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The NZ house pricing bubble

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    #2
    pclancy
    Registered Users Posts: 3,939 ✭✭✭pclancy


    Yes indeed I have been saying for several years now the signs are similar to Ireland's property boom. Auckland is spiraling out of control, thankfully Wellington not so bad but Christchurch is also having supply issues.

    I'm not sure if I totally agree that the GFC caused people to hold back and not buy over the last few years, people have been buying but the large numbers of wealthy immigrants and overseas investors are compounding the problem of not enough housing stock. Builders and developers are often just sitting on land thats already been zoned but waiting for the prices to continue rising.

    The banks are shoving cheap loans and mortgages down peoples faces with cheap rates and ipads/TVs.

    Its real hard for young people get on the "ladder" here now. What I'm also worried about is when the baby boomers want to sell up and get some cash for their retirement.


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