The good news for real estate this week has been the foreign buyers changes for visa holders.
Adding to that, we've had a series of interest rate cuts, with more to come.
But in a place like Auckland what do you buy, and where?
There is no small amount of angst currently over a new unitary plan.
The new plan came out of the Government's idea of having three houses, three stories tall, on a regular section with no real clearance required.
Auckland didn’t want that, so they were, and are, allowed to make up their own.
The answer roughly, at the moment, appears to be high-rise and a lot of it around public transport hubs. Cue the outrage, the upset, the questions, and the heated meetings.
The new plan must be able to accommodate two million houses.
What this does to a real estate market is simple: it hobbles it, especially at a time when none of the decisions are made or are concrete.
What neighbourhood is affected? What part of that neighbourhood?
We looked at a place the other day. Currently it's mixed use with next door being commercial. It could be 27 stories. It's not currently, but it could be.
Another place we looked at had a nice view of the harbour, apart from the house in front that could be multi-story. It isn't currently, but it could be.
You don’t look at a house anymore, you look at the house next door, or behind. What is it? What could it be?
There is little in life to fire us up more than our castle and its environments being meddled with.
Making it worse, specifically, in a place like Auckland is the fact the place has been butchered by clowns. You wouldn’t trust these people to run your bath, far less a city.
So as we sit and wait and debate and get tense and object and fume and worry, how many people who were about to borrow, or spend, or shift, or expand, or build are now second guessing?
And in second guessing, doing nothing?
Mike Hosking is a New Zealand television and radio broadcaster. He currently hosts The Mike Hosking Breakfast show on NewstalkZB on weekday mornings - where this article was sourced.
The new plan came out of the Government's idea of having three houses, three stories tall, on a regular section with no real clearance required.
Auckland didn’t want that, so they were, and are, allowed to make up their own.
The answer roughly, at the moment, appears to be high-rise and a lot of it around public transport hubs. Cue the outrage, the upset, the questions, and the heated meetings.
The new plan must be able to accommodate two million houses.
What this does to a real estate market is simple: it hobbles it, especially at a time when none of the decisions are made or are concrete.
What neighbourhood is affected? What part of that neighbourhood?
We looked at a place the other day. Currently it's mixed use with next door being commercial. It could be 27 stories. It's not currently, but it could be.
Another place we looked at had a nice view of the harbour, apart from the house in front that could be multi-story. It isn't currently, but it could be.
You don’t look at a house anymore, you look at the house next door, or behind. What is it? What could it be?
There is little in life to fire us up more than our castle and its environments being meddled with.
Making it worse, specifically, in a place like Auckland is the fact the place has been butchered by clowns. You wouldn’t trust these people to run your bath, far less a city.
So as we sit and wait and debate and get tense and object and fume and worry, how many people who were about to borrow, or spend, or shift, or expand, or build are now second guessing?
And in second guessing, doing nothing?
Mike Hosking is a New Zealand television and radio broadcaster. He currently hosts The Mike Hosking Breakfast show on NewstalkZB on weekday mornings - where this article was sourced.
4 comments:
2 million new houses in Auckland?
Well...according to 2023 Census there were 611,895 dwellings in Auckland. These dwellings accommodate the population of approx. 1.7 million. So, for additional 2 million of houses population would have to increase almost threefold to nearly 7 million. Somebody lost the plot methinks...
“Butchered by Clowns; a story of New Zealand”
The repeat govt meddling with the carefully thought out and adequate for years ARP is a disaster. Must have cost ratepayers a fortune so far. Goff was clearly sceptical but as a Labour man contained his criticism. Pleasant suburbs which provide comfortable long term homes for city employed professionals, as around Baldwin station, no longer provide a stable future. With the threat of 6 stories, then 10, now 15 alongside everywhere many will pursue stable distant sites and work from home, defeating the object of the rail extension.Other countries dynamite tower blocks. Meanwhile the threatened suburbs, parts of many very attarctive, will decline to rentals. Few or no tower blocks may be built but the threat ruins vast areas. Unlike for the floods no ompensation for the devastated owners, many of whom only bought afer detailed consideration of the ARP. Any toweer blocksw will likely end up filled with workers railing to South Auckland, hardly the intent.
Great idea…build thousands more houses in Auckland on top of an active volcanic field. Well not presently active you understand, but may be tomorrow. What could possibly go wrong?
Post a Comment
Thanks for engaging in the debate!
Because this is a public forum, we will only publish comments that are respectful and do NOT contain links to other sites. We appreciate your cooperation.