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Thread ID: 106822	2010-01-24 22:04:00	House prices	Nomad (952)	PC World Chat

Post ID	Timestamp	Content	User
851487	2010-01-25 03:23:00	Be interesting to see what happens to the house prices in about six months' time when the new tax rules come in.	Scouse (83)
851488	2010-01-25 03:46:00	Wellington is one of the most expensive parts of NZ to buy a house in. Todays News: The dream of home ownership is once again fading for many young Kiwis. New Zealand home loan affordability deteriorated in December to its worst level since November 2008 after a rise in both house prices and mortgage rates, Interest.co.nz's home loan affordability report shows. This measure of a 'standard typical household' found the proportion of after tax income needed to service the mortgage on a median house rose to 41.2 per cent in December from 40.6 per cent in November. This measure assumes one median male income, half a median female income aged 30-35 and a 5 year old child that receives Working for Families. Affordability worsened most in Wellington, Nelson/Marlborough and Canterbury as median house prices rose to record highs despite low turnover. Auckland is fast catching Queenstown again as the least affordable region in New Zealand as prices rose in the harbour city while prices fell in the alpine resort.	pctek (84)
851489	2010-01-25 04:16:00	I think my position still at home I get to save up the deposit. If I were renting, I think spend a good few yrs saving for deposit then just accept a 25yr mortgage. You will sacrifice so much of your lifestyle but at the end of it you may get this asset with the advantage of CPI over time but some people may say it might not be worth it..	Nomad (952)
851490	2010-01-25 04:34:00	I think if there are gonna be more taxing. I think first time buyers and family owners may still have competitions with other buyers. It may be less activity in the cheaper but smaller apartment and higher end stuff which may be the investor's domain.	Nomad (952)
851491	2010-01-25 04:35:00	Others have mentioned Johnsonville - when I lived in Wgtn for 15 years I used to notice that the weather improved just as you passed J'ville on the Porirua motorway. My brother used to commute by motorbike from Raumati every day, and he confirmed this - a definite improvement in the weather. And in Wgtn, any improvement in the weather is a good thing... The weather never improved going up the Hutt Valley - shudder. We lived in Karori for 6 years. People think of it as a posh suburb like Remmers or Fendalton, but only those who didn't know it - there was a huge range of housing options up there, from State Houses through to some of the most expensive housing in Wgtn. I used to bike to and from work in downtown Welly, and we lived right up the top end of Karori on Makara Road. I am just suggesting you don't make assumptions about anywhere in Welly - it isn't like other cities that have expensive and inexpensive suburbs - there can be relatively affordable houses in lots of places. Our first house in Evans Bay was financed on a $1500 deposit (it cost $7500). It was a cheaper house because it was only two bedrooms, and it was half way up the hill from Evans Bay Parade. We had 150 steps and two zigzags to get to the roads above and below our house... That was fine for us as our starting investment cos we were young and fit then! My two bobs worth!	John H (8)
851492	2010-01-25 05:30:00	I think if there are gonna be more taxing. I think first time buyers and family owners may still have competitions with other buyers. It may be less activity in the cheaper but smaller apartment and higher end stuff which may be the investor's domain. Have you actually checked with a bank on how much they will allow you to borrow and the deposit you will need? You may find they will only allow you to borrow up to a certain amount and may require at least a 20% deposit. On a 400k house, that means you have to save 80k, just for the deposit, and they then may only lend you 200k, as it will depend on how much you earn, which means you may not be able to afford a wellington house. You have to be earning a good wage to get a big loan while you are single (I am assuming you are buying it on your own). You may qualify for a 'Welcome Home' government loan. One of the best ways to buy a house today, is to buy it as a couple (eg be in a relationship), as the bank looks at both incomes. You should read interest.co.nz, as they have many articles on it about housing.	robbyp (2751)
851493	2010-01-25 05:32:00	Be interesting to see what happens to the house prices in about six months' time when the new tax rules come in. Thats if the government actually does anything, which they may not due to many of the tax changes being unpopular.	robbyp (2751)
851494	2010-01-25 05:52:00	In today's Nelson mail here (www.stuff.co.nz)	gary67 (56)
851495	2010-01-25 06:14:00	Have you actually checked with a bank on how much they will allow you to borrow and the deposit you will need? You may find they will only allow you to borrow up to a certain amount and may require at least a 20% deposit. On a 400k house, that means you have to save 80k, just for the deposit, and they then may only lend you 200k, as it will depend on how much you earn, which means you may not be able to afford a wellington house. You have to be earning a good wage to get a big loan while you are single (I am assuming you are buying it on your own). You may qualify for a 'Welcome Home' government loan. One of the best ways to buy a house today, is to buy it as a couple (eg be in a relationship), as the bank looks at both incomes. You should read interest.co.nz, as they have many articles on it about housing. I am just doing the home work for now at present. I am looking at maybe a 300k house that some are advertised as ... but haven't seen how are they like thou. Yep on my own. Got a decent deposit 50k, job earning 70k, cos I am not gonna live in it, prob be for investment. Taking a year for study for a new direction. Haven't looked at the govt scheme. I thought about in a few yrs getting that deposit higher - cos of the interest. Depends how the framework is too in 6 months time, if LAQC etc.	Nomad (952)
851496	2010-01-25 08:58:00	I am just doing the home work for now at present . I am looking at maybe a 300k house that some are advertised as . . . but haven't seen how are they like thou . Yep on my own . Got a decent deposit 50k, job earning 70k, cos I am not gonna live in it, prob be for investment . Taking a year for study for a new direction . Haven't looked at the govt scheme . I thought about in a few yrs getting that deposit higher - cos of the interest . Depends how the framework is too in 6 months time, if LAQC etc . Don't know if you want to buy it through a company, unless it is an investment property . You may instead want to buy it through a trust, so that it is protected, in case you get a partner and you break up, and they want half your assets .	robbyp (2751)
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