[Lupin]

From the NZ Herald

And a new international housing affordability survey describes Auckland, Wellington and Christchurch as "severely unaffordable". Of 157 international locations, Auckland ranks 21st least affordable city in which to buy a home, with its median price almost seven times the median household income.

http://www.nzherald.co.nz/section/1/story.cfm?c_id=1&objectid=10447536

[swissmissdesigner]

I think the property prices are out of control in NZ and quality is not equalant to the price.

[speckythecky]

Spent last weekend looking at house prices onthe ecb and couldn't believe how much thay had gone up since Christmas. obviously the interest rate increase hasn't had the desired effect, (yet again) so stop hitting the poor mortgage holders and do something else to stop the house price inflation (and stop blaming us brits and SAs for inflating the market.

(sorry for the rant)

[zardell]

I think the property prices are out of control in NZ and quality is not equalant to the price.


:clap :clap :clap

Julie

xx

[hball]

There was an article in one of the Sunday papers re house prices, highlighting how the Brits were coming in with enough money to buy property and so maintain the current pricing level. Photos etc of a lady recently arrived with her daughter now living (mortgage free) on Waiheke Island having sold her apartment in London! Ain't NZ grand!:laugh

While I accept that house prices here are higher than ever I don't believe prices will fall - they may even out (as they have historically at times) but then they will rise again due to supply and demand as we just do not have enough residential accommodation in the cities to cater for those wanting to live there. And as for the quality - well, obviously it doesn't matter that much to the market as properties still sell - or perhaps those buying are renovators who will make improvements and then flick the house off again for a decent profit?

[dharder]

I think the property prices are out of control in NZ and quality is not equalant to the price.

But do price and quality ever correlate? I mean, do you ever pay for something what it is really worth, and do you necessarily get better quality if you pay more in other areas (am thinking of branded clothing, for example)

This seems a simple supply/demand issue, and frankly, if people are prepared to pay, prices are going to be this high. I don't quite understand why people think a house for example 'isn't worth the asking price'. If someone pays that price, then it obviously is.

Not that I in any shape or form think exorbitant house prices are a good thing, and I really, really wish they'd come down, but I can't really get very excited about it. If I did, I'd have to start complaining about many other things that aren't really worth their price tags.

Daniela

[Island Moose]

The only reason I'm not losing my mind over Auckland housing is that I'm living in Victoria, and the alternative would be to move to Vancouver... :)

[swissmissdesigner]

[QUOTE=dharder;137935]But do price and quality ever correlate? I mean, do you ever pay for something what it is really worth, and do you necessarily get better quality if you pay more in other areas (am thinking of branded clothing, for example)


Everything is relative!
However I don't buy anything that is overpriced and not worth it!
I am used to getting the best deal especially when it comes to my investments.
I could not compare clothing labels to property prices, sorry.

cheers:

Anna