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Prices down and stock levels rising as 2025 gets underway for Barfoot & Thompson

Property / news
Prices down and stock levels rising as 2025 gets underway for Barfoot & Thompson
Barfoot sign

Barfoot & Thompson has started 2025 with a surge in new listings and total stock for sale, while selling prices headed lower.

The real estate agency, which is the biggest in the Auckland market, received 1361 new listings in January, the highest number for the month since 2021.

Sales also pushed higher, with 700 sales becoming unconditional in January, the highest number for the month since 2022.

However, the total stock of properties for sale was also up sharply, rising to 5383. That's a 14% compared to January last year, putting total stock for sale at its highest level for the month of January since 2011.

The rise in stock was accompanied by a fall in selling prices.

Barfoot's average selling price in January was $1,053,446, down $133,016 (-11.2%) compared to December, which was the lowest it has been in any month of the year since October 2020.

January's median selling price of $950,000 was down $50,000 (-5%) compared to December..

The combination of lower prices and rising stock levels adds further strength to the growing mountain of evidence the 2025 housing market will be strongly in buyers' favour.

"The focus of buyers in January was the lower price segments of the market with 56 per cent of our sales in the month taking place in the under $1 million market," Barfoot & Thompson Managing Director Peter Thompson said.

"Our average number of monthly sales in the under $1 million market during 2024 was 51 per cent," he said.

Barfoot Auckland

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181 Comments

I'd predict 200 comments.

Up
25

300

Up
14

I hope the Spruikers got a good nights sleep, its going to be a very tough year.

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27

Might as well put a massive neon sign up in Auckland: OVERCOOKED OVERSTOCK SALE - all offers considered. 

 

"putting total stock for sale at its highest level for the month of January since 2011.

The rise in stock was accompanied by a fall in selling prices."

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25

They'll be dreaming about bottoms again

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7

I’ll predict further falls in interest rates …..

TTP

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4

Brave prediction given the global economic environment…

SKF

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9

Comment inventory rising even as demand falls.

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15

popcorn, sweet popcorn! anyone need any popcorn? 

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22

One please 

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18

Extra butter

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7

The crash has begun,  might need more than 🍿 

Up
16

Yesterday I was advised this wasn't a crash anymore because prices had only been falling a little bit after the massive falls. 

So I guess now we're possibly starting the 2nd crash despite the previous crash never actually stopping. 

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7

The crash has begun,  volume comments is irrelevant 

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9

Ponzi unwinding. Unfortunaly it has fueled wage and price spiral up and ultimately the sqm rate to build with it.

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2

That’s a big drop. Good.

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36

The tap has just started to trickle,  ✋️ till it starts to pour...

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14

Spruik that.

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22

average selling price has nothing to do with median house prices.

Highest number of sales since 2022, buyers coming to the market.

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11

I can feel you seething from here. 

If you read the article you'd note the median is down 50k as well.

Sales don't matter if they are lower in proportion to new listings.

 

 

Up
38

If you actually read the article you will see you misrepresent what it says.

If you read the article you'd note the median is down 50k as well.

Should be corrected to 

If you read the article you'd note the median sale price is down 50k as well.

Median sales, not median price.

January's median selling price of $950,000 was down $50,000 (-5%) compared to December.

That only indicates people are buying below median properties.

As usual you are twisting data to fit your narrative.

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6

Actually if anything these prices are still artificially too high as if sales were at normal levels (ala 2015 to 2019) much more price discovery would be happening and the median even lower.

By the way HPI for December looked abysmal too if that is your fallback.

I know you are mad that your equity is being beaten up but gotta call a spade a spade.

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36

What makes you think 2015 to 2019 are normal levels?

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5

2015-2019 didn't have ridiculously low interest rates as they did between 2020 and 2022.

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17

2015-2019 prices would provide a great opportunity for investors.

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2

Wow, I’ve got to admire your commitment to the cause. 

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26

Rookieinvestor =/= Masterspruiker 

 

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23

Angry from Mayfair 😊

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1

It's always good to be cautious with small, noisy data series. 

The self-reflection is whether you are similarly cautious when the data supports your hypothesis and/or investment position.

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6

Asking price only gives an indication of sellers beliefs about the market.

Sale price tells us where the market actually is.

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16

Really living up to your name…

SKF

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4

or what mix of properties were sold. The HPI is the only metric worth paying attention to

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5

correct.

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2

Median is still useful.  At least better than average.

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7

Only because there's a lack of data published on underlying trends on housing types. (regional figures ok)

HPI is like a stock market index

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1

The spruikers will invent something 

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3

I wonder what they’ll say when the HPI is down?

“We’re heading into winter, it always slows down!”

”Look at the median prices in Christchurch!”

”Interest rates will be opening up FHBs!”

in any case, I’m sure the mental gymnastics will be olympian.

SKF

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10

The barfoot prices will bounce back in February as they usually do (seasonal) but certainly wont erase the 130k loss so my forecast is that the spruikers will hold on to that dearly this time next month.

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4

January's median selling price of $950,000 was down $50,000 (-5%) compared to December

Must be some healthy rounding going on with these stats. 

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15

Not necessarily, the median will always be an actual sale value and actual sales are quite often round numbers. 

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9

Good point

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2

The desirability of Auckland property continues to deteriorate.  Why?

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10

More and more apartments and townhouses coming online which is driving down the average sale price I assume? Like for like property probably hasn't changed all that much. Just a guess.

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7

No chance these are independent markets. Prices change at the margin. The townhouses will be bringing down everything else

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3

I wouldn't pick that.  All of Auckland overpriced relative to rentals.  Everybody thinks prices are falling other than theirs.  The fundamental problem is that supply is overtaking demand

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13

Auckland deteriorates.  Why?

Because Auckland got more ridiculous than the others and is now just returning.

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16

It's sad,  pathetic and overvalued 

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4

I can recall one commentator on here warming repeatedly that unless FHB purchase before Xmas they will have missed this cycle and be locked out of the market. Be careful who you listen to. 
 

Price could keep falling all this year with buying conditions improving for FHB as prices drop, interest rates drop a bit more (no expecting much more) and their deposits increase while more stock keeps coming into the market. 
 

Don’t be quick. The best time to buy a house is not always yesterday. Sometimes patience does pay.

Up
51

Listening to spruikers is like listening to REAs. 

Don't.

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28

I wouldn't listen to DGMs either. 

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7

Those who prophesised the demise of the property ponzi have been proven correct time and again. 

It would be prudent to start listening.

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30

It would be irresponsible to listen to anyone here.

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7

There are some smart cookies here.

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23

Yep no doubt about it, I still wouldn't solely listen to what they say without doing my own research and due diligence.

They might just expose me to something I'm not aware of.

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5

They might just expose me to something I'm not aware of.

Like reality? 

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18

Conspiracy theorists.

Do not worry Agnostium, you're not one of the "Smart Cookies".

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4

😂

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9

The NZ housing market is in free fall like Building 7.

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10

I actually think you are right about the way Homes is valuing suburbs by the way.....

I learnt a long while ago real value is what someone will pay you, many of these rookies have never tried to sell a house in a downturn, neither have many agents.

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10

Thanks ITGuy, I actually posted it for the benefit of the people that don't know how it works so they don't get suckered into paying more than they need to. Figure you know what you're doing already. 

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2

How does one due you due diligence to foresee a year of continued declines and new bottoms at every data release?

 

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1

Many of them were only correct about 15 years later.

In almost all cases, house prices are still higher now than they were then they first started their prophecies. 

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4

Is is actually impressive, even if perverse, how hard the government and RBNZ have worked to keep it going this long. Auckland was already recognized internationally as being in a bubble in 2006 - and the government allowed that to spread to the rest of the country.

Then again, when they recieve multiples more than the average earner, and own multiples more houses, it's not surprising.

MPs salaries should be indexed to other public servants - like teachers, police and nurses.

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16

MPs went all in speculating on property, and ran policy to support their investments. Latest iteration being our present PM.

Our housing crisis is a moral one before a policy one.

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15

Aussie politicians are the same.

 

 

Just became illegal to trade stocks for US politicians (or in progress), worth considering if we should have similar rules and maybe even around property investment....

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3

The collapse isn't over yet.

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10

Listening to spruikers is like Listening to the devil welcoming you to hell

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3

Barfoot's average selling price in January was $1,053,446, down $133,016 (-11.2%) compared to December, which was the lowest it has been in any month of the year since October 2020.

Ouch, thats a huge drop !  Will be interesting to see if the HPI confirms this. 

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15

I reckon waiting until April's figures including February and March before identifying a trend. Typically is the 2nd busiest time of the year so good indicator of future months.

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3

True thinker.  But I also listen a bit - a bit -to any indication like this.

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1

Last week was hard for DGMs on interest, this article has put a spring back in their shuffling step though... they love their averages if it show house prices dropping.

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6

In the bible it says to love thy enemy. Perhaps to find peace Nifty you could trying sending love to those you disagre with instead of sending hate towards them in nearly every comment on this forum (DGM this..DGM that…DGMs are wrong…DGMs won’t like this). 
 

I’ll send you my love via this forum and hope  you find peace in a world full of doom gloom merchants who want an affordable housing for themselves or for their children. 

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25

Are you on the right website I/O? This isn't christiansingles.com

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7

I see that your only way of responding is to try to offend or to ridicule. 

Each to their own - we each reap what we sow. I found (from experience in my younger years) that ridiculing people had a tendency of backfiring in me in the long run (even after the initial sugar hit of feeling superior to the other person momentarily). 

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13

The last week was filled with speculation and opinion, the same kind I’ve been seeing for years on here, today the data is showing the reality that has been.

SKF

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8

Second leg down I'd say. Recovery is still a long way off with no obvious reason for one in sight.

Is anyone involved in policy doing any actual research and analysis to prepare NZ for the possibility of further dramatic falls? Or is 'talking up the market' just too important?

Any genuine ideas here for what we might do if confronted with the kind of past falls seen in Ireland, Japan, Spain, etc? Some kind of policy to protect homeowners without necessarily bailing out investors and speculators for example?

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22

Yes I am involved in actual research and analysis. To remedy pretty much all the issues NZ is experiencing, it is all pointing towards an abolishment of central government and compulsory euthanasia at 70.

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7

Could I suggest that you just give them a one way ticket to Australia Those that can afford to live there without a pension can leave.  Then euthanise the rest. 

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1

Australian house prices are far dearer than NZ in the cities.

If you want to live in undesirable places then you will buy better.

 

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0

Nah, they're not. Like for like Aussie is not as expensive as here.

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15

Without comparison of type: by the numbers he's mostly right.

Oz median is ~10k higher than NZ, and average ~40k.

But I only say mostly right because these numbers are only nominally 1-4% dearer, which doesn't make them "much" more expensive.

But take incomes into account, and the type of property, and Oz is much cheaper. (Their median earner would be in our upper quartile).

They only seem more expensive to someone locked onto a NZ-earnings perspective.

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5

They are far dearer in the Cities than NZ without doubt.

Australia obviously much larger and the ones in the wop wops drag the average down majorly.

For example, you can buy an apartment in NZ city for 700k or less, go to Sydney, Melbourne or Brisbane and you will be paying a million plus unless you are miles out.

At the end of the day if you think things are better in Oz, then go and check it out.

The Ozzies are all complaining about everything over there you only have to watch Sky News Australia.

On average they are paying on average $50k more interest than they were previously, so you have to gross $70k more be in the same position.

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2

 if you think things are better in Oz, then go and check it out.

I did, and it is :) posted comment on 17th Jan morning brief (our 1 year migration anniversary) detailing our experience thus far.

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2

Australia is many multiples more expensive than NZ. Yes, there are "cheaper" houses on the city fringes however those neighbourhoods make Pokeno look like St Helliers. 50km out of town, 50c in summer, 5c in winter, toll roads, schools I wouldn't send my kids to.

You want anything like a reasonable commute to a beach and a decent school and cosmopolitan lifestyle, you need $3m+

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2

Huh. A cursory google shows a 3brm 716sqm house 9km from Brisbane CBD for $1.1 million. And a 5brm house on 630sqm of land 19.8km from the CBD for $888,000. So still significantly better than Auckland, not many multiples more expensive than NZ and "cheaper" on the city fringes.

We lost some talented staff to Brisbane over the last few years, moved over and bought nice houses at a better equation than Auckland.

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2

Te Kooti,
Actually we are moving into a smaller home and just sold our house in Brisbane. Excellent schools zone, 4km from Brisbane CBD, literally 5 mins walk to Brisbane's biggest and best hospital, university nearby. All we got was just over 1mil for 2 br and study, 500sqm land. I wish I could have sold it for 3+ mil.

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2

over 1 mil for 2 bedroom and study, geez....

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0

4km from CBD, similar distance to Grey Lynn, Greenlane, Newmarket, Newton. Now how much for a 2br for those area on 500 sqm?

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1

I'd recommend not watching sky news Australia

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4

AUD vs NZD makes Aus property slightly more expensive too for NZers (+ Stamp duty tax makes their prices more expensive too)

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1

You also need to take into account the access to jobs, amenities, and opportunities, the build quality of Aussie and the transport system - which all factor into like for like. 

Aussie beats NZ hands down for affordability.

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2

You are talking untruths.

Go and talk to the Kiwis  that lived there and are now back in NZ.

You are deluded if you believe that city living is cheaper in Oz.

People with mortgages or are renting in Oz are struggling big time with homelessness over there for huge numbers.

Anyway, pointless debating it with people that think they know what they are talking about, and don’t..

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0

I have lived in Australia and have quite a few friends who have moved over more recently. Australia like for like is more affordable than NZ. 

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5

My neighbours daughter comes home to NZ from Australia regularly to visit her elderly mother. She cannot believe how expensive it is to live here, especially the higher cost of food. And how poorly paid New Zealanders are. Not everyone who goes there makes a go of it. You came back.

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0

I also know a guy who knows a guy's uncle that said.... great anecdote.

Here are 3 sources that say otherwise.

https://livingcost.org/cost/australia/new-zealand

https://www.numbeo.com/cost-of-living/compare_countries_result.jsp?country1=Australia&country2=New+Zealand

https://www.upmove.com.au/post/new-zealand-vs-australia#:~:text=Which%20is%20cheaper%20%2D%20Aus%20or,expensive%20countries%20in%20the%20world.

 

I think what people are referring to is more opportunity, opportunity for much higher wage and thus these "stories" (because that's all it is) of neighbours daughters.

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1

You are right. Much higher wages and salaries so the average Australian copes better than us with the cost of living.

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1

Also higher average temperatures leading to less insulation needed in homes in aggregate and thus lower build cost.

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0

I'm Australian, from Melbourne, I live in Tauranga, I earn less than half what I did in Australia for the same job, and our house here was more expensive than our place in Melbourne (9km from CBD) and it has one less bedroom. Stop telling porky pies.

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2

@ The Man 3. The thing is you can't compare Auckland vs Sydney for lifestyle and house prices.
Auckland is nowhere like Sydney. It should be Auckland vs Adelaide for similar population. Or at a stretch, Auckland vs Brisbane.

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7

Of course you can not compare Auckland with Sydney for lifestyle and I have been saying for ages that Auckland is not a place to live for a good lifestyle.

The thing is that people that live in Auckland believe that it is so good when things have definitely deteriorated over the last decade or so.

I do not see Auckland as the measurement of the prices of houses in NZ as we all know that is not what they crack it up to be.

 

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1

I'll take that back, as I don't think Christchurch is a shithole. 

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3

A massive stretch, people keep thinking our cities are comparative to Australia's, when they are not even close in scale. Brisbane has a population of 2.7m and a GDP (2017 as that was the easily available figure) of 177 billion. Auckland has 1.7m and with a GDP (2017) of 101.4 billion.

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5

I am actively in the market for an Australian house, so I am well aware of housing costs there.  Lets say I sell my Christchurch house for $2m - for about $1.3M I can buy an equivalent home in an equivalent suburb on the Gold Coast (which is the second most expensive property market in Australia after Sydney).  For $2M I could buy a monster mansion directly on the waterfront with a private jetty to moor the boat and a swimming pool.  

As it is, I'll be looking for a $2M 3 bedroom apartment not a house.  The kind of apartments that NZ doesnt even have - waterfront, direct beach access, private marina, three swimming pools, spa/sauna, tennis court, lawns and gardens .... and if they did exist in NZ, they would be a lot more than $2M.  

Melbourne is still pretty cheap, and getting cheaper by the minute.  Here's one in Melbourne 9km from the CBD - 3 bed, 2 bath, fully renovated, standalone, under $1M

https://www.realestate.com.au/property-house-vic-maribyrnong-146956776

The idea that Australian houses are more expensive than NZ is a joke.  They are not, and you get a far superior house for your money over there. 

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1

comment of the day so far! While I wouldn't say those types of falls are a given, knowing our policy makers are prepared for that possibility would be great.
How could you fairly handle homeowners and investors seperately?

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1

One of the Aussie parties had an interesting monetary proposal for this. If more welfare must be handed out, they suggested it was important to avoid it simply being more welfare to property. Thus, the proposal was something along these lines:

  • An equal lump sum to every adult, in specific formats / conditions on purpose. E.g. let's say $100k. Created by the usual money printers.
     
  • For property owners, this would be immediately applied to reduce the debt on their property.
     
  • For renters / non-owners, this would be - if I remember correctly - in the form of some government bond or other. Something along these lines.

The details are hazy, I'd have to search it out again, but they essentially trying to avoid the massive welfare wealth transfer that occurred through FLP and similar over COVID (shoveling $10 billion of taxpayer money at property, reducing the value of wages and savings). They were aiming to benefit all not just property owners, and to use the money printing to at the same time reduce the amount of debt and cancel that money back out of circulation...The details in my memory are very sketchy, unfortunately.

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5

Interesting. I like the even-handed approach for property owners and non-property owners.

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1

Yes, and per person not per property. A nice approach.

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2

That would be Steve Keen. A kind of debt relief programme. A QE for the people. Personal debt relief, helps household's, stimulates spending.

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2

What happened to the govt bank deposit insurance scheme? Did National scrap that or is that still coming?

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1

Ban pornography.

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1

I’d say that for a fair few regular commentators on here articles like this is their porn 😂

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5

Barfoots numbers do have a certain money shot feeling about them....

I can see this be coming a series

 

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7

Anyone want to buy my rental liability?

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23

After the GFC an American friend of mine got divorced.  She had to pay her ex husband $45,000 to agree to KEEP the house (with mortgage) and not sell it.  It was so deep in negative equity that any sale would have resulted in both of them ending up bankrupt.

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17

Fantastic news.

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6

Back to the pre-Covid flatline? ... [read that again. use the graphs at the bottom of the article.]

Good.

And thanks to wage increases between 2019 and now ... Just a tad more 'affordable' from pre-covid to boot.

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2

We are all doomed Captain Mainwaring 

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2

As the superbly talented Jenny Morris once sang, "It's only the beginning......."

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1

Reality is that the prices are still well out of kilter for affordability and value for what you are getting in Auckland and has been fir a long time.

Just doesnt make sense to be paying Auckland prices inflated by immigration .

Posters continue to go on about dropping housing prices but far from the truth in the happiest city in Nz, Christchurch.

 

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2

You sound so desperate just like Rookie.

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22

great contribution.

/sarc

ask your grandson what /sarc means.

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2

Ex Agent, quite the opposite, housing investment doing well and providing accommodation to those that require it.

Putting money into Term Deposits is just aiding Banks to lend out to more investors.

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2

Saintly. But for landlords, those houses would simply disappear from existence.

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14

Did you build the houses?

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2

Clearly you don't know that the bank lends money into existence with the approval of the RBNZ. Peoples deposits mean naught but SOME security for any black swan event leading to a bank run.

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5

Nah. Chch follows at a lag (caused by the post-earthquake supply surge). It’ll be down this year.

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8

It will not be for houses in ChCh, prices will rise.

Yes apartments will struggle but people want to live in ChCh and get away from the over populated Auckland and the major issues it now has.

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0

Nah. The economic opportunities in chch don’t compare.

There was just movement in that direction when Auckland prices exploded and chch still had slack because of the new areas out west/post quake exodus. That’s all over.

The agents seem desperate at the open homes there now.

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5

I do not see too many desperate real estate sakes people in ChCh.

It has a big turnover of sales people, always had over the past few decades.

Lets just wait and see what the sales figures are for Christchurch and there are still plenty of experienced established investors.

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0

Time to head to that River..
I miss him!

Up
10

Well, looks we've crashed through yet another floor. Lol. Do any of the 'economists' have even a shred of credibility left now?

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15

Buy the dip?

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1

Or buy the on downward slide.

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7

Yes at the bottom Nifty1.....   I will tell you when I think we are there.

Do a 3month rolling average of a decent data set  (weighted or not, maybe your desired quartile medium or just HPI medium), if its positive for 6 months in a row, its a good sign.   Using technical analysis can help take the emotion out of trading.

Then access current taxation and regulation to determine what the recovery will possibly look like.

Also access if you are better buying in an offshore market.

Property has done well, perhaps its not time to chase the dragon.

 

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15

July 23 to May 24 is known as a "dead cat bounce" in financial market terms.  Meouw.

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14

So many townhouses for sale in my area (Torbay/Long bay)  

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4

It's OK everyone. MSM tells us to survive til 25 and it will all be tikiti boo again.

 

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9

Yield curve only started normalising second half of last year so didn’t really agree with survive till 25. Was more thinking stay alive in 25 (financially). 

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13

Imagine how much worse these stats would be without the ongoing price boom in Riverhead...

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16

RIP wingman

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10

I never saw his wings clipped, but knew he would not last, the rookie lost it with me and the secret censor removed it.... 

The issue with many of the Spruikers is thats all they do, they never have an opinion on other matters on this site, which are equally important to social harmony in NZ.

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10

The "secret censor" removed your comment also, don't forget that part.

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0

That's because I copied in your post and he did not like the swearing.....

You need to respect people who have made millions from property and business and not just dis them as they do not hold the same view as you right now....   or you will not become an AccomplishedInvestor

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10

Respect Me!

I respect people who deserve it, not who demand it.

But you're not wrong, there are a few here with opinions that counter mine... that I do respect.

Just because i dis, does not mean i dismiss.

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4

2013 to 2015 Prices are coming into fashion again..... in late 2025, 2026 and 2027.

Buyers should WAIT.  Buyers offer no more than the 2015 Valuations and Less!

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16

This is good news.

All we need now to make housing truly affordable is to impose CGT only on houses, including the family home. 

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9

Wellington CVs down 24%. It's a massacre today. 

https://www.nzherald.co.nz/nz/wellington-city-property-valuations-plumm…

Up
13

This just gets betterer and betterer

Up
9

Also interesting:

"Commercial property values have decreased on average by 21%."

 

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2

Nobody wants to buy commercial property in Wellington.  Too many work-from-homers and EQ strengthening costs.  Its one of the reasons why Wellington is slowly turning into a ghost city.

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1

Just wait for the flurry of MSM and Facebook comments asking why their rates bill hasn't dropped.  

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4

Average land value down 36.7%

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5

Real estate spruiker's advice to buyers to ignore CV

He advised buyers and sellers to look at comparable homes which had recently sold in the same area to get a better idea of property value

Where is that information found? Homes - paid for by real estate agents for real estate agents. But definitely manipulated by them in any way. /Sarc

Up
6

It will be interesting times times when at re-finance times the equity has reduced to an un-acceptable level. 

And that little surprise that mortgage fraud brings has yet to raise it's ugly and inevitable head.

This will be a year to remember.

Up
7

The rampant Morgage Brokers "sort of fraud".........jacking up the Leveraged punters earnings, 5x boarders, 3x working dogs, the goldfishes Youtube channel earnings, the 3-year-old sons paper run.........  The Fraud going on over the last 5 years will be an eyeopener!

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11

All we need is msd to pick up on the 6 individual accommodation supplements going into one home.

Up
7

I suppose you're referring to investment property portfolios with cross collateralization/equity leverage debt stacking and that paper security has since dried up?

Potential for stories of disgruntled old Landlords just "trying to provide an honest roof" being sent a letter demanding partial repayment or selling a property.  Or investors excitedly selling one property for a profit (with the debt "loaded" against other properties) and the bank initiating their right to set off those gains against the other debts.  

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2

Have seen this happen

 

Up
9

Atm they're sending out "please raise your rent" letters. No joke.

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4

Well within rights to shorten their risk. If banks start tightening the noose on the defaulters, it's all on for ponzi deflation.

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6

Its plunging lower than Bianca Censori's Red Carpet neckline.

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5

Is this why luxon was selling last year?

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11

no no no, he just saw ... other opportunities...

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12

Ole Luxo knows the score with the Housing trade turning sourer, by the day.

Aided by his Housing Minister, breaking the normally tight left/right taboo, of saying "to have the housing prices falling is a wanted and good thing".

My O My, the Spruikers have no friends left......as this risky business burns off the leveraged, like Guido Fawkes on a pile of dry sticks.

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Luxon priorities

  1. Change the law to remove the obligation to pay CGT. 
  2. Immediately sell property that would otherwise have been subject to CGT.

A Trumpesque grift, just like the getting the public to pay for his rent in his own rental and getting his wife to claim the Tesla subsidy.

What a leader.

 

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Leadership....he showed that reducing ponzi exposure was smart. How many didn't take note....not smart.

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(a) since he already owned the properties prior to the change in Brightline rules, he never would have been subject to tax on sale anyway.

(b) why would someone give up a $4 million a year salary to become PM if all he was worried about was saving a few bucks on tax?

Hot tip - rich people are not bothered by trivial things like Brightline taxes or car subsidies.  Sure, if they are available they will take them, but its not a big deal if they dont.   

Its like thinking rich people will come back to NZ in order to claim their pension.  Complete joke. Poor people need to understand the rich are not obsessed over such trivialities. 

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Fun fact - NZ real house prices are now at the lowest they've been since the early 1980s (Priced in Gold, not in NZ dollars). They just fell below the 2011 low of 179 ounces of gold.

In NZ dollars, gold is up 50% in the last year!

Next target is the low which occurred in the 1980s.NZ house prices in gold need to halve to equal that. Will gold double or house prices halve? I think a bit of both.

House prices in gold have always stayed about the same on average for over 100 years. Always remember that it's not prices going up, it's the NZ dollar (and all other currencies) all falling in value.

Strategy idea:  Bitcoin bubble is peaking now, sell bitcoin, buy real gold, wait until NZ house prices dip below 100 ounces of gold then sell half the gold, buy houses.

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And we are off to the races! ( in backwards land )

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Trying to push the comments up to 200, it's been way too quiet from the spruikers.

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The Spruikers and TTP Real Estate, scalping scoundrel crowd,  are huddled in a support group meeting.......strategising the new  "bottoms in"  talking points with Tony Spriukuzander.....

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Down down down in ponzi town...Burn speculand burn.

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I have a feeling that Auckland CVs are going to drop a bit....

 

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Back to 2017 would be a good start. 

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Stunning properties, nothing wrong with these but all passed in today. First one CV 3.4m, opened at 2.6m, no bid. 

https://www.youtube.com/live/QEojsPY9bnU

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"If the leading bid stalls below reserve we will encourage you to raise your bid".

Or the vendor could accept market price.

(To be real, I always encourage people to walk away - both buyer or and seller - if they're not happy with the deal)

 

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"Or the vendor could accept market price."

You'd be brave to auction with a $1 reserve in this market.

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Bidding against yourself is madness, it undermines your ability to negotiate after the auction the best possible price, as it declares you are prepared to pay more then you need to disclose.

 

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"Or the vendor could accept market price."

Vendors have price expectations above reasonable market levels, likely strongly influenced by real estate agent's current market appraisal given to vendors in order to win the listing. Then real estate agents can't find buyers at that valuation.  One way that vendors revisit their price expectations is the absence of offers at the vendor's asking price after a few months.

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Just spray and WALK AWAY!

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I predict a housing death spiral. $360 billion in private debt and rising. A Ponzi scheme in some ways. I am a buyer and I am waiting for a year or two longer before I think about it. Vendors are panicking. They need to be realistic. After the 87 fiasco house prices fell for around 5 years. 

 

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