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after a very quick search
you can spend $1.5M on a 3-bed basic house in the middle of nowhere
or
https://www.realestate.com.au/property-house-qld-trinity+park-136400098
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@mariner4life said in Housing hornets' nest:
@nta said in Housing hornets' nest:
Anecdotally, I'm seeing a few people move out of Sydney because their workplace has indicated WFH is the new normal.
I'm stuck here at least until the MIL dies and the kids leave school, but I keep an eye on prices.
This place is not far from me - it is a 3 bed with a slightly odd layout due to being a corner block. People have officially lost touch.
https://www.realestate.com.au/sold/property-house-nsw-the+ponds-136734386
fuuuuuck
i just got my place valued. It is somewhat bigger and nicer than that
for that price you could buy mine and have an enormous wedge left over. In fact, you could buy a decent apartment in town as well.
The real estate agent who we used to sell the in-law's houses - and is a top bloke I might add - said my dream of moving out of Sydney is not as easy as it sounds in property terms.
Like fuck it isn't - could drop $30K on renovations and walk away with enough to buy outright pretty much anywhere else in the state. Fuck Sydney. Fuck big cities in general. When I downsize it'll be with or without the wife.
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@mariner4life people are doing that here, leave Auckland move up here (and south obviously) and have no mortgage, but our prices are now getting up there, so people have to head further north (Kawa Kawa, Kaikohe) or across to Dargaville for cheaper stuff, but even then, there are 3 bed houses in Dargaville going for >$600k.
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@taniwharugby said in Housing hornets' nest:
@mariner4life people are doing that here, leave Auckland move up here (and south obviously) and have no mortgage, but our prices are now getting up there, so people have to head further north (Kawa Kawa, Kaikohe) or across to Dargaville for cheaper stuff, but even then, there are 3 bed houses in Dargaville going for >$600k.
Mate if there is any kind of half-arsed internet I could move there. They need rugby refs with funny accents?
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@taniwharugby said in Housing hornets' nest:
@mariner4life people are doing that here, leave Auckland move up here (and south obviously) and have no mortgage, but our prices are now getting up there, so people have to head further north (Kawa Kawa, Kaikohe) or across to Dargaville for cheaper stuff, but even then, there are 3 bed houses in Dargaville going for >$600k.
you would have to pay me $600k to move to Dargaville. What a shithole
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@nta ha, yep always posts on the local refs social media page wanting them, even Aussies
Was one French guy that started several years back, so if we take French refs...
@mariner4life I'd go to Dargaville before Kaikohe...but ideally I'd buy a large plot of land pretty much anywhere in Northland, and plonk a house in the middle and wife and I can hide away!
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@taniwharugby said in Housing hornets' nest:
ideally I'd buy a large plot of land pretty much anywhere in Northland, and plonk a house in the middle and wife and I can hide away!
Bingo. Lifestyle block - get solar and an off-grid battery and wire the whole joint for 12V.
I imagine water harvesting isn't a problem, so a couple of 40,000L rainwater tanks and you're set like a jelly.
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@mariner4life said in Housing hornets' nest:
Maybe getting rid of interest only, but will that do much except probably increase rents? Especially if there is a shortage of supply?
Getting rid of interest only might help a bit but it does seem to be a tool used by speculators rather than investors (by that I mean capital gains v landlords).
There is no way rent increases can keep up with property values at the moment so it is a lose lose for everybody. Landlords, government, tenants. Absolute mess.
ROI is shit for a residential landlord so they sell, government is buying properties to keep families in homes at inflated prices, or tenants are getting kicked out because landlord is selling as the rent can't keep up the the capital gain. The government is also losing with increased WINZ rent payments as landlords try to achieve a ROI as much as they can.
Yes to rental shortage of supply and will get worse. It's pretty sad. I have kept some really good tenants on, even though the rent is way too low. Not completely altruistic because the property value is climbing in an area of growth with a motorway going in, so I may get some reward eventually, but it is a bit of a gamble when I could cash in now.
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@taniwharugby said in Housing hornets' nest:
but ideally I'd buy a large plot of land pretty much anywhere in Northland, and plonk a house in the middle and wife and I can hide away!
So you have been paying attention.
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Doing my bit for the housing crisis too. A bunch of new townhouses going in on the site where my relocatable was apparently. A net gain of at least 4 homes and none destroyed.
Surveyors (not Saveas for the Aussie rugby comms) here now, earthworks next week. Foundations week after. Fucking finally!
Council taking 4 months not 3 weeks for a consent might need to be looked at if we want more houses...
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@mariner4life said in Housing hornets' nest:
after a very quick search
you can spend $1.5M on a 3-bed basic house in the middle of nowhere
or
https://www.realestate.com.au/property-house-qld-trinity+park-136400098
that would appear to be significantly more livable for the family than the equivalent in my hood...this is the ONLY place that comes up in a search capped at $1.5m:
https://www.realestate.com.au/property-unit-nsw-fairlight-136910458
WTF is going on
@NTA I have had 3 mates sell up and move recently. One back to NZ, one to the mid-north coast of NSW, the last north of Ballina. Its a great option and is the only way to take advantage of the paper gains on your house - otherwise it means jack-shit except for the fact that it sucks for those who never bought. I thought hard about moving, but the one thing that will always stop me is the permanence of it - once you sell in Sydney, you ain't never coming back (unless you invest very, very well)
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@voodoo said in Housing hornets' nest:
but the one thing that will always stop me is the permanence of it - once you sell in Sydney, you ain't never coming back
Boo-frickin-hoo.
Look, there are obviously things that I'd seriously miss about living close to the big smoke. But having people living right next door to me would not be one of them. I grew up here, so "middle of fuck all" is not an unfamiliar concept, tho it has been a few decades
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@nta said in Housing hornets' nest:
@voodoo said in Housing hornets' nest:
but the one thing that will always stop me is the permanence of it - once you sell in Sydney, you ain't never coming back
Boo-frickin-hoo.
Look, there are obviously things that I'd seriously miss about living close to the big smoke. But having people living right next door to me would not be one of them. I grew up here, so "middle of fuck all" is not an unfamiliar concept, tho it has been a few decades
Nice. Our kids need the city vibe for a bit, but one day maybe - maybe quite not that remote though!
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My parents are subdividing some land and we were thinking about buying one of the plots. It's probably 15 minutes to a small country town in the south waikato, and it's going to be about 300K or more. By the time you do your site, sewerage etc and try to put a house on it, I'm assuming it'll be fucking near 800K.
To live there? I don't know how people afford it - I assume they don't and they just have to bank on potential capital returns.
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@nta out of interest, we advised on the very original solar flagships tender, which our client (FRV, Pacific Hydro and BP Solar) won with the project at Moree - was an awesome deal, had 9 x banks backing it, bugger all grant money, but ended up losing the thing for a variety of reasons. It got built later on with no banks, heaps of grant money, at half the size
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@voodoo said in Housing hornets' nest:
@nta out of interest, we advised on the very original solar flagships tender, which our client (FRV, Pacific Hydro and BP Solar) won with the project at Moree - was an awesome deal, had 9 x banks backing it, bugger all grant money, but ended up losing the thing for a variety of reasons. It got built later on with no banks, heaps of grant money, at half the size
Local member wanted a slice of the publicity I suppose?
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@mariner4life said in Housing hornets' nest:
@reprobate said in Housing hornets' nest:
@voodoo and yet still plenty of property owners will argue that nothing is wrong and how dare the government intervene. Ignoring that central and local government / reserve bank policies are the major cause.
Just a shame everyone in parliament owns plenty of property, or we might have seen some action taken 10 years+ ago.how do you fix it though?
You can't just arbitrarily devalue everyone's property, then you end up with a mortgage higher than the value of the house, and the bank comes knocking
Increasing interest rates only hurts people trying to get in to the market in the first place. and smashes the poor.
Maybe getting rid of interest only, but will that do much except probably increase rents? Especially if there is a shortage of supply?Banks can be and are regulated. Those regulations can be and are changed. If they've lent based on a value they've given a property, then why not make them stick to that value. Then sure, someone has overpaid, but they're still just paying the mortgage, and they still have a house. For anyone who owns one home that they live in - the value is semi-meaningless unless you are leaving, because you sell and buy in the same market.
My posts tend to get regarded as being pro first home buyer, but I don't really a give a rats about them specifically. When the DTIs come in, they should apply to them. Don't let people borrow so much when houses are so over-valued, it's crazy. And this then makes it harder and harder to do anything about it without fucking people up. The more you wait, the more people you fuck up - and successive governments on both sides have had no balls at all, and they've created and exacerbated this mess.
Supply needs to be addressed. But there are still houses advertised in NZ that make no mention of even living in the house as being an option: Land bank (what a fluffybunny of a term that is), invest, subdivide, develop. You can have a shortage of supply without a massive price increase if demand is limited too. If it's not attractive as an investment and people can't borrow through the roof, then less people want/can buy those houses - then prices stay down, ROI for landlords is fine and they don't crank rents etc.
I just don't think it is as complicated as people make it out to be.
Housing hornets' nest