Where the Aliens came from.

Well, Im just kidding about the Aliens, but it looked way weird being there. A very privileged moment being there.

It is near the Lord Of The Rings filming site for Rivendell, and...still only 35 minuits from New Zealands Parliment.

Enjoying showing Wellington!

Now this is actually 80 km from the CBD. Hope you like the image....it was far more amazing actually there!

And more on Wellingtons wonderfulness

Took this tonight when I took the dogs for a walk.

Threw a line in off the wharf. Nothing.

But enjoyed talking to the other fisherman there.

He didnt catch anything either.

And 20 minuits to the CBD.

Why Live in Wellington New Zealand?

So I can live up the hill behind here.

I catch fish off the wharf to your left.

And yet I can be outside Parliment in 15 minuits. Like Iceland without the ice, & no banks gone bust!

Crazy number of offers on first homes & investment potential houses

So what the heck IS happening in Wellington, & New Zealand real estate?

Heres your author, with a plain house that just had 23 buyers put offers in to be the new owners!

So I'm trying to work out what the chicken entrails are telling us:

NZ banks are, & have been, actively lending again at 6.95 to 8%. Even to 95% loans. Kiwi banks , & their Aussie parents, havent been involved the international financial stupidity, & seem to be doing fine.

First home buyers keen.

Investment buyers standing , salavating at the sidelines. NZ rents are still strong. Many have portfolios bought at half current values & are, after depreciation, seriously cashflow positive. AND, thats BEFORE they refinance fron currently ending 9.5% loans to maybe 7.5%!

So: tidy 2 flat home in Berhampore: $900 week rent, very tidy. 7.1% gross, two offers at that level, so not a random yield.

Kilbirnie: $630, 000 sale, with tidy up: potential 8.8% gross yield.

Yet the media tell us the end is still....maybe...nigh!

23 offers on a do up ( ie tired house) on a lovely flat section near Peter Jacksons Mirimar Wellngton Film studios. For those of you not Wellingtonians....flat sections are RARE! Im serious. We pay more for them!

The picture is if it , with a flattering shot of your author.

32 offers (truly, 32 buyers putting legal offers in, for consideration) on a tidy house nearby.(!)

So....there is a shortage of stock.

Are we at the bottom?

High immigration inwards helps prices up.

Building costs are still astronomical ( double Queenslands per square metre rate)

Hmmmm....whats going on? I will tell you what I think is happening....soon.

With apologies to friends who are new age ( see http://www.starlightrising.com/ )

"Astrology was invented to make economic forecasting look good"

Keynes