Glorious 2 bed home...

[jeffbebe 1559]

This beauty is only about 5 doors down from our place... You too could have commuters using your place as a park and ride, p*ssd @ssholes stumbling home from Ponsonby Road most nights, blow off valves from all the tw@ts that race down Richmond Road after midnight every night and sh*te music from Golden Dawn until 3am most weekends for a mere $1.075M plus the other million you'd need to make it habitable. A sensible investment in a growth area.

At least we know we've got a bit of equity.

EDIT: I am aware that this is a first world problem.

Edited October 8, 2014 by jeffbebe

[_ethrty-Andy_ 2122]

Auckland is almost as f**ked as Christchurch lol

[Young Thrash Driver 1020]

Clearly the price is reflective of the neighbors immaculate taste in cars.

Hopefully you can look forward to seeing something more tasteful than an ultra-modern glass and concrete box

[yng_750 247]

If the worst house sold for over 1 mil... How the f did you afford a 850i, or milk and bread for that matter

[richard 384]

the drunk and the pissst car may now be gone but you might end up with a 4-6 story building with 4 units on each level , each listening to their own style of music ,all fighting for a carpark in the street,

And one day you'll wake up and the sun will still be behind the concrete tower block or you'll be out the back having a BBq 3'oclock rolls around and the sun goes down behind the tower of concrete .

$1.07 mil for land plus that again to build 1 house = higher rates.

Still $1.07 mil buys a nice house some where south of the bombay hills with cash to spare .

[jeffbebe 1559]

If the worst house sold for over 1 mil... How the f did you afford a 850i, or milk and bread for that matter

We bought ours nearly 20 years ago for a bit over $150k!!!! If we were buying now we'd be leaving somewhere past Huntly!!

[M5V8 337]

It's nice and dead quiet in my street Jooles. But you would need to buy aforementioned green BMW and poodle.

[westy 614]

$1.1 mil for 381 m2 of land in the centre of a large city? Not so strange when the same way out where in Millwater is $4-$500k.

[jeffbebe 1559]

You're probably right, Tony.

[westy 614]

Not an excuse for the price so much, but rather a reflection of the retards that run this thuper thity.

And not just here http://smh.domain.com.au/real-estate-news/unliveable-millers-point-home-sells-for-171-million-20141008-1134xl.html

[Michael. 2312]

According to property guru... already showing a new property outline... block of 3 units?

That would make sense.

[M5V8 337]

news flash: BMW forum member uncovers real story journo's fail to bother with

Edited October 8, 2014 by M5V8

[westy 614]

Well, there's ya 1.1 mil easy.

PS, how many cities round the world would have suburbs with back yards like that 5k from the CBD?

[jeffbebe 1559]

Jesus... It'll almost back on to your yard... But not quite. We're the house along the top, second from the right.

[lord_jagganath 421]

You can see that none of these areas had any "town planning" with a "city" in mind. Auckland cannot stay a suburb city for any longer.

[gjm 3193]

When we first moved here we looked at having Miss M attend Epsom Girls Grammar School (EGGS, to the locals). To secure a place at EGGS, you need to live in the catchment zone.

So we went house hunting.

An agent came up with something for us. A nicely modernised villa. 3 beds, 1 bathroom, open plan kitchen/dining/living. Easily managed gardens (I think they were his words) and off street parking.

Actually, it was fairly nice. More of a 2.5 bedrooms, no gardens and the front had been concreted to provide the parking. Total land area may have been 400sq m.

This represented a bargain, excellent value, and an amazing, rare opportunity. (Agents words. I clearly recall them 2 years later.)

At $1.24m.

GTFOOH! (I'm sure you can work out what the letters stand for.) I suggested the agent was having a laugh, and questioned how something so small could possibly represent 'good' value at a price so high. He seemed shocked at my comments, and appeared sincere in his belief that this was a 'good buy'.

I'm sure it sold. Not to us, though.

We'll stay out of the city, too.

[M5V8 337]

yup same experience here. Took us a few months to re-calibrate what 'value' was.

[Allanw 1051]

Makes my neighbours place look like a bargain:

1.2M 8 years ago, 55 acres (1/2 ish in covenant Bush) and the house about the size of that section! (I think it's 390m2).Also has a stream with cool wooden bridges, several sheds, and caves all over the place (one had 4 complete Moa skeletons in it!) a large pond, atrium etc, 7 minutes to central Whangarei

I can uderstand why Jooles brought there so long ago, but don't get why someone would want to pay that much now (obviously they'll develop it, but then there will be 3 expensive units to sell to someone who's willing to pay a fortune each). Though clearly I like to be away from the city, but some must love it.

Sell up Jooles! - S62 and 6 speed... sorted!

[gjm 3193]

1.2M 8 years ago, 55 acres (1/2 ish in covenant Bush) and the house about the size of that section! (I think it's 390m2).Also has a stream with cool wooden bridges, several sheds, and caves all over the place (one had 4 complete Moa skeletons in it!) a large pond, atrium etc, 7 minutes to central Whangarei

That's much more like it. Actually, 50 acres of that in convenant bush would suit better - the 5 acres left would be ample for a couple of beef, 2 or 3 sheep, chickens, veggies, and a lawn.

And I could explore my land whenever I felt like it.

[m325i 705]

I crack up at all these 'can't believe prices in AK / Ponsonby' comments you hear.

Prices are like that as there are so many people willing and able to pay it. They see the value. Just because you don't doesn't mean it's wrong - that's the market for that product.

Compared to outer suburbs, Ponsonby etc. has shorter & cheaper commute to city, cheaper taxis, walking distance to entertainment, far better entertainment. There are legit savings to living in central areas. A lot of people that come back from the UK want that pub lifestyle. They are willing to pay for the few areas in AK that offer that. (And are already used to paying $4000+ per month in rent).

Housing inflation IMO is a problem rooted deep in the financial system we have (and post 2008 proved we are unwilling to change). In saying that Auckland is no worse than a lot of other cities. London is f**king mental right now. Sydney is sick also. Both those places have capital gains taxes and stamp duties!

They other issue is building costs - you aren't getting much change out of $400k for a basic house - on a flat, easy access site. So straight away you are in for half a million in shitsville where land is only $100k.

Opinions on value aside - you can't deny history - prices have always gone up and unless you made a mistake or were forced to sell in a 'dip' everyone is 'up'.

My whol adult life there has been haters saying 'crash coming don't buy' - while I agree with some of their logic, if I'd bought as much as I could at ANY point in the past, I'd be rich.

/Registered Valuer

PS - Golden Dawn music is good!

[jeffbebe 1559]

I crack up at all these 'can't believe prices in AK / Ponsonby' comments you hear.

Prices are like that as there are so many people willing and able to pay it. They see the value. Just because you don't doesn't mean it's wrong - that's the market for that product.

Actually, you're quite wrong. People aren't willing to pay it, developers are. Zero capital gains tax will drive prices up and people won't get a look in until the market implodes because the people can't afford the surplus of over-priced, sub-divided sh*tholes everywhere.

That said, the land itself, this close to the city will be valuable. Especially if it's kept intact instead of subdivided.

/Someone who grew up in the UK and has seen it all before under Thatcher

EDIT: My brother lives in Camden and his house dipped GBP250K last year. London isn't mental like Sydney and Auckland where overseas developers and investors are killing the housing market.

Edited October 9, 2014 by jeffbebe

[richard 384]

the only dip in the AK market will be in summer when we go to the beach for a swim,

supply and demand rule, if more land was available prices would not rocket up, AK is shaped like an hour glass with harbours ether side , we ether go up or out .

we'd have to build 50000 homes in one year to keep prices stable in AK, which i kind of find funny as there is barely enough tradesmen to cope with whats going on now.

[jeffbebe 1559]

Because all of those people needing homes in Auckland can buy $1M+ houses so the market will just grow and grow indefinitely.... Hmmnn.

This'll throw the cat amongst the pigeons.... Was chatting to my neighbour earlier and apparently the two houses with shorter sections that back onto the site on Leighton may contest the land ownership as their original titles show their section is the same size as ours and our neighbour's - hence why the council allowed the houses to be so big (you can't normally fill 80%+ of your section with house.

Could be interesting if they contest the land sale.

[richard 384]

for as long as i've been working i've had people tell me, buy a house best investment you'll eva make they said , can't loose they said.

not all houses in AK are $1m , you can buy a house for under 400k. A lady at work pays $700 a week in rent because she needs to be in the IT place, close to the coffee shops ,wine bars,but not work.

The next time your at the beach , try building a sand castle out of wet sand then dry sand , wet sand will get you higher with a smaller base and dry sand to get the same level of height you need a bigger base .

base = land supply

height = price

wet sand = restrictive RMA

Edited October 9, 2014 by rich

[m325i 705]

EDIT: My brother lives in Camden and his house dipped GBP250K last year. London isn't mental like Sydney and Auckland where overseas developers and investors are killing the housing market.

During the last year, sold prices in Camden were 8% up on the previous year and 24% up on 2010 when the average house price was £734,149.

Zoopla says 13.7% yoy

http://www.theguardian.com/money/2014/jul/02/leap-london-house-prices-unequalled-nationwide

Edited October 9, 2014 by Nick G