In the very recent past: Wakefield st Apartment in high $1 million area. Chaffers Penthouse in the $3 m range. Roseneath Property well over $5 million.
Bodes well for the 900 m2 home I will market after Easter.
Sunday, March 28, 2010
Saturday, March 6, 2010
New Zealands Problem isnt the Property Market
Property isn't the cause of New Zealands' problems...its everything else!
I'm delaying the series I will do on proposed taxes on Property, so Kiwis invest in "more productive" things.
I've decided that there is something more important to discuss first.
Property isn't the problem here in New Zealand, its the poor state of the profitability other "asset classes".
Security for investors is still pathetic in the share market. It is a global sharemarket joke.
Put it in the bank or finance house? Another joke. If you dont lose i, by the time they tax 6% returns, you are going backwards.
Stories I heard over the the last 5 years here in Wellington were that the Labour government were advised bluntly and repeatedly that finance companies were a disaster unfolding. They did nothing.
I deal with the sad , tragic stories of those that lost their savings from that inaction by Labour on pathetic banking regulation. Many that lost their savings to finance company were lesser educated, older people...I suggest Labours own constituency.
It was probably hard for Labour ministers to hear the advice that a disaster was unfolding when thy were in the back of $250 000 BMW's.
I think its a disgrace those "socialist" ministers chose not to veto those gross, ugly, obcemly expensive BMW pigs. They should have bought something to set a good role model to their "subjects " like a hybrid Lexus at half the price. Its hardly better than politicians driving round in V 8 Fords while negotiating the Kyoto accord. Just like Lord of the Flies to me.
I digress. We live by exporting...but nobody is getting rich doing it. So who would?
Look at "our" billionaires or very rich: are they exporters? Fay & Richwhite, Gibbs, Giltrap, Jones , Hart, Watson, Morgan, Tindall... sorry, no. Not a one. A country reliant on primary production and not a really rich exporter. That says it all.
No, a high flying exporter in New Zealand is... is .... is someone about to fall a long way. Or be bought by their main client. I cant recommend being an exporter
.
Even the fairly well off economic commentator Gareth Morgan agreed recently in the Listener, more or less that "exporting is for idiots".
So what is the failure in New Zealands performance? Thanks Peter, a respondent to these blogs, for a blunt summary of why we are in trouble & exporters have to be fools to do it :The exchange rate disaster.
NZ has the 77th biggest currency in the world...but is the 13th most "traded." Making money betting against the " Kiwi" has been described as "like shooting rats in a barrel."
Our currency is the worlds traders' plaything. Because of our simplistic rules on monetary policy. We are often told how "admired" the Reserve Bank rules are. However no successful currency seems stupid enough to copy them as we do it.
So, whether you agree with me or not. If you took money out of the New Zealand property market... firstly: WHO DO YOU IMAGINE WILL BUY THAT PROPERTY OFF YOU?
That is, if a good number of Kiwis decide, that they take their money out of property & put it somewhere more "useful"...who do they sell to?
For the 35% of New Zealanders who have a landlord....who becomes their landlord if its "not a place we want Kiwis to have their money tied up"?
Secondly: WHERE WOULD YOU PUT THE MONEY?
NZ shares?
NZ Banks or finance companies?
NZ debentures?
Direct investment in small to medium NZ business?
Global shares?
Global Debentures?
Foreign property?
Foreign Banks?
Well I don't think a lot of that investment would stay in NZ. If the Government wont even leave 20% of the Kiwisaver money here, why should you?
Sorry for talking about the Emperors clothes, but this is my opinion.
Comments please!
I'm delaying the series I will do on proposed taxes on Property, so Kiwis invest in "more productive" things.
I've decided that there is something more important to discuss first.
Property isn't the problem here in New Zealand, its the poor state of the profitability other "asset classes".
Security for investors is still pathetic in the share market. It is a global sharemarket joke.
Put it in the bank or finance house? Another joke. If you dont lose i, by the time they tax 6% returns, you are going backwards.
Stories I heard over the the last 5 years here in Wellington were that the Labour government were advised bluntly and repeatedly that finance companies were a disaster unfolding. They did nothing.
I deal with the sad , tragic stories of those that lost their savings from that inaction by Labour on pathetic banking regulation. Many that lost their savings to finance company were lesser educated, older people...I suggest Labours own constituency.
It was probably hard for Labour ministers to hear the advice that a disaster was unfolding when thy were in the back of $250 000 BMW's.
I think its a disgrace those "socialist" ministers chose not to veto those gross, ugly, obcemly expensive BMW pigs. They should have bought something to set a good role model to their "subjects " like a hybrid Lexus at half the price. Its hardly better than politicians driving round in V 8 Fords while negotiating the Kyoto accord. Just like Lord of the Flies to me.
I digress. We live by exporting...but nobody is getting rich doing it. So who would?
Look at "our" billionaires or very rich: are they exporters? Fay & Richwhite, Gibbs, Giltrap, Jones , Hart, Watson, Morgan, Tindall... sorry, no. Not a one. A country reliant on primary production and not a really rich exporter. That says it all.
No, a high flying exporter in New Zealand is... is .... is someone about to fall a long way. Or be bought by their main client. I cant recommend being an exporter
.
Even the fairly well off economic commentator Gareth Morgan agreed recently in the Listener, more or less that "exporting is for idiots".
So what is the failure in New Zealands performance? Thanks Peter, a respondent to these blogs, for a blunt summary of why we are in trouble & exporters have to be fools to do it :The exchange rate disaster.
NZ has the 77th biggest currency in the world...but is the 13th most "traded." Making money betting against the " Kiwi" has been described as "like shooting rats in a barrel."
Our currency is the worlds traders' plaything. Because of our simplistic rules on monetary policy. We are often told how "admired" the Reserve Bank rules are. However no successful currency seems stupid enough to copy them as we do it.
So, whether you agree with me or not. If you took money out of the New Zealand property market... firstly: WHO DO YOU IMAGINE WILL BUY THAT PROPERTY OFF YOU?
That is, if a good number of Kiwis decide, that they take their money out of property & put it somewhere more "useful"...who do they sell to?
For the 35% of New Zealanders who have a landlord....who becomes their landlord if its "not a place we want Kiwis to have their money tied up"?
Secondly: WHERE WOULD YOU PUT THE MONEY?
NZ shares?
NZ Banks or finance companies?
NZ debentures?
Direct investment in small to medium NZ business?
Global shares?
Global Debentures?
Foreign property?
Foreign Banks?
Well I don't think a lot of that investment would stay in NZ. If the Government wont even leave 20% of the Kiwisaver money here, why should you?
Sorry for talking about the Emperors clothes, but this is my opinion.
Comments please!
Friday, March 5, 2010
Tattoo Apartments A Success
As part of my "Retail presence" I am promoting Archaus's new development "Tattoo" at the bnz on Willis st.These 5 metre sud height apartments are beautifully designed, & to be built this year. They are a similar concept in design to Conrads' 268 apartment proposal for down by the stadium called "iLoft". Archaus are the Architects there too. Priced from $308 000. Pop by and have a look.
Going Retail. Call in and See Me a bnz Willis st,
I am available downtown Wellington now.
Im trialling being available at the bnz Willis st every Friday, noon till 2pm. The big black tower. I have a spot at the front of the store. (Yes, they do call it a store not a bank, and it IS bnz not BNZ. ) Good attitude to lending too.Im teamed up with 4 other REMAX salespeople & we are here 5 days a week.
Do call in & say hi! The idea is a one stop sell your house spot, or just real estate advice.
Thursday, March 4, 2010
Heres What The Transit Houses Could Be Benchmarked Against
This sold at auction the other day : $825 000 or so, I was told. (To be confirmed)
It is in the same area, & similar type of property. I have not been through it so can not comment on format or condition, although I believe it was recently renovated.
Wednesday, March 3, 2010
Transits' 17 house bonanza tender
Tenders close today Friday (Not Wednesday as advertized originally)
There has been a lot of comment made to me on the strategy of putting all on the market at once, rather than in 2 or 3 lots.
It will be very interesting to see what they go for. The dwellings are shells inside but beautifully restored sparing no expense on the structures & exterior. And in great locations, albeit some adjacent to the Bypass.
Interesting to see who buys them , for how much, & what use.
A valuer I asked today how he would put a price on them said "as a completed house, and work backwards to what it will cost to finish them. They will mostly go as houses wont they?"
It will be very interesting to see what they go for. The dwellings are shells inside but beautifully restored sparing no expense on the structures & exterior. And in great locations, albeit some adjacent to the Bypass.
Interesting to see who buys them , for how much, & what use.
A valuer I asked today how he would put a price on them said "as a completed house, and work backwards to what it will cost to finish them. They will mostly go as houses wont they?"
Many of them are fabulous properties
The 3 Footscray avenue cottages, for example, selling as one lot, are a totally unique opportunity.
I will report back
The 3 Footscray avenue cottages, for example, selling as one lot, are a totally unique opportunity.
I will report back
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