read?
Investor: No, I don’t want to read a book; I just want to invest some money in real estate because I’ve been told it’s a good investment.

I was at first stunned by what this guy was wanting, but on reflection, realised there are probably many other investors just like him. They hear real estate values are going up, so they rush in to buy something without any knowledge of what they are doing. I don’t ever try to predict what is going to happen in the market, but if I were to guess what will happen, it would be that the market will start to change soon, especially when people like this are starting to become real estate investors.

https://www.propertytalk.com/forum/showthread.php?38598-Articles-Graeme…

Interesting read indeed!