Latest auction results: Eves auction rooms busy in Tauranga, Bayleys sells a couple for $3m+ in Auckland

Latest auction results: Eves auction rooms busy in Tauranga, Bayleys sells a couple for $3m+ in Auckland
This three bedroom house in Mt Maunganui sold for $639,000.

Bayleys Real Estate had 32 residential properties scheduled for auction in the upper North Island this week and achieved sales on 18 of them, giving an overall sales rate of 56%.

At the Auckland auctions eight of the 13 properties were sold, with prices ranging from $870,000 for a three bedroom apartment in Albany, to more than $3 million for a couple of properties in Ponsonby and Remuera.

At Bayleys' Hamilton auction a mix of six rural and urban properties were offered although a sale was achieved on just one, a three bedroom house at Leamington.

At the Rotorua auction two of the six properties were sold and in Tauranga sales were achieved on three of the five properties offered.

Also in Tauranga, Eves Real Estate had 22 properties for auction and achieved sales on seven of them, with prices ranging from $440,000 to $1.255,000.

Details and photos of all the properties offered and the prices of those that sold are available on our Residential Auction Results page.

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Notably, auction clearance rates for Auckland have been rising over the last few weeks.

Eight out of thirteen sales for Auckland (as reported in this news item) gives a clearance rate of 61.5%.

Further, it is not just cheapies for first home buyers that sold. A couple of properties (Ponsonby and Remuera) sold for north of $3,000,000.

TTP

Didn't you read today's article about foreign buyers snapping up properties before the ban...

38 St Vincents ave Remuera, 2017 CV $3.6m, sold 28 June, $3,15m, thats -12%. Like Sydney, some sellers are becoming more realisting on the way down. If any properties are selling either on or north of 2017 CV, they have to be something rare and exceptional.

TTP, in your opinion, do you think FHB's should commit now or wait and save? Please, spare us the weasel words, just a yes/no with some black and white supporting facts will suffice.

Some of the local sales in the last month or two. Mostly over CV but some below. Enjoy the stats everyone and please be nice to each other ^^
11 Arney Road – Sold $15,000,000 CV $11,000,000 (+36%)
https://www.bayleys.co.nz/1751545
73A Victoria Avenue – Sold $7,130,000 CV $7,200,000 (-1%)
https://www.uprealestate.co.nz/UPR14483
40 Orakei Road – Sold $5,400,000 CV $4,500,000 (+20%)
https://nz.raywhite.com/auckland-city/remuera/1881627/
15 Ridings Road – Sold $5,475,000 CV $4,150,000 (+32%)
https://www.uprealestate.co.nz/UPR14497
35 Maui Grove – Sold $4,418,000 CV $3,900,000 (+13%)
https://www.bayleys.co.nz/1751505
14C Ventnor Road – Sold $4,200,000 CV $2,700,000 (+56%)
http://www.remuerarealestateregister.co.nz/catalog/product/1214
20A Dilworth Avenue – Sold $4,168,000 CV $3,800,000 (+10%)
https://www.barfoot.co.nz/756160
23 Ridings Road – Sold $4,150,000 CV $3,025,000 (+37%)
http://www.remuerarealestateregister.co.nz/catalog/product/1220
82 Arney Road – Sold $4,000,000 CV $3,450,000 (+16%)
https://homes.co.nz/app/address/auckland/remuera/82-arney-road/XoWjJ
145 Shore Road – Sold $3,880,000 CV $4,150,000 (-7%)
https://drawphotography.co.nz/tour/11299151
278 Victoria Avenue – Sold $3,800,000 CV $3,800,000 (+0%)
https://www.barfoot.co.nz/754316
27 Orakei Road – Sold $3,600,000 CV $3,550,000 (+1%)
https://www.oneroof.co.nz/27-orakei-road-auckland-1060961
50 Bell Road – Sold $3,270,000 CV $2,950,000 (+11%)
https://www.barfoot.co.nz/755361
26 Warrington Road – Sold $3,270,000 CV $1,600,000 (+100%)
http://rwepsom.co.nz/properties/sold-residential/auckland-city/remuera-1...
38 St Vincent Avenue – Sold $3,150,000 CV $3,600,000 (-12%)
https://www.bayleys.co.nz/1751517
16 Warrington Road – Sold $3,095,000 CV $3,000,000 (+3%)
https://rwremuera.co.nz/auckland/remuera/16-warrington-road-16040160/
40A Combes Road – Sold $3,020,000 CV $3,000,000 (+1%)
https://www.barfoot.co.nz/600258
17 Belmont Terrace – Sold $2,950,000 CV $2,350,000 (+26%)
https://rwremuera.co.nz/auckland/remuera/17-belmont-terrace-18213252/
113 Orakei Road – Sold $2,915,000 CV $2,925,000 (-0%)
https://nz.raywhite.com/auckland-city/remuera/1854700/
11 Lochiel Road – Sold $2,850,000 CV $3,075,000 (-7%)
https://nz.raywhite.com/auckland-city/remuera/1881583/
17 Spencer Street – Sold $2,665,000 CV $2,050,000 (+30%)
https://rwremuera.co.nz/auckland/remuera/17-spencer-street-10689097/
38A Mahoe Avenue – Sold $2,420,000 CV $2,525,000 (-4%)
http://rwepsom.co.nz/properties/sold-residential/auckland-city/remuera-1...
29 Corinth Street – Sold $2,306,000 CV $1,875,000 (+23%)
http://rwepsom.co.nz/properties/sold-residential/auckland-city/remuera-1...
10 Standen Avenue – Sold $2,186,000 CV $2,375,000 (-8%)
https://rwremuera.co.nz/auckland/remuera/10-standen-avenue-18915950/
35A Upland Road – Sold $2,150,000 CV $2,825,000 (-24%)
https://www.barfoot.co.nz/756189
1/261 Remuera Road – Sold $2,100,000 CV $1,700,000 (+24%)
https://rwremuera.co.nz/auckland/remuera/1261-remuera-road-18894796/
11 Middleton Road – Sold $1,950,000 CV $1,800,000 (+8%)
https://www.uprealestate.co.nz/UPR14395
105 Bell Road – Sold v$1,950,000 CV $2,225,000 (-12%)
https://www.barfoot.co.nz/751794
9 Shore Road – Sold $1,925,000 CV $2,000,000 (-4%)
https://www.barfoot.co.nz/754560
60 Portland Road – Sold $1,875,500 CV $2,275,000 (-18%)
https://www.barfoot.co.nz/755868
64 Spencer Street – Sold $1,670,000 CV $1,850,000 (-10%)
https://www.barfoot.co.nz/752284
5/23 Waiatarua Road – Sold $1,660,000 CV $1,450,000 (+14%)
https://www.barfoot.co.nz/751465
85 Lucerne Road – Sold $1,640,000 CV $1,475,000 (+11%)
https://rwremuera.co.nz/auckland/remuera/85-lucerne-road-9058192/
3/259 Victoria Avenue – Sold $1,605,000 CV $1,380,000 (+16%)
https://rwremuera.co.nz/auckland/remuera/3259-victoria-avenue-11038174/
17 Rotomahana Terrace – Sold $1,600,000 CV $1,575,000 (+2%)
https://www.barfoot.co.nz/754062
30B Winhall Rise – Sold $1,508,000 CV $1,525,000 (-1%)
https://www.barfoot.co.nz/753277
81 Clonbern Road – Sold $1,503,000 CV $1,750,000 (-14%)
http://rwmissionbay.co.nz/properties/sold-residential/auckland-city/remu...
1 Mainston Road – Sold $1,350,000 CV $1,180,000 (+14%)
https://www.barfoot.co.nz/584556
3B/524 Remuera Road – Sold $1,350,000 CV $1,160,000 (+16%)
https://nz.raywhite.com/auckland-city/remuera/1878611/
1 Raukura Lane – Sold $1,325,000 CV $1,340,000 (-1%)
https://www.bayleys.co.nz/1751404

I'm not prepared to go any further down beyond this level.

Make merry while the foreign buyers are on a feeding frenzy
https://i.stuff.co.nz/business/property/105097221/buyers-surge-into-the-...

Thanks very much DGZ, for that large volume of timely information.

Clearly, plenty of Auckland properties are selling above CV.

Retired-Poppy writes (above) that to sell above CV a property has to be "something rare and exceptional".

That remark does NOT stand up to scrutiny.

TTP

TTP, why won't you answer my question? Its because you know full well it could soon tank - thats why. It would seem it's YOU that fails scrutiny as this sites self proclaimed property oracle.

After it all drops you will next say "given the recent gains up to 2016, small percentage declines of 10% or more is to be expected and nothing to cry over. I always said that prices would oscillate within a small band"

Much like what you said in Feb 2017.

I have checked out the availability of wards for those with depression and they have reserved a few wards for the property spruikers once kiwibuild and the foreign buyer ban is in full swing

Hi H-O,

Clinical depression is a serious illness - with tragic consequences for some sufferers, their families and friends.

I loathe people like you who are willing to use depression as a stratagem for mocking others.

Mental health is a serious issue in this country - and most other countries.

Please have a think about what you've written - and consider making an apology.

TTP

TTP, It's a little precious for you to claim moral high ground now. I genuinely doubt you would find anyone here that genuinely mocks depression sufferers. Creating a shallow distraction/sideshow to avoid my simple question above, doesn't cut it. In recent times both you and I threw some pretty ugly insults at each other too. I've since moved on and on reflection admit freely it achieves nothing.

Sorry R-P,

But I've got no time for people who mock and ridicule in areas such as mental health, racism and disability.

There need to be boundaries. (And it's no "shallow distraction/sideshow" as far as I'm concerned.)

TTP

You have just proved that you are suffering from it, as I referred to a certain group on this site and at no point did I refer adversely to the illnesses itself

You're absolutely right ttp, it's a Very serious illness.. and I seriously think you suffer from it..

I do feel for you..

TTP, your virtue signalling isn’t a good look. Acting indignant and holier than thou for no good reason is a bit cringey.

Haha seriously you think Kiwibuild will solve crises. What about three 30k foreign workers who will move here with their families to build this. Where we putting them. The CoL idiots will just make it worse. The Nats were useless in this space and I don't expect any better from this mob.

Ray White report for the Bays in May 2018 = Sales up 39% and average sale was 101% of 2017 CV.

Rex Pat, yes and realestate.co.nz said that in the next twelve months they expect that with the current glut of buyers, Auckland faces a "serious" shortage of sellers. Such words are easily said when Auckland's already declared as being deep in a buyers market from several reputable quarters - ha-ha :)

https://www.realestate.co.nz/blog/news/nz-property-report-may-2018

Oh and remember there are many foreign based buyers scooping up properties sight unseen in Hamilton too. Only in Hamilton and through Lodge Reality who are just run off their feet!

Seriously now, all this BS hype is nothing short of a travesty conjured up IN QUIETER TIMES!

RP, you’ll have noted over the year or so you’ve been on this site that I mostly post property sales data (when I’m not bagging the COL). I’m not a buyer or a seller. I have no agenda except to provide a counterpoint to the endless misinformation put forward by those that want their apocalyptic views respected. We’ve had any number of factors put forward that were supposed to knock the property owners off their undeserved pedastal and yet the market chugs along. Your view may yet be correct, but the jury is out a year after you joined.

Rex Pat, ok fair enough :)

Have you had a change of heart, just last week you were bagging the col

While I live and breathe implacable opposition to the current Government I think the term COL is close to its use-by date. I’m moving on to COCM (Coalition of Cultural Marxists). The article by Karl du Fresne nailed it.

Hamilton?! Hamilton you say. I'm not sure about the hype that foreign buyers are active, Brian King from Harcourts says that he hasn't noticed any change. However it's not a buyers' market here, the facts are that sales numbers are lifting month by month and there are fewer houses for sale so there is now less choice for an increasing number of buyers. Doesn't sound like a falling market or one about to drop into a precipice to me. This situation is not limited to just Hamilton. I reckon serious fhb will see what's happening and take note

Hahaha DGZ, well done and thanks for your time spent. No doubt in light of such evidence RP & HO will now admit that you and TTP were right

Yvil, right about what exactly? Look at the bigger picture. Auckland is bigger than just DGZ. Houses with wow-factor sell for more, those without sell for less? There's many vendors not accepting Auckland's now in a buyers market territory. They risk being left surrounded with lowball offers further down the line. This is whats unfolding in Sydney too.

Thanks DGZ, that's great information. You're a legend. Why do these guys keep saying foreign buyers. Do they not want to accept that we have lots of local people buying over $3m dollar properties. Anything half decent in double grammar zone starts minimum at $2m. Having been to lots of auctions in the last 6 months, it was all locals buying, mostly no phone bidders.

if You wondered why NZ remains at low productivity just take a peep at DubleZz
copy& paste
Worse still Chessmaster actually congratulated him !
Stay in Kiwiland boys where you belong
Florida is beautiful right now gotta go to Panama beach for dins

All good brother. I'm not sure why you even commenting on an NZ site. Miss home? Or you just feeling sorry for us. Life is really good in NZ. Kids are growing up safe and in a reasonably friendly society. Weather is mild and I don't have to worry about my kids getting shot in school. We have very small problems on global scale. You'll understand when you have a family bro. All the best

Good comments, Chessmaster.

I can add to that that there are good quality, affordable houses here too - in provincial cities/towns like Palmerston North.

TTP

I think you have to remember that CV is a pretty basic valuation based almost entirely off land area and building area. The condition of the house is almost completely ignored. 12% either way for a single property is meaningless, it may just be indicative of the condition of the property.

Hi H-O,

Greg's article today (30th June) doesn't mention where the buyers came from.

But it does indicate that there is some confidence in the Auckland housing market........ Who would pay $3,000,000 + for a property without feeling confident?

The actual evidence contrasts with a number of people here who have been telling stories that the Auckland market is dead - with "zero demand" for houses etc etc etc.

TTP

Hi R-P,

You make clear that you suffer from "property envy".

The best cure for you is to cash in your bank term deposits and go buy a property. (I suggest that the Chatham Islands would be an ideal locality for you - well away from the rest of us.)

TTP

TTP, such comments only serve to further deepen your disrepute.

Hi tothepoint,

Did you get out of the wrong side of the bed this morning?
What's wrong? Tell me all about it.

MTP

Hi MTP,

Suggest you stick to the topic of the thread - that is, higher auction clearance rates.

Distraction/diversion tactics don't fool anyone.

TTP

HO lol! Note that is only Agent O'Shea in Hamilton thats reporting such activity. It makes little sense to buy up ahead of a time when the ban makes it cheaper. And why Hamilton? More agent BS, different day!

It's a false negative before the positives happen :)

It sure is a strange day when you are commenting Hamilton, that's twice already, seems the halo is still intact

Houseworks, Hamilton is located 1-1/2 hrs pie/coke joyride south. Now it's three times mentioned. Nothing strange about it - lol!

Hi tothepoint,

Pot, Kettle, Black.

MTP

10
up

Not unexpected with ban imminent. Time will tell wether the bulls or bears were right and as they say...patience is a virtue. The trick is to have a quid both ways I guess (multiple properties with low/nil debt position)

Im still in the bear camp as there have been a lot of artifical drivers in NZ in the last 10 year, mainly cheap credit itrespective of wether it was wielded by domestic or foreign hands.

The voice of sanity, thank you Averageman.

Note that TradeMe listings for Auckland have now dropped back quite a bit.

As at 2.50pm today (30 June) there were just 11346 Auckland listings.

TTP

Yes – I’ve been following it and noted it’s decline – I guess that’s the easy bit.
But what does that decline mean – what is it or the market telling us.
I struggle to believe it’s because higher prices are but months away – I really do.
Rental listings aren’t taking off any more – so withheld properties aren’t going there?
Seriously TTP, go for it– what do you think these numbers are now telling us – it’s got me somewhat beat.

As the 'so called' foreign buyer ban won't include Australian Residents/Citizens who, according to most recent data from Statistics NZ, are the second biggest group of buyers after the Chinese ( buying about a third of all properties sold to overseas buyers in the first quarter 2018), I wouldn't hold your breath for that much reduction in sales after enactment. An Australasian population of around 30 million provides plenty enough investors to keep the investor market going strong. We are not talking big of sales to buyers from other countries. The latest utterances from Minister Parker about the effect of this much delayed and changed draft legislation on this is matter seem to me to be largely ' spin '.

Righto, I see you don't have the patience to wait, but project your baseless view

Stuart Mason, why would Australians be keen buying overpriced NZ real estate while theirs gets cheaper by the day? Australia's banks now have to own the fallout of the AU$500b of liar loans. Its very much early days how the fallout will affect the lending behavior of NZ banks with Australian owners. This is just one of many "bogeys" on the horizon.

Exactly, the current system encourages speculation, while the ban will reduce that appetite..

Unfortunately you've got all the speculators out trying to keep the momentum up...

Because buying in NZ has no stamp duty, holding costs such as land taxes that they pinged for in their own country. Aussies love investing in property and the yields here are still much higher than Melbourne and Sydney.

I wouldn't call something a foreign buyer ban if a significant number of foreign players in the market are not excluded. See Statistics NZ data. As to what happens in the future, as you say, time will tell.

"You wouldn't call it "

Is anyone really worried what you intend calling it..

Why do you think you buddy mr key fought so hard for an exemption

Hi H-O,

I'd call it a Clayton's Foreign Buyer Ban - "the ban you have when you're not having a ban".

The Labour Government's ban has so many holes in it, you could drive a freight train through it.

TTP

Yeah yeah keep going.. hence you'll are jumping like jack arses

Jackasses, a jackass is a male donkey used as a derogatory term, it cannot be converted to arse because Americans call and arse an ass. It really bugs me that, and I even hear radio announcers doing it.

I get that way about colour and color. It does not change the current meaning and often it is the usage which defines it, not the history. E.g. gay, ejaculation, etc, significantly changed from the past historic use. Slang & jargon are other areas where not only are spellings significantly changed but there is a lot of new word creation. Once it has moved across enough people & been accepted to hold a certain meaning all that rests is the definition to be recognised formally and formal recognition in this day and age moves a lot faster. You might as well be arguing with the clouds, (which in fact you literally would be online).

Interesting comments guys, interest.co.nz commentators are the best. It will be interesting to see what prices do coming into spring .. or 'fall', as the case may be.

I notice Cameron Bagrie, former chief economist at ANZ, quoted on Stuff today: "The property market in Auckland is weaker than the official statistics show – anecdotally in some suburbs you hear stories of prices down 5 to 10 per cent."

Hahahahaha... you have spoilt the evening for many....

Mean graham mean ;)

There's no antidote for the effects of such anecdotes (truth) - lol!

Hi Graham Adams,

The most respected economists don't stoop to anecdote.......

Their domain is analysis - good, rigorous analysis.

TTP

Hi TTP,

Another 31 days and we will know if July 18 median in Auckland ( which is the leading indicator) was higher or lower from the bottom in July last year.

At that point we will know where the trend is going and how steep the changes would possibly be either way in the next 6-12 months.

Usually, the market starts rising from July to Oct/Nov almost every year, so we shall see

Getting nervous are you. .

Police is on patrol.

Eco Bird, I suggest you two part company as you've got a fundamentally flawed marriage going on here. Ten years of cheap and easily got credit now behind us and you dream that any downside is only 6-12 months in duration! If only July was as significant enough an indicator to predict the medium/longer term direction of this fundamentally cooked market! Even TTP has previously suggested a -10% or more correction is to be expected given the recent runup in prices. Back to the drawing board for you and your many "business partners"

If prices are lower this July than last July does that mean prices will keep falling?

Forgive me for asking how your model works, but most models like this one only go up, so I feel the need to ask.

There is no model ... we are not in a math class ... and I really do not run training courses .. Nor I am here to prove a view point to a stranger at the other end of the Bar in a tavern.... you can conclude whatever you like.

The results will be an indicator of where the market will probably be heading in the near future and at what speed according to MY understanding and My own risk profile .. and everyone is different.

These are observations, not absolute science, by which I personally make / base business decisions on ( among other facts and factors).
So, it is my reading of the tea leaves with my market experience ... and accordingly , I put MY money where my mouth is, Not yours or any one else's !!
so don't really care if you or others dismiss it or rubbish it to feel good... :)

You're free to disagree and not to read my posts and entitled to your own perceptions of course ...
done.

Eco Bird I like reading your posts and the way you structure your sentences...I mean it ;-)

Although my comment might have seemed like I was having a crack, I wasn't intending to. It comes from seeing commentators who constantly acknowledge market upside risk but never acknowledge other possible outcomes - and of course there are others who do the opposite.

No one knows the future.

One thing though - this is a public forum - so anytime any of us comment we're talking to a whole bunch of strangers at the bar. But hey who knows, maybe interest.co.nz will have a pub meet up night one day :D

Hi TTP - This below followed your earlier observation - I'd really be interested in what you think.
There's no agenda, no pass or fail - what do you think the number means?

Yes – I’ve been following it and noted it’s decline – I guess that’s the easy bit.
But what does that decline mean – what is it or the market telling us.
I struggle to believe it’s because higher prices are but months away – I really do.
Rental listings aren’t taking off any more – so withheld properties aren’t going there?
Seriously TTP, go for it– what do you think these numbers are now telling us – it’s got me somewhat beat.

If I observe one auction, is that an anecdote or a data point? What about 5 auctions? 50? 100? 1000?

You don't know how many observations have gone into Cameron Bagrie forming that view, but of course you attack the man instead of the ball.

Very true!

You hit the nail on his head. Lol

He's going to be more deranged now

OK TTP – perhaps it’s all too hard.

I’ll take a punt – is it because sellers are hiding under a rock of sorts – are they buying into rumours and vague premonitions of a weakened market – and await a redeeming spring selling bonanza.

But that makes no sense to me whatsoever – in my mind the underlying pillars of this somewhat bubblicious market are under various levels of strain – an avalanche of listings in spring is not going to be pretty.

And I would think a lot of potential sellers would be savvy enough to understand that.

So what gives with this mad Mexican standoff – if that’s in fact what it is?

I know anecdotes aren't popular around here, but I know of multiple properties that failed to sell (or at least achieve the early 2017 bubble price the vendor anticipated) and were withdrawn from the market. This is the "waiting for the market to pick up" group. The underlying need to sell was still there (i.e. owner occupier moving, boomers planning to move to Tauranga, etc).

It's normal to see listings low in winter and I suspect there will be a decent bounce in Spring. If sentiment changes in the "waiting for the market to pick up" group and lots of them list, it could on like Donkey Kong. Hard to know if that will happen.

I would think anecdotes are fine – in fact they should be encouraged – this isn’t a court of law.

It’s a forum – a collective of opinions – absurd, brilliant or otherwise.

No one knows the future – we’re just throwing stuff up in the air – some better than others, but once again – that’s just opinion.

And for what it’s worth – I tend to agree with your sentiments regarding the market and things Spring time.

Anecdotal information can be very useful.
Official data is often unsophisticated and is often presented in the aggregate which can create all sorts of false impressions.

Hmmm this is not the 1st auction clearance rate around 50% lately, not great but certainly better than the 30% of 6 months ago

Nothing to fuss about!

Next week we will see clearance rates back in the 30s and this whole thread will have meant ziltch

To quote TTP :

"The most respected economists don't stoop to anecdote.......
Their domain is analysis - good, rigorous analysis."

Never heard back from him - so some food for thought in the meantime - economics can actually be considered a behavioural science - try putting that under "good, rigorous analysis".

Trolls only stir up a conversation and leave

Hi custard,

Economics is a social science.

There's plenty of good, rigorous analysis that goes on in the social sciences (including the behavioural sciences).

Only a fool - and a very naive one at that - would argue otherwise.

Have you ever tried getting an economics (or psychology) paper published in a scholarly (peer-reviewed) journal? If the analysis is not rigorous/scientific you don't stand a chance.

TTP

Are you confusing yourself between economics and an economist who stated a point about observed house prices. . Because he is absolutely right about what's happening on the ground vs the stats being reported on. . Exactly similar to asb's article about foreign buyer ban having a much bigger impact than other commentators / national government views

Hi TTP – Excellent!

Economics could be considered both a behavioural and social science.

Forgive me – my comment was a little tongue in cheek.

My point is that economics to some, possibly many, is that it’s only some sort of dry as toast exercise with a lot of graphs, acronyms and bewildering numbers.

I found economics fascinating, and as a finale, throw this out –“economics is fundamentally the study of human behaviour”.

You may well disagree.

Interesting.

"More than one million home owners with property valued upwards of $1 trillion are planning to downsize over the next five years as retiring Baby Boomers opt for more cash.
The flood of properties in a falling property market is likely to add to growing over-supply as demand begins to slow, rates rise and borrowing conditions tighten. Most are expected to be sold over the next three years.
There are lessons to be learned from many downsizers who face nightmarish financial and regulatory headaches as they attempt to sub-divide and others who are finding it tougher to sell their family homes at the price they expected.
"There is a growing air of panic," says Martin North, principal of Digital Finance Analytics, an independent financial analyst, who estimates more than 1.2 million properties are being readied for sale."

https://www.afr.com/brand/special_reports/private_banking/winners-and-lo...

My Goodness, why are we worried about what the aussie boomers are doing ? and why should we worry about Australia at large?

One million boomers among 30 M people, some are or will soon be well paid upper class themselves ...

We have some similarities but we are not identical, we are lucky enough not to have most of their problems here - so picking anecdotal examples does not help and does not mean that we will have the same here.

Our boomers are selling the $1M+ properties like hot cake and these are purchased by our new middle class who are people with good jobs, high wages, or doing well in business.

We can see that in the boom of the retirement village business lead by
Raymen, Summerset, Metlifecare, and others who hosts the majority of these boomers at all levels when they downsize...

Why do we have to shiver everytime we hear about a problem elsewhere, I wonder ?

My Goodness very well said Eco Bird. It's hard not to notice the boom of the retirement village...this one is near completion. https://vervemagazine.co.nz/introducing-rawhiti-estate/

Herald Homes and OneRoof apologise for insensitive articles.

  • Herald Homes, the New Zealand Herald's property listing supplement, published on Saturday two editorial features that failed to live up to the paper's values and the values of our readers. The two articles profiled two separate homes that had been listed for sale and included statistics on the ethnic make-up of the neighbourhoods in which they are located. The decision to publish the statistics - sourced from data on the Herald's property listing platform OneRoof.co.nz - was tone deaf and insensitive. The Herald and OneRoof apologise for the offence that this has caused.
  • https://www.nzherald.co.nz/property/news/article.cfm?c_id=8&objectid=120...

    Wow, imagine if they have to start apologising for all the insensitive articles, there wouldn't be space for any other content

    HO my friend, apparently the ad was for Lot 11 Moturoa Island, Kerikeri. Herald Homes had "One Fact" that says "71% of people in Kerikeri are European"

    https://www.bayleys.co.nz/1685328

    A fact which funnily enough is not representative of the working, renting & visiting local population. It is a fact in the sense it states nothing proven and could be less useful than a tree survey (because at least the trees don't move between neighbouring areas).

    A more important statistic would be household income and net worth of local residents. Also the ethnic makeup of the remaining 29%. For example if that 29% were almost all Congolese it would have a dramatically different personality to 29% Japanese. Am I wrong? You would notice it immediately upon arrival. People are different and have different ways of doing things, different tastes etc.

    Strangely 71% European is pretty much the average for NZ so it is hardly controversial. It reveals the location to be typically NZ which some buyers may be looking for.

    I would bet that it was European women that complained about this published statistic. Minority folk probably didn't bat an eyelid and found the information useful.

    Every Wikipedia page about a country or state has ethnic statistics.

    I thought diversity was our strength so surely we are allowed to quantify it.

    Well said. European women are very good at being offended on behalf of other people who aren’t actually offended themselves. Busy bodies.

    Insensitivity is the least of the Herald's worries. It's become a second rate newspaper over the last 20 years, Simon Wilson is about the only writer there who writes with any degree of nuance and depth.
    It's borderline tabloid now, filled with rantings from the dumb right (Hosking) and the slightly less dumb right (Roughan). Dross

    This is hilarious.
    The Herald, Hosking, Newstalk ZB mob love deriding Labour's so called xenophobia, but the exposure I have unfortunately occasionally had to these parties over the years is that they display some thinly veiled bigotry. I find it really ironic when they take the high moral ground around xenophobia.

    Just as well their readers don't look at hougarden or tigerz (where local ethnicity distribution matters to property purchases a lot more).

    This listing had Executive Peace of Mind in DGZ - do you think it is a form of insensitivity to the interest.co.nz readers? https://www.bayleys.co.nz/1751519

    Note - it was sold in June 2018 for $3,100,000 just a tad over the CV of $3,075,000.

    Hi DGZ,

    Thanks again for the very worthwhile and timely information you provide to readers.

    Best wishes for the week ahead.

    TTP

    Thank you TTP. You enjoy the rest of your weekend too. Remember to vote for Team Chris in tonight's DWTS. I am keeping an eye on this auction next Wed. Will report back as soon as I can ok. Cheers.
    https://rwremuera.co.nz/auckland/remuera/9a-komaru-street-19168707/

    You might as well hold hands on the beach and have this conversation

    Which beach would you recommend HO?

    Lol. I thought you would know them like the back of your hand

    Okahu Bay would just about be the closest. Fine for a romantic stroll but swim at your peril.

    Okahu Bay – most lovely - and a place where romance could indeed blossom.

    But just forget it at low tide.

    The closest beach for me is actually Wilson's Beach at the end of Vicky Ave, and I have no issues with helicopter flying over us from 6am - 9pm lol ^^

    Absolutely superb thread – with some great lists and information on what’s happened.

    However taking a stance on what’s going to happen and why is vastly more interesting and challenging I would have thought.

    There you go custard:

    I will stick out my neck further from my prediction of around 3 months ago and say:
    - Emerging markets will collapse in early 2019
    - The US will start a recession in Q3 of 2019
    - NZ's GDP growth will near 0% from Q3 2019 (which is catastrophic for the government as it means no money to fund its many ambitious projects)
    - I have one more prediction for NZ in 2019 which I will keep to myself for my own business interests.

    No real arguments there – I would think all are certainly within the realms of possibility.

    The emerging markets space is interesting – a few seem to be well on their way to some form of collapse already.