COVID + Residential Real Estate?

[chenda]

Sounds like a good plan @riggerjack.

[thrifty++]

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

[thrifty++]

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

[chenda]

@thrifty - An opportunity for you perhaps to buy something?

[thrifty++]

@chenda. Yes Im hoping so. Prices will have to fall a long way before they make financial sense here though.

[C40]

@Riggerjack - I think you're selling off at the perfect time.

[RFS]

A 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?

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.

[chenda]

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.

Highlights the benefits of been sufficiently distanced from major conibations but sufficiently close to benefit from their amenities and economic slipstream.

[thrifty++]

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

[chenda]

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

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++]

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.

I would not be surprised. Thank god foreign buyers are banned now. Im sure people will still try and flout the rules anyway