Talk about insane Auckland property prices!

[euroriffic 602]

Man Im glad I live in Dunedin! Me and the missus brought our first home September last year for 260k in a nice sunny area and it's a 3 bedroom, with good size garage and workshop, offstreet parking, good backyard, house is pretty tidy, new carpet/paint etc and from what I've seen in the Auckland market I'd say Itl be the equivalent of a 600-800k place in same sort of area. If I was in Auckland I'd still be driving a piece of sh*t car and living with my olds!

[Ahmedsinc 414]

Man Im glad I live in Dunedin! Me and the missus brought our first home September last year for 260k in a nice sunny area and it's a 3 bedroom, with good size garage and workshop, offstreet parking, good backyard, house is pretty tidy, new carpet/paint etc and from what I've seen in the Auckland market I'd say Itl be the equivalent of a 600-800k place in same sort of area. If I was in Auckland I'd still be driving a piece of sh*t car and living with my olds!

We've thought about moving out of Auckland again but having started a family we can't really go anymore. Plus I suspect the difference in earning power between this side of the Bombays and the rest of NZ has a small part to play in the matter..... not that it explains why the 'median' price is getting frighteningly close to $1m. Our current rental is about the 70sqm mark including the single garage and the rateable value is over $400k. If the local estate agents are to be believed market value is more like $440-$460k.

We're all f*#^ed

[jeffbebe 1559]

Apparently Auckland is now the third most expensive city to live in the world (based on cost of living versus average income). Hong Kong's at number 1 and Sydney number 2.

I'm not complaining about house prices... We're lucky to live where we are but isn't the real issue the rising cost of living and the static average salaries? The strong NZ$ only really helps out the already well-off and makes it harder and harder for ordinary NZers to achieve their goals (such as owning a home).

[_ethrty-Andy_ 2122]

Apparently Auckland is now the third most expensive city to live in the world (based on cost of living versus average income). Hong Kong's at number 1 and Sydney number 2.

I'm not complaining about house prices... We're lucky to live where we are but isn't the real issue the rising cost of living and the static average salaries? The strong NZ$ only really helps out the already well-off and makes it harder and harder for ordinary NZers to achieve their goals (such as owning a home).

Where does it say its a third most expensive? It does sounds surprising. (Not calling you out, interested in reading)

[m325i 705]

Ok..

I was only making an observation between the prices of housing in Auckland. Not feeling self entitled or whatever other garbage you all seem to be directing towards me?

I thought this was a forum to discuss things. Jesus where's the love at, all this negativity in the air..

I was directing my comment of that apartment vs the leaker to you, but other comments were referring to the general mindset of newer buyers.

However I am curious. Why do you think $1m is a lot for remuera ? Remuera prices have been flat for a while and haven't seen increases anywhere near other parts of Auckland. $1m has been enrty level remuera for 10 years. Perhaps you need to do a bit more homework, because I would advise you to run a mile from that listing you posted. Here's a tip. If a property is advertised with a price in Auckland at the moment, it's overpriced.

Talk to a few different agents, they won't be shy to tell you their thoughts on competitor listings. Engage a valuer.

And if you are requesting property advice in a car sale sub forum of a BMW website, you're doing it wrong

/troll

[Allanw 1051]

We pay nearly $400 for a dark 2 bed just across the border from Ellerslie. Going by what other similar places have rented for on our street we've got it on the cheap too Same money would have us in a decent 3 bed plus double garage out Puke ways.

And I thought my mortgage payments were high! That covers it though!

My parents know some people that have a HUUUUUUUUUUUUUUUGE house. I seem to recall it being over 3000m2! Don't think I accidentally added a 0 there either - I really Mean 3000!

We would have a Rumpus Room - they have a "function" room - it's over 200m2.

We have a lounge, with a nice big window for taking in the view. They have a "viewing room" as it's on a peninsula mostly surrounded by water, which is floor to ceiling glass 270 degrees around the round walls of the room, with massive high celings.

We have a guest bedroom. They have a guest wing. It's slightly bigger than my house - 250M2

We have Alpacas, they have Alpacas, Guanacos, Ostriches (awesome eggs for Pavs BTW!) and donkeys.

How many live there??? 2 people!

They have an elevator for when they get old (plus he has a bad leg, from a motorcycle accident).

They don't do functions or anything, but do have a couple of baches they rent out when they can be bothered. They also have an art studio for "her", which is a 3 bedroom house!

Funnily enough, they aren't pretentious and don't give a crap what anyone thinks. They can afford anything they want, but they drive a Nissan Murano

It's nice to see how the other half live!

[qube 3568]

Me as my parents have been here for years but only managed to buy our first property back in 2003ish.

It was a 4 bedroom 1200sqm section house with double garage, overlooking Sylvia park (when it was non existent, just a bunch of sheds). So it's classified as mt Wellington, but it's 1 min to the motorway and extremely convenient. We paid around $280k I believe, renovated slowly while paying the mortgage, probably spent about 50-100k on everything, new paint, wood floors, double garage automatic doors, new deck, new aluminum windows and sliding doors, all te labour was done by my dad and me over around 4-5years. We then sold that place around 2008 to free up some capital for our business and sold for around $600k.. It's not impossible, we started with no savings, parents worked full time and I was a student, but we managed to do okay with a 90% mortgage..

We were renting in remuera and Parnell (mainly for my schooling) but once I got to Auckland boys grammar we decided to leave and buy a house. It was a difficult move, as I had to bus an hour each day until I was 15-16 and got my license and a car, but for sacrificing convenience, we ended up with a lovely house with a big section and somewhat of an investment which enabled us to start a business with the profit from selling the house as capital.

Basically, don't be afraid to buy out of your comfort zone, especially if you don't have children and no need to worry about their schooling.. It only means a little longer drive to work, a bit more petrol, earlier wake up times, but you get a house out of it rather than help put rent money into pockets of the owners.

[jeffbebe 1559]

Where does it say its a third most expensive? It does sounds surprising. (Not calling you out, interested in reading)

Can't remember where I read it. Economist maybe?

EDIT: I've been using that anecdote for a while so may not still be true! haha

Edited May 14, 2013 by jeffbebe

[E30 325i Rag-Top 2915]

^^If its on the internets it must be true.

My first house was a do-up which I rebuilt over 10 years with my own hands. That is what paid for me to live in Auckland.

Like the earlier post - not lucky, it's called bloody hard work and sacrifices to get long term pay back.

Kids today etc., etc..

Edited May 14, 2013 by E30 325i Rag-Top

[jeffbebe 1559]

^^If its on the internets it must be true.

My first house was a do-up which I rebuilt over 10 years with my own hands. That is what paid for me to live in Auckland.

Like the earlier post - not lucky, it's called bloody hard work and sacrifices to get long term pay back.

Kids today etc., etc..

I did say 'apparently'... At least it wasn't on Wiki! haha

Our house was mostly my wife's hard work... So I was pretty lucky (or smart, whichever way you want to look at it)!

[m325i 705]

http://www.economist.com/blogs/freeexchang...al_house_prices

http://theworstroom.tumblr.com/

Edited May 14, 2013 by Nick G

[charles28 117]

Mmm and I thought prices were bad here in Christchurch.

At 34 I have just purchased my 1st house, which I got built.

I didn't want some earthquake damaged house with EQC claim issues, also I was able to get a place built for about the same price as buying an existing one of similar spec.

I paid $399k for a new House, which is 3 Bedroom, 2 Bathroom, Internal access double garage, total 164sqm and 600sqm of land.

It took around 7 Months to complete, however is now worth around 440k.

The catch is that the house is in Rangiora, about 32K's from work, however I am getting used to getting out of bed early to beat the traffic.

I'm loving having a new house though, even on a cold day it stays quite warm, due to double glazing and better insulation.

This is what I got for 399k.

Uploaded with ImageShack.us

[tobytoblerone 3]

I was directing my comment of that apartment vs the leaker to you, but other comments were referring to the general mindset of newer buyers.

However I am curious. Why do you think $1m is a lot for remuera ? Remuera prices have been flat for a while and haven't seen increases anywhere near other parts of Auckland. $1m has been enrty level remuera for 10 years. Perhaps you need to do a bit more homework, because I would advise you to run a mile from that listing you posted. Here's a tip. If a property is advertised with a price in Auckland at the moment, it's overpriced.

Talk to a few different agents, they won't be shy to tell you their thoughts on competitor listings. Engage a valuer.

And if you are requesting property advice in a car sale sub forum of a BMW website, you're doing it wrong

/troll

Haha, I wasn't saying remuera is overpriced you idiot. Read the original post properly. It was aimed at how overpriced Auckland CBD apartments are when you could buy just out of the CBD a big beautiful home in Remuera. And yes I know $1 million is cheap for Remuera!

[huff3r 347]

Haha, I wasn't saying remuera is overpriced you idiot. Read the original post properly. It was aimed at how overpriced Auckland CBD apartments are when you could buy just out of the CBD a big beautiful home in Remuera. And yes I know $1 million is cheap for Remuera!

Jeepers settle down mate, he isn't having a go at you. No need to make it personal.

[tobytoblerone 3]

Jeepers settle down mate, he isn't having a go at you. No need to make it personal.

Me making it personal? Have you even bothered to read the rest of the posts from other members? Obviously not.

[qube 3568]

@charles32

looks like a lovely house, a nice garage to work in and plenty of driveway space for the family and guests.. cant really ask for much more for only 400k! good on you for getting a house built, i can see how it appeals to some, getting it custom made to your family's needs.

32kms to work sounds like a loooooong drive, but heck, we are discussing all this on a car forum where (i assume) we all love our cars and enjoy driving, what better way to rack up the milage than with some good ol' highway commute to and from work!

[_ethrty-Andy_ 2122]

Me making it personal? Have you even bothered to read the rest of the posts from other members? Obviously not.

noone is getting personal to you...

e: oh wait, i see it now, assuming you talking about Karls post.. but im sure it was written a different wayto how he meant it

Edited May 15, 2013 by _Ethrty-Andy_

[deeveus 81]

Man Im glad I live in Dunedin!

+1

Travel times, house prices, even climate most times are better IMO than the North Island (humidity in the summer) I guess it's all relevant but we wouldn't have half the stuff we do now if we lived in Auckland. I bought my first rental property for 36k about 13 years ago when I was 18, did it up and bought another one a few doors down for just over 40k in Oxford Street, South Dunners & sold them in 2004 & 2005 & buggered off to Melbourne for a year.

& Jeezus, Tobytoblerone... Get an S Class, your heart apparently beats several times fewer per minute than BMW owners lol.

[huff3r 347]

Me making it personal? Have you even bothered to read the rest of the posts from other members? Obviously not.

Nobody called you an idiot. It was a nice intelligent discussion IMO. Nobody meant to offend you, but seriously... chill out it's the internet, don't take it seriously. I have read every post, and been following this thread from the start. Maybe you should calm down and not jump to conclusions? Karl's post I believe was a generalisation about certain types of people these days, he didnt necessarily say you were one, just said that "if" you were a whinger he was sick of it.

And back on topic, I quite liked apartment living in Thailand but I don't know if I could handle that tiny box in Auckland. In saying that, it's bigger than the 90sqm house I'm in at the moment. But the 700sqm section here makes up for the tiny house.

[Apex 693]

I think property prices are like fuel prices - it's clear they are here to stay & historically have only ever continued to climb..

Yep, only we all bitch about the price of petrol but its only the suckers renting who bitch about the price of housing.. I don't like the price of new BMW's, only because I cant afford one

[deeveus 81]

Yep, only we all bitch about the price of petrol but its only the suckers renting who bitch about the price of housing.. I don't like the price of new BMW's, only because I cant afford one

Says the guy with a 2011 year Euro lol?

[Apex 693]

Lol, well I brought that new, think of my RS as nice modern property in East Auckland, it does everything you want and more, has all the same amenities, is safe, stylish and actually out performs other properties costing twice as much in Remuera... the new BMW is the house in Remuera.

For the record I own my large residential property in Papakura and next year plan to buy some land in the country and build, will keep the Property in Papakura as it will earn me nearly $1000 a week in total rent ability.

I would not move out of South Auckland and if I was given a nice house in Remuera I would sell

[m325i 705]

It was aimed at how overpriced Auckland CBD apartments are when you could buy just out of the CBD a big beautiful home in Remuera. And yes I know $1 million is cheap for Remuera!

big beautiful home in Remuera

beautiful home

Yeaaaahhhh.

I'll tell you why;

1. Its ugly as sin

2. It's not that big (the floor area would include the garage) and the section is tiny reletive to the dwelling size

3. ITS A FLAT ROOFED PLASTER LEAKER

4. If it doesn't leak, it has the stigma of a leaker

5. Landscaping? lolwut

6. Did I mention it's hideous?

Edited May 16, 2013 by Nick G

[euroriffic 602]

+1

Travel times, house prices, even climate most times are better IMO than the North Island (humidity in the summer) I guess it's all relevant but we wouldn't have half the stuff we do now if we lived in Auckland.

Yea it's good being able to drive anywhere to anywhere in 10mins, or 15mins on a busy day and yet still have all the shops and stores, that we actually NEED, instead of millions of the same sh*t under a different name.

Oh and it's not full of snobby wankers, dero's and gang bangers! But don't tell anyone or they'll all wanna come here

DUNEDIN HARD!!

Edited May 16, 2013 by euroriffic

[deeveus 81]

Yea it's good being able to drive anywhere to anywhere in 10mins, or 15mins on a busy day and yet still have all the shops and stores, that we actually NEED, instead of millions of the same sh*t under a different name.

Oh and it's not full of snobby wankers, dero's and gang bangers! But don't tell anyone or they'll all wanna come here

DUNEDIN HARD!!

Gang bangers? Ahahahaha!

Did you hear about that letter box that got smashed over a few years back? Dunedin is still reeling over it...