In the news

***blog post by ex Reserve Bank economist Michael Reddell on House Club***

https://croakingcassandra.com/2020/01/27/free-up-housing-by-shaking-up-politics/

 

Dunedin prices up 20% in the last year

https://www.odt.co.nz/business/property/houseprices-dunedin-rise-208

Average house price in NZ now $714,747

https://www.interest.co.nz/property/103494/qv-figures-show-average-residential-property-values-increased-25-three-months

Even Whakatane is no longer affordable  - there are 382 comments on this article.

https://www.stuff.co.nz/business/118924598/whakatane-teacher-feeling-impact-of-housing-unaffordability-threat-to-middle-class

Rental woes

https://www.stuff.co.nz/life-style/parenting/118913728/so-this-is-why-the-kids-wont-leave-home

More rental woes

https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12303101

Housing shortage putting pressure on rentals in Wellington

https://www.rnz.co.nz/national/programmes/checkpoint/audio/2018730992/record-rent-prices-as-wellington-faces-major-property-shortage

Buying a house in a tough market

https://www.stuff.co.nz/business/118984598/heres-how-to-buy-a-house-if-youre-on-a-median-income

Excellent article by Don Brash in ELocal 

https://www.elocal.co.nz/Articles/elocal-Digital-Edition/2473

Kiwi Dream still alive

http://www.newgeography.com/content/006327-the-new-zealand-dream-still-alive

 

 

2020 home affordability survey here

https://www.stuff.co.nz/business/118831756/rising-regions-make-nzs-housing-market-less-affordable

and here

https://croakingcassandra.com/2020/01/22/housing-unaffordability/

and here - note Table 2  - New Zealand worst

https://www.newgeography.com/content/006531-standard-living-crisis-evident-new-demographia-international-housing-affordability-survey

Hard hitting article from the NZ Initiative

https://nzinitiative.outreach.co.nz/?Ns=&Na=view-msg-public&SMESG-oid=21663&Scontact=2149250d

Even the UK is reading about our housing crisis

https://www.theguardian.com/world/2019/nov/29/families-living-in-tree-huts-as-new-zealand-housing-crisis-bites

 

Good article about young Kiwis priced out of the property market (subscribers only)

https://www.nzherald.co.nz/opinion/news/article.cfm?c_id=466&objectid=12300114

 

Interesting tiny house village in Murawai in an ex motor camp. High prices reflect the cost of zoned land in Auckland

https://www.oneroof.co.nz/news/first-tiny-homes-village-launches-in-new-zealand-37502?fbclid=IwAR1wPn7uOrcIpPuWmisvvvDdy83JXthS9Txuttk4Wbgqmp8ijOCebh1pffs

Tiny house get's classed as a building by MBIE and now needs a building consent.

https://www.stuff.co.nz/nelson-mail/119265333/tiny-home-in-lower-moutere-found-to-be-building-requiring-consent?fbclid=IwAR11KS8MSEgfTOmVHsYtu89gNhRmdrCFFD-21_bHMCOPMtTw60M6TUdGKwk

 

Property prices predicted to increase in 2020 by 13 economists (subscribers only but main excerpt is below)

https://www.nbr.co.nz/story/experts-predict-property-prices-will-rise-2020

Property prices

Panellists were asked how much they expected prices to change in 2020, following the recent upward trend which saw record-breaking median prices across the Northland, Southland, Tasman, Taranaki and Manawatu/Wanganui regions. 

Of all the cities, Dunedin came out on top with a predicted 6% price increase. This would see the median property price rise by almost $30,000, from $485,000 to $514,100. 

Dunedin was followed closely by Auckland and Wellington at 5%. The experts also forecast prices to increase by 4% in Christchurch. 

While that doesn’t bode well for housing affordability, a third of the experts are feeling positive about wage growth. However, a similar number have concerns about household debt and the cost of living.

The panel includes experts from the University of Canterbury, Property Apprentice, Real Estate Institute, Infometrics, the New Zealand Initiative, Property Council, Economics NZ, Resimac, Kiwibank, CoreLogic, ANZ and Westpac, as well as independent economist Michael Reddell.

 

 

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