COVID + Residential Real Estate?
Re: COVID + Residential Real Estate?
Sounds like a good plan @riggerjack.
Re: COVID + Residential Real Estate?
There is loads of news coming out of Australia about rents dropping and property investors exiting and selling up. I hope this feeds over to NZ. https://www.afr.com/property/residentia ... 1591947461
Re: COVID + Residential Real Estate?
Rent have been plummeting across major Australian cities. Sydney rent prices are back to 2013 levels. https://www.theguardian.com/australia-n ... 8-IVqZhTr8
We dont have much information in NZ yet but prices in Queenstown have plummetted, a resort city in the southern alps https://www.stuff.co.nz/life-style/home ... cFnNeimxSI
We dont have much information in NZ yet but prices in Queenstown have plummetted, a resort city in the southern alps https://www.stuff.co.nz/life-style/home ... cFnNeimxSI
Re: COVID + Residential Real Estate?
@thrifty - An opportunity for you perhaps to buy something?
Re: COVID + Residential Real Estate?
@chenda. Yes Im hoping so. Prices will have to fall a long way before they make financial sense here though.
Re: COVID + Residential Real Estate?
@Riggerjack - I think you're selling off at the perfect time.
Re: COVID + Residential Real Estate?
I wonder if people are also spooked about their city's ability to enforce rule of law. Here in Atlanta, dozens of cops have called in sick to protest the city DA's handling of the Rayshard Brooks case. In one zone, all but 3 officers called out. This has been going on for the past 3 days. As someone who is considering buying property in the city, it is definitely concerning.classical_Liberal wrote: ↑Fri Jun 12, 2020 1:49 pmA year ago the few multi-units that were listed were waaay too expensive to bother with further analysis. I wonder if all the Federal interference (ie halting evictions), the recent social pushes for more rent controls in bigger cities, ect, has some mom & pop investors spooked. Trying to get out while the gett'en is still good?
Re: COVID + Residential Real Estate?
Highlights the benefits of been sufficiently distanced from major conibations but sufficiently close to benefit from their amenities and economic slipstream.RFS wrote: ↑Sun Jun 21, 2020 12:14 pmI wonder if people are also spooked about their city's ability to enforce rule of law. Here in Atlanta, dozens of cops have called in sick to protest the city DA's handling of the Rayshard Brooks case. In one zone, all but 3 officers called out. This has been going on for the past 3 days. As someone who is considering buying property in the city, it is definitely concerning.
Re: COVID + Residential Real Estate?
Property prices in NZ expected to fall 12% this year. Its not a lot compared to how ridiculously expensive and unaffordable it is anyway but its a good start. Hopefully it drops by another 12% again next year.
https://www.nzherald.co.nz/business/new ... rffOS5ugIY
https://www.nzherald.co.nz/business/new ... rffOS5ugIY
Re: COVID + Residential Real Estate?
I wonder though if you'll get a new wave of billionaire refugees looking for a safe haven. It might be a narrow window of opportunity to buy cheaply.thrifty++ wrote: ↑Mon Jun 22, 2020 2:21 amProperty prices in NZ expected to fall 12% this year. Its not a lot compared to how ridiculously expensive and unaffordable it is anyway but its a good start. Hopefully it drops by another 12% again next year.
https://www.nzherald.co.nz/business/new ... rffOS5ugIY
Re: COVID + Residential Real Estate?
I would not be surprised. Thank god foreign buyers are banned now. Im sure people will still try and flout the rules anyway