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Thread ID: 98175	2009-03-14 09:13:00	Has house priced dropped for ordinary NZders?	Nomad (952)	PC World Chat

Post ID	Timestamp	Content	User
756283	2009-03-14 09:13:00	Hi, still at home, saving for my deposit, house prices may have stalled which is great :thumbs: Just a thought. I have read the stats. I think that the more expensive houses and the apartments the drops have been there, but how have been the mainstream 3 bedroom (boring) family houses? I am a house newbie but my view is that the price changes are pretty modest and they are always in demand by families, ie., better than to pay rent and it is a long term investment. Some may get a less expensive house so they may always be demand in the mainstream houses. I would think that not many families would live in townhouses or apartments. I would suspect many people are not willing to sell at a lower rate or even list it. There are probably many older people who have gained in the property market in the past who are always looking for a deal ... so young 1st buyers can be a difficult field to play in. Cheers	Nomad (952)
756284	2009-03-14 10:04:00	I think the main problem at the moment is that not many people have the required deposit to buy a house. Gone are the days when you only needed 5 or 10% or even no deposit. Most banks are wanting 20-30% ATM. I don't think prices will stay low for long and will probably start going back up by the end of the year. This is because of a combination of things, the low interest rate being one. Also NZ has always typically not had enough properties to satisfy the demand and with the slow down in new buildings this will only get worse. Add to that the ex-pats who are returning due to job losses overseas and the drop-off of people leaving to Aus etc. and I think there will be a demand for properties by the end of the year.	CYaBro (73)
756285	2009-03-14 19:47:00	Going by the rateable values that council extorts their rates from, prices continue to rise :yuck:	R2x1 (4628)
756286	2009-03-14 20:53:00	If credit was easier to get, wouldn't that push up prices cos more people would demand housing. I think if one ignores the high end and the apartment markets, the 3 family house don't have price drops, cos on any day teh price could fluctuate +/- 10%, as I understand if it is a house that one really likes the advice I read is to pay 10% more. Families aren't gonna live in apartments, many would rather buy than rent. I have never been in an open home ever. Did a drive around and what I gathered is that if you define your perimeter to the city and cut out the suburbs you don't like, all the houses are pretty much the same, as a species we live in decks of cardboards. The newer housing tend to be in newer suburbs, occasioanl knockdown and rebuilt, most of the kiwi housing are the older style timber type. I find them bland but to meet a purpose, no way do they meet a magazine's requirement. Well Westpac online asked me for a 95k deposit if I want a 350k loan, :D	Nomad (952)
756287	2009-03-14 21:42:00	My Better half works for a real estate company, and to quote her, prices on houses in general have dropped compared to what they used to be. As she explained it, houses that used to sell well above their QV are now mostly selling either at or below the QV, but there is sometimes a difference in the location of the house as to how much the price is affected (towns, areas etc). QV = (Quotable value, or what was known as Government Value)	wainuitech (129)
756288	2009-03-14 22:50:00	Meh, My house more then doubled in value of the last 5 years, If it has dropped back 20 percent since then I'm still sitting on gold. Not that I'm going anywhere in the next decade or so....	Metla (12)
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