By Bernard Hickey
Realestate.co.nz's November report shows its number of new listings grew 9% to 12,932 in November, which was more than triple the number of properties sold in October. New listings growth was 7% in seasonally adjusted terms to their highest level since June 2008 and was the highest November since 2007.
There is now 53.2 weeks worth of unsold inventory on the housing market, up from 48.8 weeks in October and up from 47.5 weeks in September. It is also at its highest level since June 2008 and above the long term average of 39 weeks, indicating a 'buyers market', Realestate.co.nz said.
The truncated mean asking price for properties fell 1% from the previous month to NZ$417,660 and is now down 3% from the peak in prices in in October 2007.
Realestate.co.nz said the surge in November property listings showed vendor confidence picking up in spite of a slow market as they looked to take advantage of the fine summer weather. See interactive housing inventory chart.
“These figures are heartening because they indicate there is actually some new life in the market, which we haven’t seen in a long time,” said Alistair Helm, CEO of Realestate.co.nz.
“Vendors are eager to take advantage of the summer marketplace and are setting their expectations at realistic levels,” he said, adding the figures were a good sign for home buyers.
“While these indicators show it’s definitely a good time to buy, we’ll need to wait and see how this trends over the next few months before we can fully assume that the market is regaining some buoyancy.”
Here are more details from the report:
The comment from the October NZ Property Report was that “spring had past the property market by!” clearly the November market activity shows that “the best was saved til last!” The month saw a significant (and unseasonal lift) in new listings, in some ways making up for the somewhat quieter first 3 months of spring.
The monthly sales though have as yet failed to show any appreciable lift with October reported at 3,903, the lowest recorded total for October since record show back to 1992.
This low rate of sale (currently averaging 4,340 per month) is driving the inventory levels to highs not seen for over 2½ years with the equivalent of over a full year‟s worth of sales on the market. In some regions that total now exceeds 2 years (Central Otago& Wairarapa) and even over 3 years (Coromandel & Northland).
The November sales data is yet to be released but there does appear to be some significant pockets of activity which are driving sectors of the property market especially at the high end of price bands. These latest statistics in this report, which have been consistent for a number of months now, in regard to trends, all continue to point to a confident market, albeit a sluggish one.
Asking price expectation whilst showing some weakness this month, does not appear to be under excessive pressure, however price would seem to be the only factor able to bust the log jam of unsold inventory of houses on the market.
Regional analysis
Whilst the national asking price expectation remained steady with just a small fall from prior month and a small increase over the recent 3 month average, the regional analysis shows some significant variances.
Amongst the 19 regions almost half showed a rise whilst the remained showed a fall. The three east coast regions of Gisborne, Hawkes Bay and Wairarapa all saw significant increases of more than 5%. The single largest fall in asking price expectation (-8.6%) was seen in the Coromandel region which when combined with the rise in new listings may well reflect some significant re-pricing of existing listings which may be required to clear the inventory which now amounts to 262 weeks of equivalent sales.
The Coromandel region already challenged by a very high level of inventory saw a total of 349 new listings in the month up 35% of the prior year. All three of the major metro regions showed steady increase in asking price expectation.
See the full November report attached here.
Housing inventory
Select chart tabs
90 Comments
“Vendors are eager to take advantage of the summer marketplace and are setting their expectations at realistic levels,” he said, adding the figures were a good sign for home buyers.
Or could it mean " Owners can no longer withstand the pressure from the banks and their finances and therefore has to let it into the market "?
“While these indicators show it’s definitely a good time to buy, we’ll need to wait and see how this trends over the next few months before we can fully assume that the market is regaining some buoyancy.
Or could it mean : " We are not sure that the market is going to be better or worse but we hope you think it is a good time to buy....we need the business...BAD "
Hold on, this can't be right? House prices never go down???? I was fooled!
Oh wait, but over the really really long term they always increase, so we are in it for the long haul, market corrections always happen, but property is the best investment ever, time to put all your eggs and the banks eggs into one basket!
Over the really "longterm" you will be dead so what's the point? House price increasing is the last thing you should want IF you knew anything about REAL 'productive' economies. Anything that goes up in price( particularly a house) devalues your buying power, your domestic currency and increases inflation (price inflation of any kind is evil) so making you have to work ever harder for the same little slice. NO.... never wish for increases of any kind related to currency. Increases in productive 'yield' such as a crop or item you manufacture on the other hand are good. House price increases are bad.
The debt does not go away with capital gain either, it just moves as YOU move and CAN pass on to the next generation such as your kids. You say you invest "longterm" yet you only looked at the 'material' investment and not the social impact that NO ONE escapes.
So look at the long term, the surprising thing is even bonds do well over the long term...usually because shares, housing has booms and busts....So what really makes you money is picking the bust in a class, moving in and selling out near the top into a different one and repeating....ie its the relative differences...
Housing is totally porked over the long term from today, ie 20 years plus....its massively over-valued....that has to be corrected, only fools stay in IMHO... there has to be sell offs, there has to be very large drops in prices.....
regards
Interesting in Sth Auckland 'chat' more semi mum and dad type investors are very seriously looking at picking up cheap rentals...and are. And are more "this is long term, 10/12/14yrs at least
"Mum and Dad" is different to Granddad and nan.
On the market for 260K offering in the 210/220K and sales go thru at these levels...If the vendor plays ball.
These same houses where selling in the 300/340K range in '07
The occasional 450/ to 600K sale on the other side of town are keeping the ave up.
As to trend...I think, the last yr 18 months is the trend...what the market actually is, just as the period 02 to 07 was very different from early 90s up to then.
The real estate people will just have to learn and accept this rather than crossing their fingers with statements like
"“These figures are heartening because they indicate there is actually some new life in the market, which we haven’t seen in a long time,” said Alistair Helm, CEO of Realestate.co.nz."
So what we now have is very positive, a reliable and stavble market..get used to it, after all isnt that what we want?
So what we now have is very positive, a reliable and stavble market..get used to it, after all isnt that what we want?
If that's what you prefer to see in these data, good luck to you.
However, most will stick with the reality, which is that prices are falling because they have to, after getting so ridiculously and unsustainably high, while sellers and agents are becoming ever more desperate, almost as desperate as those such as yourself who have bet absolutely everything on the property bubble and are now willing to live in a state of denial in order to avoid facing cold, harsh realities.
"almost as desperate as those such as yourself who have bet absolutely everything on the property bubble and are now willing to live in a state of denial in order to avoid facing cold, harsh realities."
yeah real desperate m8..stuff all mortaguge, no credit cards, debit, veggie garden doing real well kids left home, collection of classic cars all paid for..
And denial..well we where going to subdivide, even to putting last application into council...but wriiting was on the wall...decided to sit back and watch the perverbial hit the fan.
Yep thats desperate and thats in denial m8...yeah right.
If you cant pay cash for something its not really yours and you cant afford it.
Yep have to admint my Grand father was what one would call rightious..he did alright by his family, and they mostly practiced what he preached for several generation...
We have walked the talk for 40 odd yrs....and have been a thru a few down turns bad times in that time, sometimes stretched but never stressed..
Hell even run my business that way....discount for cash is far more profitable than the bit of interst picked up by paying 20th month...and is have a bad few months still dont have creditors at the door....
Its basically where one chooses to operate the equilibrum of of ones finances...
X amount in the bank or OD hovering around zero, or leveraged out to the max....but oce one leverages out it takes a yrs, if not impossible to get back out of the clutches of banks... just never go that route.
Own what you possess...its not righeous is plain common sense that has been thrown aside.
Depends on what it is, CM. An appartment in the block next door to me is renting at $300 p.w., but it's sale value is probably... nil ~ it is rumoured to be demolished as it's unfixable ( badly leaky) and a purchase price would include demolition and rebuild costs. So what's the yield on that work out to be? Who knows!
Yeah but I want more...like an update to the data out a while back that gave the big % drop in prices in the region...!Having a hunt in the sites property area.... fingers crossed....
Found it ....". In Marlborough the median price decreased from $312,500 in September to $262,000 last month (October 2009: $285,000). At 51, sales were up slightly on the 48 in September but down on the 59 in October last year.".......well done BH...I guess in twenty years we will just have to ask our mouse to find it for us!
Anyway....oct 09 $285000........oct 010 $262000................a near 10% drop there allowing for some RE fiddling with the data input.
Expect it will continue given the trendline showing up on the graph
yeah some friends just sold their property down there at a loss and said it was a very bad market, but they expect it to get alot worse. wine industry has taken a big hit, jobs are really tough with one of the biggest employers of blenheim (cant remeber who) closing their doors as well as talk of the airforce base closing down, they recomended not a smart place to invest lots of doom and gloom
"yeah some friends just sold their property down there at a loss and said it was a very bad market, but they expect it to get alot worse."
Thats an interesting comment..but it is very perspective dependant..
If they had brought at over inflated prices of the boom years, it is not a matter of "getting worse" but a matter of bad business judgement....which is the case with 99% of sales at a loss, mortgagee, forced sales....
And who is going to admit that...or any mistake...lets face it cars drive off clifts, not people drive them off doing stupid things right.
Well Steps , a look at that graph above for circa oct09 shows about 45 weeks listing supply....the latest data at the end of the graph has it up around 80 weeks....seems to me things are way worse than back in 09. I'm picking the true state of the Marlborough market must be near 20% down on the bubble prices.....how do you see it?
Well a over supply of listings is just an aftermarth of greedy ppl overleveraging, that will sort out when they run out of money funds.
Those that are buyting are 1st home buyers...kiwisaver for 1st home buyers is now current
We have always had ppl getting married, having a family, and its now back to normal and far more affordsble now..could be better thu.
The suburb we live in, since the 1970s has always been damn near bang on matching national stats in all respects...and as you will have read from me over the last few years, the stats dont represent the market in practical terms...20% yep thats realistic .
Take the ave for the last 30 or 40yrs...If one expolated that out in 2007 Bernard was right in his fundimentals....
But the pollies banks prevented a overnight crash, so it becomes a matter of prices dropping down to eventually meet the the long term ave that rises...So to expect a 30% drop in reality was stupid and even more stupid to take BH prediction so damn literally.
The long term and the numbers I have here from early 2006 of similar and same homes reselling indicate around a 18 to 22% drop from 2007 highs....the drop off seems to have stopped bar for a few bargins from those desperate people who are left.
The long term ave give or take a little due to changes in methods of measuring in the last 40 yrs is damn near current market values...maybe another 5 or 6% drop....or stay stable and ave comes up.
Bottom line the show is over for a few yrs now, all the ranting about release land, devalopers blah blah, is just strutting around feeding their own agendas really....Sort of reminds me of a washing board manufacture not accepting the washing machine will ever take on.
dont quite understand your comment, these are smart people that had intended on staying in blenheim and hence invested accordingly, but for employment reasons they had to move on, the job market has taken a couple of major blows and they decided better to take a small loss than a larger one if they remain as a PI taking into account the current environment and feeling in blenheim, their property has been on the market for about a year, and they took a small loss, i personally think they did the right thing.
"these are smart people that had intended on staying in blenheim and hence invested accordingly, but for employment reasons they had to move on"
So it wasnt over leveraged...bit of bad luck then....may have been better to rent in a over priced market for a while and established over 12 or 18 months that the employment was stable 1st...Which is what we did ...kept our home in Auckland...didnt pan out like you friends, no loss just had a great time for a while.
Here's some photos of choice developments in US state which allows unregulated suburban sprawl...
http://www.boston.com/bigpicture/2010/09/human_landscapes_in_sw_florida.html
Bet these sell for way less than 3x income - especially the sections developed 50 years ago that still haven't sold. "Only 40 mins in an SUV to the closest dairy and only 60 mins to the nearest employment centre"
Why can't we have more cool affordable stuff like this?
"I am a property inspector here in Fla. and live in a small county with commissioners too big for their britches who are,guess what CONTRACTORS! Yes you can hate them all and say America is out of control,ever been to Greece,Italy,or other over populated European countries whose buildings are nearly ontop of eachother?This sprawl is everywhere.I live in the woods,yes there is still alot of it here,greed is behind most of the communities that are not,I repeat NOT even advertised to Floridians.I have many homes I inspect in gated communities where the owners live in Ca,Nevada,and have never seen their speculation built homes,and they are empty,they are constantly vandalized.How do you stop these kind of neighborhoods,stop them at the source."
So you want to develop productive NZ land into wasteland like the shots above........while ppl specualte like mad on cheap credit and leave houses all but abandoned by the thousands on worthless lots too far from anythign to ever be of use.
Sorry but I dont agree, I dont want NZ turned into one huge parking lot.......
regards
Hey folks - all these deckchairs have gone underwater - the red ones, the blue ones, the... - no wait -
look over there - that one with a motif on it - looks like a yellow rose.
See, there - up the deck a ways - the only one left dry......
Hell, they're all rushing towards.....
"folks no, don't......you'll bust if you all .......it's only made of canva.........
s".
too late. There it goes too.
Anybody gotta lifejacket?
Anybody?
Houston, we've got a problem.
But isn't that the point, people would rather live in the 'dense stuff where people are forced to live on top of one another.'?
They don't want to live in the outer limits, unless of course it's the 2 million house on a life style block. Been to South Auckland lately? A lot of Pacific Islanders are living there because they were driven out of Ponsonby/Point Chev by the yuppies in the 1990's. These are the areas people want to live, those immedialtely outside the CBD.
These are all interesting points and here is a true story that is related.
Right now my wife and I live in an apartment complex in 'downtown' Auckland. Our neighbour's family owns a holiday home in the small town of Twizel in the South Island. Their parents bought it 30 years ago and it owes them nothing.
None of the current family members have any interest in visiting the place because they say the location is a dusty furnace in summer and a frozen wasteland in winter. There is nothing much to do in Twizel apparently and they don't have a clue why their parents bought the place.
Of course back then it cost almost nothing to buy and was paid for very quickly but during the property bubble we all just went through the value of the Twizel place went crazy.
My neighbour was all in favour of selling it back in the glory days of 2006 or 2007 so that they could pay off the Auckland mortgage and put some cash away but he was outvoted by the other family members who were convinced Twizel houses could only continue to appreciate in value and in fact bought two more properties in Twizel at the beginning of 2008.
The original place has shed $30,000 value in the space of a year. That's not a killer because they owe nothing on it but they owe a huge amount of money on the other two properties which have devalued as much as the old place, and now my neighbour has had to cancel his plan to retire early so that he can help pay the mortgages, after one relative involved in this fine scheme was made redundant and can't find work and another died suddenly and unexpectedly.
On top of all this they had a big chunk of savings in finance companies, RIP.
This family has terribly indebted itself because of an investment fantasy involving a desolate rural deadend with nothing going for it and no promise, when they had everything they could ever want or need almost literally on their doorstep.
For all their bad reputations, cities are still the best place to be for most people, in my opinion.
I can't believe the numbers of people whom have done absolutely nothing wrong - being forced to put money back into the pockets of those who screwed up with leaky homes / un-insured for earthquake damage / finance companies / Kiwifruit PSA disease / ............
If there hadn't been those blasted governments around , there would have been huge numbers of people who would have had to bear the consequences of their imprudent personal decisions .
Yes sadly those who did not over-extend and buy things they did not need or and could not afford, get to be used as the safety net. This is why I left NZ again, as its a disgrace. Not to different to other countries, but hey they are not my country are they.
Speaking of which GBH - if you could put a NZ$ cost to being able to live under a plam tree sipping crushed mango delights, what would that cost per day be? I'm seriously looking at how many years I can get under a plam tree chilling in a hammock
If you have a place in mind , to retire in , go there soon ( whilst you're still young ) , and spend several months . It may not be the utopia that you dream it is . And it may cost more than you imagine . An extended holiday will reveal if it really is for you .
We're not staying here , in the Phils . Once the resort is finished , we're off to Oz ! We learnt our lessons , and won't retire permanently , under a coconut palm . But we've always got a little piece of beach that is ours , for long holidays .
If you own a home in the tropics , a NZ pension will be ample for your living expenses . But you still need to develop a lifestyle that keeps you busy . My neighbour ( from Chicago ) loves his new home , and will never go back to the USA . He even bought the plot next to him , to prevent some Germans from moving in ! Kiwis OK , Krauts nein !
Good luck !
A quick glance looks like confirmation to me of the two markets; Auckland and the rest of the country. I had heard from friends that there is very strong competition for rentals in Auckland and rents had been rising(but haven't seen any stats to back that up). That could be a leading indicator of a turn around.
With a lack of new building, migration of workers coming to Auckland looking for jobs, low interest rates, and much lower asking prices, I would not be surprised to see sales pick up after xmas.
As for the rest of the country, not looking to sharp.
EEEErghh - I just Google mapped Houston.
I now understand fully where you are coming from. If you just make horrible hideous cities where no one wants to live then housing will be cheap - genius.
Actually if you paid me 3 x my income to live in Texas for a short time I'd consider it - is that the income multiplier you're talking about?
Horrible and hideous are my words and what I think of them. You may love living like that, surrounded by neighbours you've never met and dependant on your car for every outing. If you do good for you you've got tonnes and tonnes to choose from.
I don't want to live like that, but have very little choice, because autocentric suburbia is the predominant zoning in Auckland from the edge of the CBD onwards. I rather not see more of it until there's also some alternative zoning options involving higher density and more affordable housing closer to town.
Bob,
What you and all those urban planners are failing to see, is that when you limit edge-of-metro development, you drive up the price of ALL land by so much, that no-one can afford to live anywhere EXCEPT where the land is "least unaffordable"; which happens to be "furthest away from jobs and amenities".
The most efficient and convenient locations end up like exclusive incumbents clubs, with comparatively LOW density AND convenient location, while all the infill and higher density re-development happens nearer the urban fringe.
Alain Bertaud's papers have some urban density profile analyses that clearly show this in certain cities where "Smart Growth" has been practised for the longest. But you can see this with your own eyes in Akl and Wgtn at least, and Aussie cities if you visit over there.
Not only has "Smart Growth" brought catastrophic costs in economic terms, it has delivered NONE of the expected benefits either. You will wait till kingdom come for your "more affordable housing closer to town". It won't happen unless you confiscate people's properties, or subsidise developers so that the $2 million sections you are talking about can be split into 4 and each bit sold for $100,000 max. That's $1.6 million to be swallowed by the taxpayer/ratepayer, if you want to see anything happen.
Of course, in those cities you hate, where land is cheap, a fringe section is $30,000 and a section adjacent to the CBD is around $120,000. So it is quite cheap for anyone whose PREFERENCE is to live near the CBD at higher density. But "planned" cities like Auckland, PRICE OUT the people who WANT to live this way, let alone the people who DON'T want to.
Check out what I am saying, it is on the level. Your beliefs are utopian, chimerical, arcadian.
I heard on the National radio news at noon that
"There were signs of a Spring boost to RE"
Not the exact words but the body of the news told the real story as above.
Q. How is increased number of listings and lower price considered to be a boost?
Is the newswriter a buddy of the RE business?
It's called "news management". Realestate.co.nz is the official website of the New Zealand Real Estate Industry. As an industry lobby group, it exists to promote the interests of its members. Lobbyists are also identified as "Key Stakeholders" or "Peak Bodies" who regularly issue Press Releases designed to distract from the bad news and amplify the good news. In any other world an increase in supply accompanied by a reduction in price would hardly be considered good news.
Think you're right Muzza...place went stupid in the bubble on top of the madness from the wine...seems the trend is a long decline. Heaps of sections unsold for yonks and properties that have been for sale since 05...now that takes some beating!
Of course you might want to know why the rates in Marlborough are soooo high....here's one reason....
"Otago-based construction company Calder Stewart has won the contract to build Blenheim's $6 million multiple storey car park in Alfred St.
Changes to the plan have bumped the price up $500,000 with additions including lifts and exterior louvred panels coloured to represent vineyards." Cherie Howie Marl Express.
"coloured exterior louvred panels".....beat that Barry Obama !
It was a Council decision.......and now the locals must pay for it....for the next umpteen bloody years....and they will be faced with the forest of new parking meters that spread across the town and the rise in parking fees and parking fee infringement fines...and they will be wanting to keep their glossy new tincan cars out of the sun....so a few will fill the spaces left after the council staff get to park in the council staff spaces...which will not be free!...hell no...the council will pay the fees to the council and the fees will come from yet more rates...taken from the residents...who have pots of money to give away...Imagine all that money could have been spent in local shops...on local wine....and all the jobs that would have saved....oh well who gives a shite.
Hi Wolly,
I used to live in Blenheim up until mid 2008 ... I bought three rentals in 2007 !! Wither Rd, McLauchlan St and Old Renwick Rd. I would estimate on the three I am down around $100,000 which is pretty much all the equity I put in. However I have no need to sell them and when purchased in 2007 the aim certainly was not to sell them in late 2010 ... perhaps more like late 2020 when I'm in my 50's ...
They have all rented well but only last month I had to find a new tenant for one of them and I have had to drop the rent by $20pw to get it let. The big big plus is that when I bought them I was paying 9.40% interest and now my average on the three of them is 6.55% and this is locked in until late 2012. I would like to buy a couple more but the banks are not the easiest at the moment , however they are comfortable with our current position even though I am sure the equityy has reduced. They are all on P&I mortgages ... maybe that gives them more comfort. I was in Blenheim last week ... the vineyards looked a picture and as usual the sun was shining ... not a bd spot really
Well Nev, you will be hopeful the ECBB and the Fed fail to cause inflation because once that beasty gets out...rates will take off. Not surprised at the $100 grand drop. 80 plus weeks of listings and they continue to rise. Yes the vineyards look nice...shame they have to prune off 50% of the crop and take a risk on the rest being wanted. The carpark is growing like a field of cement fungi and will make a good emergency shelter when the big floods come. What was the rent before you chopped it?
Wolly I was told 5 years ago by someone in the industry that there were too many grapes being grown in Marlborough, a glut and dropping prices being a certainty, along with bankruptcies.
I also know someone living there now, ex Auckland, that laughs at the Auckland prices being asked for housing in what is essentially a backwater. Back when I did my basic training Blenheim really was a pretty ordinary town, a few grape growers have made people go all stupid really. Person their know is in a privileged position and has know that for some time that over 200 vineyards are for sale. The agents won't list them all and just rotate them, in case people get the idea that there is a problem. It is only a matter of time until it really falls apart down there.
What else is there in Blenhiem apart from wine, and a much reduced RNZAF presence.
If you follow Gareth Morgan's adventures you might be aware that Argentina has seen massive offshore investment in their wine industry. The are doing it bigger, better and cheaper than we ever will.
Not that I have anything against Marlborough, one of my favourite places in New Zealand.
Yes scarfie...Marlborough was a great story while it lasted...still life in the region and only the overleveraged got the heave ho....vineyards not in debt will go on to better things and the best whites are still made here.............come back in twenty years when the recession burns itself out and the debts are forgotten.....we have a special carpark experience for you and we will still be paying for it !
To bring some balance to your day....
Four Land Use Vignettes from (Unzoned?) Houston
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1681090
Abstract:
Houston has been called "the hair shirt of city planners." The profession's discomfort stems from the city's repeated rejection of land use zoning – the essential tool of their craft. The unrepentant city touts itself as a model of enlightened differentness: a public-private combination that provides a better formula for managing growth in a modern city. But beneath that Chamber of Commerce gloss, Houston's land use is a far cry from free enterprise in action.
What this article calls "The Houston Way" combines: (1) An adamant refusal to use government power prospectively to guide growth and protect existing investment; with (2) A willingness to respond to specific developer-citizen conflicts with ad hoc solutions that assign the City Planning Commission a unique role in mediating the constant battle between homeowners and developers. Rejection of traditional land use solutions oftentimes places the city at the borderline between legal and not-so-legal regulation.
"Houston, with Dallas Fort Worth and Atlanta, Georgia are the fastest growing major urban markets of the developed world, so they must be doing a few things right."
So now your argument is that we should be copying the urban form of fastest growing urban area 'cos that must be most desirable places to live because that's why people choose to live there, hence they grow the fastest?
However your Texas towns are no match for Lagos, the cities of India, China, Latin America for growth. Mogadishu had a higher growth rate than Atlanta between 2006 and 2010, so by your argument that indicates that more people 'chose' to live there, therefore it is a more excellent city. Lets get some Somali warlords to advise us on our city planning then we can also be like Mogadishu, the Paris of Africa, all round choice city!
I see you are also still arguing that your Texas towns are also wonderful and should be replicated here because houses only cost 2.8x income. Again I point out to you that Twizel houses cost way LESS than 2.8x income therefore by your argument Twizel is much excellenter than even Texas towns and we should replicate Twizels urban form before we replicate Fort Worths urban form.
In summary you're saying that if Auckland was a mixture of Twizel and Mogadishu - full of gun toting nutters in SUV's living in free standing single level houses on big sections - it would be just like Texas and we could all be happy - OMG you're right - you're a genius - YOU HAVE CONVINCED ME - I believe you and look forward to your utopian vision being realized.
Hi Wolly,
Nice 3 bed california bungalow near Marlb Girls was rented at $310pw but now at $290. I was heavily invested in vineyards to but fortunately sold out mid 2007 ( out of the frying pan into the fire !! ). Sold a stake in one vineyard at the equivalent of $325,000 per ha. so I REALLY dodged a bullet there !!
'One of those wealthy teachers'?? My wife was a secondary teacher for 28 years, left a few years ago and is much better off now and doesn't work the crazy hours she did. She has several degrees and highly intelligent, a damn good orchestral player as well. Teaching, and I think NZ'ers in general, never really values people like that although I take my hat off to those who do battle away in the profession. In Singapore the top graduates try to get into teaching because the community there places such a high value on the profession.
Me while I occasionally agree with Wolly he generally says things which are pretty dumb. He actually ruins this site and I am sure he has turned a lot of people from using it. I agree with you. Teachers are under paid and under appreciated. Wolly could never be a teacher as the kids would not respect him and he would be ridiculed. I don't know who he is or what he does if anything as he spends so much time on this site he must be unemployed and contributing nothing to the economy. Wolly please stop rabbiting on so much on this site unless you have something constructive to say which I doubt will happen very often.
As an ex agent who would know better what 'contributing nothing to the economy' was all about...was that where you learned to be a pretty nasty sort of person ex agent...or does it come naturally to you.
Teachers expect to be ribbed by ex teachers...all part of the staffroom sports.
I am a teacher and feel very well paid. I get a good wage week after week ,don't have to worry about sales, the weather, staff or any other matters that used to keep me awake when I was in business. The PPTA embarrass me and also the other 25% of teachers at my school who don't abide by their narrow minded mantra.
Have to agree with you on the pay neili..but the PPTA are teachers top to bottom and without them pushing govt for improved conditions and pay...well where would they all be today.....makes you wonder why the boss at the top gets over $500ooo....nearly $10ooo a week!
Finished all your reports have you...hope no two are the same!
Not being nasty Wolly just being realistic. All by yourself you have taken over and ruined this site. You add very litttle to it except inane dribble and ravings. While I agree with you as to where property prices are going the rest of what you say is generally ridiculous and you embarrass yourself. You would be the most commented on commentator on this site and the comments are not flattering.
Why don't you give it a rest occasionally and just comment after taking a few breaths and thinking about what the audience is going to think. As for excusing your comments about teachers as being staffroom sports that says it all. Teachers are professionals and should be respected as such. As an agent and investor I paid a lot of tax and I still do even though I am sold up except for my home. What do you contribute to NZ other than ruining this site.
Here's a thought for you ex agent... "As an agent and investor I paid a lot of tax"...which came out of the fees you took off the families selling their homes!.....and here's another thought....don't read my inane dribble and ravings!...learn to discriminate ex agent...
This is interesting
"Aucklanders optimistic on house prices"
http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=10691462
sorry Wolly if I want to use this site I have to put up with the daily tirade of comments from you. Why don't you think for a change from someone elses point of view if you can. You comment so much so are inescapable and it is getting worse. Give us a break please. I feel sorry for you. You must have such a boring life if you have to live on the internet. Why don't you do some voluntary work or something and give for a change rather than just make a fool of yourself on this site.
Now there's a facebook group for the disenfranchised hordes
http://www.facebook.com/pages/Houses-in-NZ-are-too-Expensive/1224109844…
HT Scott
cheers
Bernard
Exactly 'Wolly. What do you mean by this comment.Speak plain english so we can understand what you are saying. Put some verbs in for a start. Kakapo I don't have to like someone who has hijacked a site and ruined it. Wolly is so bad someone said he was Bernard just being a stirrer. I doubt that.
Wolly, you have to admit you seem to revel in touting extremist stuff about NZ and especially about property. You come from Marlborough which isn't doing so well, but that's a world apart from much of where NZ'ers want to work and live- nice place for a little holiday though.
Neili, see you are a satisfied teacher and that is cool. But do you think that teaching is a well respected profession? As a university lecturer it was clear the top ability students laughed at any suggestion of becoming a teacher, especially teaching at secondary school. I realise that sounds terrible but it's the reality. If top tier people don't tend to aspire into teaching then second tier people may well find the pay ok, I guess. As I indicated that wasn't the experience in the likes of Singapore.
A good teacher gets respect just like a good plumber a good street cleaner or a good doctor. I don't see why teachers, most of whom have never been outside the education system, should have any more or less respect than other jobs. Too many teachers think far too much of themselves. How many have been in the real world and spent their, not the govts, money employing others? Have you muzza put your capitol on the line trying to make a buck....or just enjoyed the easy way the safe salary route?
A good teacher gets respect just like a good plumber a good street cleaner or a good doctor. I don't see why teachers, most of whom have never been outside the education system, should have any more or less respect than other jobs. Too many teachers think far too much of themselves. How many have been in the real world and spent their, not the govts, money employing others? Have you muzza put your capitol on the line trying to make a buck....or just enjoyed the easy way the safe salary route?
Come on ex agent & Wolly kiss and make up and start acting like big people. Don't let each other get under your skin.
Bring back THE MAN. Didn't he get kicked out for fighting out loud? :)
Bernard that facebook link will be great for all the teachers out there sitting on there individual taxpayer laptops surfing the net. Maybe Wally is blogging during schooltime inbetween Algorithm??
28/29 I actually agree with Wolly's basic point of view that property is stuffed but he just comments too often and his comments are inane and often incomprehensible. He just needs to comment less and use his clutch before he changes gear or rather think before he speaks.
As for the man if he exists he must be stuffed.Remember he admitted he bought another rental this year in Christchurch before the quake. The agents,bankers and brokers I talk to say it is tough out there in housing just as in retail as one goes with the other.Houses go up in value retail booms.Houses go down in value retail suffers as people shut shop. This has a considerable time to play out,maybe years. It is no better in Aussie.Retail is bad over there and Queenslands house values have dropped four months in a row. Mortgage/rent/basic living expenses stress is possibly worse over there than here. Overall having just a home to live in and money in the bank is a great position to be in as values continue to drop for the unforseeable future.
Neili, you seem to have a poor self image of being a teacher, that's not good.
I don't want to get too personal about things but yes, I do have a computing business with my son who is now the manager, and I haven't been in a university position since 2002. I do have a property portfolio, residential and commercial, which I could live on if I chose, and my wife, an ex-teacher, is a professional in her own right.
I think a number of teachers in NZ might be their own worst enemies!
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