The average value of NZ homes increased by $17,184 in January

Property

Average New Zealand housing values rose by $554 a day during January, topping $800,000 for the first time

2nd Feb 21, 6:00pm by Greg Ninness

The average value of homes throughout New Zealand increased by $17,184 in January, according to property data company CoreLogic.

The value of New Zealand dwellings passed $800,000 for the first time last month, increasing from $788,967 in December last year to $806,151 in January. That was an average increase in value of $554.32 a day.

The biggest increase in value last month was in the Thames-Coromandel District where the average home's value increased by $39,290 to $904,897.

Only four districts had declines in average values last month - Waitomo where it dropped by $19,896 to $256,095, Hauraki where it dropped by $12,120 to $488,542, Tasman where it was down by $8717 to $675,597, and Hurunui where it dropped by $1934 to $433,743.

Around the major centres, average dwelling values increased by $21,740 in Auckland last month, $19,264 in Hamilton, $12,808 in Tauranga, $17,067 in the Wellington Region, $16,885 in Christchurch and $10,383 in Dunedin.

Significant increases were also recorded last month in tourist towns such as Rotorua where the average value was up by $5513, Taupo $15,039 and Queenstown-Lakes $7954.

Central Auckland's eastern suburbs, which includes beachside suburbs such as St Heliers and Kohimarama had the highest average housing value in the country at $1,712,828, while average values were lowest in Buller at $234,719.

"The outlook is for further growth, assisted by political commentary regarding the need to protect property wealth," CoreLogic's Head of Research Nick Goodall said.

"Nationwide demand for mortgages through January has already risen above the levels seen at the end of 2020 as buyers take advantage of low interest rates and act with urgency in the competitive market."

On an annual basis average housing values across New Zealand increased by 12.8% in the 12 months ended January, with the biggest annual increase of 34.8% occurring in South Wairarapa.

Altogether 14 districts posted annual value increases of 20% or more.

The average values for all districts and their changes over one, three and 12 months are set out in the table below.

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113 Comments

by Brock Landers | 2nd Feb 21, 6:13pm 1612242829

It's just what kiwis expect. Aroha. BeKind.

by Nifty1 | 2nd Feb 21, 6:16pm 1612242990

Where the hell is Jacinda & Co... negligence at its finest.

by EdwardD | 2nd Feb 21, 6:24pm 1612243483

Meanwhile our PM is at Waitangi. This is a crisis.

by Squishy | 2nd Feb 21, 7:55pm 1612248921

Seeing as they've been disproportionately impacted by this governments lack of meaningful housing policy that's fitting.

by Fritz | 2nd Feb 21, 6:34pm 1612244097

She's a neoliberal, believes in letting the market do its thang

by northman46 | 2nd Feb 21, 7:31pm 1612247515

Unless there's the slight chance that the market will go down, then it's battle stations!

by tothepoint | 2nd Feb 21, 9:38pm 1612255096

Gosh - some big prices hikes now being recorded.

My landlord wants to put the rent up - saying the current rent is too low relative to the value of the property. A blow!

TTP

by Flying high | 3rd Feb 21, 5:37am 1612283861

Options: Move, Rent strike or cough up the 2k per week for your luxury pad. Tim TTP can easily afford :)

by Slapheid | 2nd Feb 21, 8:11pm 1612249912

Nothing to see here.. Oh look over there.. CLImaTE EMerGEncY!!!!!

by CWBW | 2nd Feb 21, 6:26pm 1612243568

Hate to boast I told you so but I seldom do things I would had liked anyway.

For those in the market wanting to buy, time is not on your side. This is the year whereby either you're in or you're out- choose which side you want and be quick.

Even if the property is slightly higher than what you expected to pay, doesn't really matter- it will come back to you within a year. However, if you missed the boat, you will be permanently in locked-out of the property market.

This year is the final gate to property for most folks unless by some stroke of luck you come across a huge pile of money down the road.

Looks like my 30 y.o single malt will taste even more exceptional comes this Christmas.

by frazz | 2nd Feb 21, 6:42pm 1612244528

Can I just double check what you are drinking too..your massive ego or house price rises out of control?

by Jay Lim | 2nd Feb 21, 7:59pm 1612249141

I agree the house price will likely to rise sharply this year. But people always find ways to buy houses.
No need to be dramatic.

by blobbles | 3rd Feb 21, 8:39am 1612294765

Hey, you forgot to add: "And f&$k anyone who is under the age of about 30 who doesn't already own."

by C'est la vie | 3rd Feb 21, 1:06pm 1612310774

I suspect what you're saying is sadly true as I don't expect much from this Government. The kiwi dream of settling down into your own place and starting a 'home' is fading for many. It's probably getting difficult for many to start the second kiwi dream also - leveraging off the home and starting an investment property portfolio from the ground up...

by Wuhan ER | 3rd Feb 21, 2:21pm 1612315309

In any other market this comment would be strong sell signal. Might be anyway.

by Rob Reid | 3rd Feb 21, 6:48pm 1612331301

Yeah CWBW: Can't Win By Work

by WellingtonInvestor | 2nd Feb 21, 6:50pm 1612245023

Why bother working at this rate when an average house will make more money than someone working?

by Squishy | 2nd Feb 21, 8:29pm 1612250945

That's the brilliance of asset bubbles, they are caused by declining productivity and their outcome is further declines in productivity as people leave jobs. That's why you've seen the net result of RBNZs stimulus has been the need for further stimulus.

Sadly Reserve Banks are driven by ideologically inflexible old men who all went to the same schools, same universities, have the same background and experience...there isn't any application of cognitive ability.

by Pusheen | 3rd Feb 21, 10:51am 1612302680

Ha ha, gave our one finger salute since 2013, to MCNZ and the rest of local cartel - 'game changer' uh? more NZ graduate eh?...Well, (after E)*** you NZ:
https://www.msn.com/en-nz/news/national/staring-down-the-barrel-of-nzs-…

Eat all those housing, then visit us across the ditch for your medical procedure.. if can't wait there.

by Carlos67 | 2nd Feb 21, 6:53pm 1612245238

Awesome. Yep even Tauranga will be $1mill in a years time at this rate. Shame the pay down here is like $25hr if your lucky. Great place to bring your hard earned Auckland capital gains and retire tho but make sure you don't need a job.

by bw | 2nd Feb 21, 7:18pm 1612246714

And you don't need to get down Totara Street or Hewletts Road in a hurry. Lots of choice of shops to buy/lease down Devonport Road though.....

by Squishy | 2nd Feb 21, 8:33pm 1612251203

I think you're being a bit pessimistic, when the border reopens a tidal wave of new demand will be unleashed into the market. You might well make it to a million this year.

by tothepoint | 2nd Feb 21, 9:22pm 1612254161

I've been taking a serious interest in Feilding, which is in Manawatu, about 18km from Palmerston North.......

Palmy prices have gone through the roof the last couple of years - and I reckon Fielding might be next??

TTP

by Fritz | 2nd Feb 21, 9:25pm 1612254338

Gonna jump in and buy then and become a home owner? Walk the talk TTP?

by Pragmatist | 2nd Feb 21, 10:42pm 1612258969

Lol, this is just pathetic low key spruiking for his business. He's already got a rather nice place overlooking Hokowhitu Lagoon.

by Fritz | 2nd Feb 21, 10:45pm 1612259125

Has he or hasn't he? Does he rent or own? Is he a bullshit artist or not?
Sounds like he might well be a BS artist.

by Nzdan | 3rd Feb 21, 7:34am 1612290849

If it is indeed Tim, then a quick search of the companies register will give you some details on his registered address on his director's declaration (assuming that's factual).

by kiwikeith | 3rd Feb 21, 9:58am 1612299496

Feilding is an interesting case. There is the Oroua river on the east side of town and flat farmland in the 3 other directions. The Feilding borough is about 4 sq miles ie 2miles by 2 miles. A 700 sq metre section in Feilding sells for $250k ie $1.5m per acre. 400m down the road and across the town boundary line farmland is valued at $15k per acre. ie a factor of 100 to one. House prices in Feilding have already exploded and are not too far behind Palmy.

by Brock Landers | 3rd Feb 21, 10:58am 1612303106

Lets do this!

by karl seastrand | 3rd Feb 21, 11:24am 1612304667

Feilding currently has an out of control meth problem.

by kiwikeith | 3rd Feb 21, 4:09pm 1612321773

The problem with Manawatu, apart from the drug abuse (before the meth problem the smell of pot hung over the town more often than the smell of the freezing works) is the darn weather. Mercury Energy reckons Manawatu has the best weather in the world for a reason. It is far more windy than wellington.

by Foxglove. | 2nd Feb 21, 6:54pm 1612245270

So how exactly does this work on average then? A figure of an average house price increase nationwide is virtually meaningless to individual property owners, relatively. In other words for instance, what does that figure actually mean to a home owner in Winton Southland compared to a counterpart in Mt Eden, Auckland. Sweet Fanny Adams I would suggest.

by Carlos67 | 2nd Feb 21, 6:55pm 1612245355

No it does mean you can sell your epically overpriced rot box in Auckland and buy a near new home in the regions and have money left over, lots of money left over in some cases.

by karl seastrand | 2nd Feb 21, 7:53pm 1612248787

But if you brought your kids up in Akld and they wanna stay where their friends are and where they feel comfortable you better keep one of those rot boxes for each kid. After all they may never be able to afford one themselves.

by gnx | 2nd Feb 21, 8:17pm 1612250228

I think anyone’s children will find half their friends have left by thirty... they will make some new friends but again half of them will leave again... Auckland has become a very transitory place for young people... those that stay have put down roots or had children but a failed relationship and can’t leave... now it’s going to be so much harder for the young to put roots down and so much harder for families to help them too

by karl seastrand | 2nd Feb 21, 9:29pm 1612254550

You are right. The smart ones are fleeing like rats on a sinking ship. Unless they need to work in Auckland or are saddled there because of kids from a break up I really do not know why anyone over 35 would live there. I returned permanently to NZ a year ago and never even considered Auckland.

by Fritz | 2nd Feb 21, 9:43pm 1612255392

Despite its flaws I think Auckland is by far the best of the bigger cities to live in, in NZ.
But you need to have a reasonably high income, and live in a location that avoids nasty commutes.

by Lord Dowding | 3rd Feb 21, 7:14am 1612289691

They all come back in the end as myself and all my of friends have. Auckland is one of the best cities in the world and is hands down better than any other Australian city.

by Fritz | 3rd Feb 21, 9:05am 1612296337

It's a very nice city. I love Sydney, although I think Auckland is more livable. Sydney has more wow factor though.
Auckland's biggest issue is its cost of living, not just housing but most things.

by Fritz | 3rd Feb 21, 9:06am 1612296381

Yeah it's drawn me back a couple of times...

by Dave Moderato | 2nd Feb 21, 7:08pm 1612246139

"Look over there!!" it's a climate emergency!!

by Flying high | 2nd Feb 21, 8:01pm 1612249268

Look look covid vaccines/transtasman bubble ... bait for the National Party

by brisket | 2nd Feb 21, 7:20pm 1612246827

What a masochistic nation. We’re baking in so many future problems. But hooray!, I guess. Bigger numbers are better, right?

by Fritz | 2nd Feb 21, 8:09pm 1612249740

Such a short sighted nation.

by gypsymanz | 3rd Feb 21, 7:36am 1612290963

It is almost as if people can only see as far as their own life times, or maybe noses!

by Pusheen | 3rd Feb 21, 10:43am 1612302219

Sign of growth, better than expected by all authorities.

by Yvil | 2nd Feb 21, 7:25pm 1612247112

There is so much money out there, it's hard to believe

by Narrabeen Boy | 2nd Feb 21, 8:23pm 1612250580

So so so much money!!!!!

by CWBW | 2nd Feb 21, 8:37pm 1612251424

A week or two ago I mentioned there's room for upward valuation in NZ properties and that had confounded lots of people, then.

by karl seastrand | 2nd Feb 21, 9:32pm 1612254733

what do you think the chances are of a 25% drop in property prices in the next 3 years?

by Yvil | 3rd Feb 21, 10:01am 1612299698

I think there's a fair chance for property prices to drop by 25% in the next 3 years, which will take them back to about 25% above what they are now

by Carlos67 | 3rd Feb 21, 10:28am 1612301291

Zero Karl. If you remember I was predicting exactly the same 25% crash at the start of covid-19. The reason it did not happen is because the government kindly stepped in and rescued the property market. Remember be kind out there.

by mikekirk29 | 2nd Feb 21, 8:49pm 1612252145

A lot of what you refer to as "money" is debt

by C_T_20 | 2nd Feb 21, 10:37pm 1612258663

Correction: “ALL of that extra money is debt”...

by gypsymanz | 3rd Feb 21, 7:37am 1612291050

And not just the extra money either almost all money is debt, or Private Bank credit if you like.

by Yvil | 3rd Feb 21, 10:03am 1612299799

Whether the extra money out there is debt or not is irrelevant, there is just so much money looking for some return higher than TD's

by Pusheen | 3rd Feb 21, 10:42am 1612302161

Who knows, the more of those phantom numbers out there? NZ house prices will set into bigger numbers like those in some ASEAN countries currencies, with that 800K? don't bother to buy a house, use it to buy 3stars budget international hotel chain there.

by Galloleous | 3rd Feb 21, 10:11am 1612300303

Buy Bitcoin! you hold the keys, NO ONE ELSE IN THE WORLD can hold that Bitcoin.
It is the purest form of collateral ever.
Eventually people will put the pieces together, maybe when the money printer is at 150% BRRRRRRR

by pacifica | 4th Feb 21, 1:08am 1612354100

Correction it is the hard drives and exchanges that hold the keys. You hold less than a guarantee to honor what is in your wallet. It is worse than a bank and there is much much more market manipulation.

by Carlos67 | 4th Feb 21, 7:50am 1612378244

Yeah its subject to someone else just making up a digital currency out of thin air with a limited supply. Bitcoin is the ultimate Ponzi scheme.

by Pusheen | 3rd Feb 21, 10:30am 1612301422

So much so, even with months of no trading, profit dividend to share holders and still able to donate a sums of subsidy back to the coffers, albeit some decided to keep it.

by Cowpat | 2nd Feb 21, 7:30pm 1612247439

Remarkable , if every caring team member , in appreciation, donated just last months property value increase , the cost of climate change over the next 14 years would be fully covered for all New Zealanders.
" Climate Change Commission puts $34 billion price tag"

by gnx | 2nd Feb 21, 7:49pm 1612248572

Im reading elsewhere BNZ has gone to 60% lvl for investors.....

I can smell the end of interest only loans too

I think the most expendable will be put on the block first..those owning multiple properties all on interest only loans and using equity to grow the portfolio..nobody will care for anyone who has purchased ten or more houses so politically doable..

just my hunch...

Shakespeares said "only believe half what you hear and half what you see"...still true today...oh to be a fly on Mr Orrs wall?

I would suggest we the public have little idea what's really going on and even less of what is coming

by Mountie | 3rd Feb 21, 7:42am 1612291334

Can you share the source of your BNZ intel?

by Pusheen | 3rd Feb 21, 10:33am 1612301609

Orr & team have mentioned this item before the election, so? expect the QE printed figure more to govt, to sway attention into this world breaking initiatives.. RBNZ & current govt, are both need to keep the world at shock, with the 'speed & magnitude' of their actions - and the good old world will follow.

by cromulent | 2nd Feb 21, 7:37pm 1612247827

"The outlook is for further growth, assisted by political commentary regarding the need to protect property wealth,"... Honestly you have to question whether it's incompetence or corruption now. Either way it's a sad state of affairs.

by Lord Dowding | 2nd Feb 21, 7:40pm 1612248023

Holly f even Wellington has gone over 1 Mil now.

by Dale Smith | 2nd Feb 21, 7:48pm 1612248489

The number of sections and housing being sold off the plan for developments that won't be titled for 12 to 24 months is a red flag.

Many of these 'sign-ups' will be purely speculative driven with people expecting to have on-sold prior to settlement or are expecting the market to be even better buy then.

And they have no way of securing lending to approx. 3 months out from settlement so many of them will be flying blind lending wise.

by karl seastrand | 2nd Feb 21, 8:09pm 1612249749

Give out a few Maori ministerial positions, use a bit of Te Reo, make the right noises at Waitangi, wear some indigenous apparel and then use all these token gestures to cover the fact that you are ensuring a huge number of Maori are marginalized forever through the debilitating and all powerful billy club of excessive and ever increasing rents and house prices. An inclusive society. Yeah right.

by pacifica | 4th Feb 21, 1:15am 1612354511

Far more tokens than the disabled get. Welcome to the real world. Where suicide or prison life of housing and 3 meals is still far better than the past few years of medical cuts that include organ bleeding. Hence did you fail to realize this was also why there was a spike in geriatrics committing crimes in Japan. The prison life was too good to pass up compared to not affording basic food at least once a day & being in crippling pain bleeding out of organs. It is a toss up though and what you sacrifice can be a hope in hell NZ comes to its senses.

by Squishy | 2nd Feb 21, 8:09pm 1612249790

Just another excellent months work for St. Jacinds, Patron Saint of Property Investors. The climate change "emergency" was a brilliant bit of politics as they say "If you don't like what people are saying just change the conversation."

I think we may well see a very strong tailwind for property when borders reopen as well. This could be an incredible year for the government in terms of inflating property.

by Foxglove. | 2nd Feb 21, 8:25pm 1612250737

I think we are in the beginning of a government that is on the brink of being found out by dint of any substantive policy being sadly lacking economically, societally and plentiful mealy mouthed words and role modelling to fringe influencers from all points of the compass. Here is where it is difficult though, the last lot in government were hardly better. God defend New Zealand.

by Squishy | 2nd Feb 21, 8:45pm 1612251921

You are thinking about government in old terms of achieving defined outcomes, measurable goals etc. What St. Jacinds realises is that we are living in a post-factual age, for the Prime Minister it is better to be seen to be doing the right thing than to do the right thing. Accountability no longer matters in politics.

by Foxglove. | 2nd Feb 21, 8:56pm 1612252585

Accountability no longer matters in politics. Ain’t that the truth. Actually who the heck is accountable nowadays in any walk of life including criminals.

by Fritz | 2nd Feb 21, 8:32pm 1612251137

Yeah borders opening could give another boost to prices for sure. Probably won't be till at least early next year though.

by Squishy | 2nd Feb 21, 8:47pm 1612252026

Don't worry, the rubber stamps are fully inked.

by Yvil | 2nd Feb 21, 8:20pm 1612250433

12.8% increase in value for all of NZ over 12 months is high but nothing extraordinary, there was much higher growth over the 2002-2007 period as well as 2012- 2017

by Fritz | 2nd Feb 21, 8:25pm 1612250744

That's 12.8% using the HPI Yvil. Remember that didn't exist in those earlier years.
The median price is up about 20% in the last 12 months isn't it? That's high, even by historic standards.

by Jonny.Foe | 2nd Feb 21, 8:29pm 1612250970

It's funny, if Govt intervened and locked rent increases for two years, regulated LTV, and entertained the idea of capping resale values at RV + cost of *consented* improvements etc, this comments page would boil over with vitriol. Govt are damned if they intervene and damned if they don't. So don't be suprised when they play it safe. And, don't give me the constrained supply line - 'supply' is the pantomime villain in this story.

by Squishy | 2nd Feb 21, 10:04pm 1612256694

Definitely, welcome to government. It's better to do nothing however because property owners vote and poor people don't.

by PocketAces | 3rd Feb 21, 6:34am 1612287288

They are actually doing a whole hell of a lot more than the previous govt, but they will have to do more, they will have to do things the other lot would never consider.

by buyandhodl | 3rd Feb 21, 11:11am 1612303881

What on earth are you on about? They've:

Provided subsidies to FHB (Treasury warned them this would be inflationary at the lower end and not solve the issue.. and it has been)
Ruled out any form of equalizing the tax treatment of property and other asset classes
and;
embarked on Kiwibuild which doesn't address any of the fundamental issues with our housing market, naturally of course it was a failure.
and it's taken them till the start of their second term to tackle the RMA, something they would have been told on day 1 by Treasury is a key stumbling block.

While I would usually agree with you that 'the other side' tends to be useless at stuff like this, in this example they aren't. Judith Collins would have given every major city in NZ the 'Christchurch Treatment'. See, we had an earthquake in Chch in 2011 and that knocked over a bunch of dwellings. In response, the RMA was suspended and central govt put in more $$ for new infrastructure than they usually do. They also forced 30 years of land supply to be released to the market all at once, rather than drip fed which is what every other council does. Drip feeding it enables market concentration to occur as a small number of developers control all the supply, pushing development land prices - and thus end dwelling prices - up. Every other high growth area suffers from this and the price that new dwellings are brought to the market is reflected in the prices achievable for existing dwellings.

The 'Christchurch Treatment' has helped keep supply buoyant, competition between developers high and price growth low in Christchurch over the past ten years. Doing this in our other major centres would certainly dampen house price growth and increase affordability.

by PocketAces | 3rd Feb 21, 6:33am 1612287203

This morning, just before 6.00 on RNZ, an item about house prices. A few prospective buyers were interviewed. Not. One. Single. NZ. Accent.
ENOUGH!!!

by pacifica | 4th Feb 21, 1:17am 1612354670

To be fair Billy T and Fred Dagg are not on tv much now anymore, most NZ shows are skipped for online shows & accents and the closest classic NZ accent is more likely to be on Star Wars or Far Cry.

by GV 27 | 3rd Feb 21, 6:33am 1612287212

So you need an executive salary ($250K before tax) to keep up with the average house price growth on an annualised basis, assuming you don't eat or pay for somewhere to live in the interim? Yea, this is definitely the New Zealand I want my kids growing up in.

by 1986 | 3rd Feb 21, 8:26am 1612293995

The wrong people become politicians

by VictorMeldrew2 | 8th Feb 21, 10:50pm 1612777839

Move south, buy a house 1/3 the price, problem solved. Thanks me later

by Nzdan | 3rd Feb 21, 7:31am 1612290690

30.8% for Masterton. I ain't complaining!

by frazz | 3rd Feb 21, 10:22am 1612300949

Yiy should be ...its Masterton

by Nzdan | 3rd Feb 21, 11:24am 1612304647

Nothing wrong with the place, as long as you can find decent work.

by Foxglove. | 3rd Feb 21, 2:48pm 1612316891

Failing that. Indecent work then?

by Bluff | 3rd Feb 21, 8:50am 1612295410

So many problems in the world to fix & nu zeelunds contribution is to leverage up even more to prop up housing

by Spectators | 3rd Feb 21, 9:21am 1612297264

As an owner-occupied homeowner my bank account hasn't changed. I have the same amount of money. If we sold then we'd just have to buy in the same market. Can't leave this city as my occupation is really only here or Auckland. The bank wouldn't let me draw down on equity so I can invest in the share market. My equity isn't enough to buy a investment property outright. So how do I extract my house price increase without taking on more debt? Why am I not feeling wealthier like RBNZ says I'm supposed to?

by blobbles | 3rd Feb 21, 9:34am 1612298081

Because you have an understanding of leverage, debt and paper valuations. Unfortunately the general public are oblivious to at least 2 of these.

by ShoreThing | 3rd Feb 21, 9:54am 1612299252

Why would you need to buy an investment property outright with your equity? There is functionally no difference between increasing your mortgage on your primary residence and taking out a mortgage for the investment property. You just need to pick up a rental or two and generate some cashflow to cover your increased interest costs.

by Spectators | 4th Feb 21, 5:10pm 1612411823

I don't want more debt

by Mountie | 3rd Feb 21, 10:31am 1612301496

Why did they say no to drawing down to invest in stocks? We've done this several times since 2003. Borrowed, paid it back using the dividends, borrowed again. Buy and hold, pay back the debt.

by Wuhan ER | 3rd Feb 21, 2:23pm 1612315389

You're doing it wrong mate. Borrow, borrow, borrow.

by Brock Landers | 3rd Feb 21, 9:51am 1612299060

Heaven help this stupid country when interest rates rise.

It will be a bloodbath.

by GV 27 | 3rd Feb 21, 10:17am 1612300628

Unfortunately it will wipe out many people who have stayed put and done their best to get on top of ridiculous mortgages for family homes they should never have had to borrow in the first place as well.

by brisket | 3rd Feb 21, 10:49am 1612302575

They won’t rise.
RB will not raise interest rates, even if we see massive inflation.
I honestly think we’d have to have petrol at $5/l and Vogel’s at $13/loaf before the idea of raising rates and quashing the property market will be considered.

by Brock Landers | 3rd Feb 21, 11:06am 1612303573

Dangerous thinking. The reserve bank is mandated BY LAW to meet certain targets.

Orr likes to remind us all this is what he must do every time he curb stomps the working and middle classes with interest rate cuts.

by brisket | 3rd Feb 21, 1:28pm 1612312100

The law can be changed with a stroke of a pen, and it will be if that proves necessary to protect the housing economy.
The Fed has set the precedent there. If we suddenly find we have 5% inflation, they'll say, "well, it's only been 1% for two years, so if we let at run at 5% for 2 years it averages out and meets our target...."

by Averageman | 3rd Feb 21, 9:11pm 1612339862

Really...? Inflation control is their main task. And rates are the only way to slow rampant inflation. Anyone remember what rates were during the 70s?

by Alter Ego | 4th Feb 21, 2:05pm 1612400707

25% on overdraft for a 3 house blunder. I remember it well...luckily not me.

by Pusheen | 3rd Feb 21, 10:16am 1612300595

Wow, just from the title.. NZ already beats out of OZ for housing cost, in par with Syd & MelB. With those pricing even rural NZ surpassed Perth, Adelaide, Brisbane. WOW. Be kind to each other clearly works there.

by Pusheen | 3rd Feb 21, 10:25am 1612301132

Already gave positive suggestion for the way out: Negative OCR by March (knew right, the Banks already worried about it), More 200billions QE, shifted to govt 'in the name of climate/carbon neutral actions' (we knew, where it will end up though), then FLPs of 100billions into non banks lenders, specifically allow it for 'property business'.. to prop up further the 'supply issue' .. albeit 'non-affordable' such as the CCP ghost cities. Lastly, never toying out with DTI, leave LVR off.. and more importantly? - remove the bright line test immediately.

by FCM | 3rd Feb 21, 12:39pm 1612309158

Thankyou..I can now leverage off the property to buy that EV, add some solar panels on the roof and a purchase a nuclear powered Barbie.

by Kiwigem | 3rd Feb 21, 2:09pm 1612314559

Who really owns NZ? NoW
Curious as stats are not current or currently exploited.
Due to poor legislation I wonder if the Govt are planning on building houses in the sky because there will be no land to build on in the future unless you can afford it.Which most can't..
Be prepared NZ to have your kids live with you forever and there kids and so on..I expect NZ rich all practice in the art of Commercial investment.Will fare well... GUESS us kiwis who link here over 150 years just stand by watch our quiet way of life be exploited. If we can afford to breathe probably find a way to charge for air too.
Change is good but for who??

by Just a farmer | 3rd Feb 21, 3:09pm 1612318167

[Rocket emoji] To the moon!

by Averageman | 4th Feb 21, 11:32am 1612391563

Everything is set to protect property debt. Access to unlimited leverage, low rates, interest only, all while ignores crippling rents underpinning inflation arriving near term. It adds up to rewarding rediculious debt speculation unsupported by yield, while punishing conservative saving.

For Labour to continue to support this they are either complete political sells outs, or truely scared spineless by what should happen.

Protection of property debt has become our most sacred cow.

by Alter Ego | 4th Feb 21, 2:02pm 1612400578

Can anybody please lend me some money as I want to go short on Stocks and Sharsies and Also want to put on a down payment on a fantastic opportunity to fund a motel for Covid lockdown accomodation, before the Vaccines turn the corner and Social Welfare takes hold.

And I also need to lend some munny to my local Charity, a new Swimming Pool in Cambridge as they have gone 50% over budget and the water table is dropping and the river is being poached by Awkland. Luckily Waikato is flooded with newcomers, so I cannot go wrong, invested interests, not withstanding.

Cash deposits only...pretty please.

I can repay you in "Kind"...in a few years time, when all is said and done and Kind Jacinda, raises the flag and the Reserve Bank finds its true glory in citing a recourse on paying of your mortgage in its entirity, when rates drop to "Normal".

Ta everso. a mere trillion will do. Joe....Ps..it will not be Biden, sorry...Binding....unless this is printed on future returns.

Oh and if I invest in Thailand I will keep my mouth shut as the penalty is 43 years...and Counting. ...And a lot are.

Oh and hopping into Hospital outside of Russian Borders, is a crime of the Century....Go figure, when unconsciously ...Bound....last sentence.

by VictorMeldrew2 | 8th Feb 21, 11:04pm 1612778666

In 2 words, 'Move South' young/old man/person. Look at Christchurch prices above, bargain, 2nd biggest city, driest in 2020 (Wellington wettist) and not near the Alpine fault