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Posts Tagged 'House prices'

Auckland houses unaffordable – really?

Guest Blogger –  Stuart Christie

The NZ  Herald has once again relayed the harrowing story of families denied their opportunity to live in Auckland because houses have become unaffordable. It gave  examples of record prices paid. I’ve spent some years in real estate, and I wonder what is going on.

It’s all nonsense, of course, because the people who bought those houses could afford them and presumably  are very pleased with their purchases. I dare say that other bidders at those auctions could afford those houses as well, but were just beaten out by the last bid. That’s not new, that’s always been the case as long as auctions have been around.  Now, maybe if a property is  ‘passed in’ at auction it could be unaffordable.

Isn’t it true that most of these buyers are simply trying to buy houses they can’t afford? Unless your second name is Dotcom then it is likely there are thousands of houses you can’t afford in Auckland. That’s a fact of life. Sure, there have been a few  rapid price rises in some areas, but first or second home buyers have generally never been able to afford a first home in central Auckland or most of the inner suburbs. Read the rest of this entry »

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