Property bubble? What property bubble?
This Harcourts real estate email was forwarded to me by a reader, look at how the real estate agent (whose details I won’t post here) boasts about selling houses to overseas buyers…
Latest Real Estate News Letter
20/06/2015 28 Cantora Avenue, Northpark Sold for 1.19M
10 Parramatta Pl, Botany Downs Sold for 1.081M
16/06/2015 9 fernloche place flat bush sold under the hammer for 1.09 million dollars
16/06/2015 15 oakridge way northpark sold under the hammer for 985k.
9/6/2015 13 Travers place Northpark was sold under the hammer for 1.04 million dollars.
On 7/6/2015,auction took place onsite. 1 Cantora Avenue was passed in. it is now under offer.
70 Golfland Dr, Golflands was passed in on 6/6/2015. It’s now under negotiation.
8 Caldbeck Rise was sold under the hammer on 4/6/2015 for 1.258 Million dollars. Overseas Chinese buyer won the auction.
On 27 May, 2015, 1/25 Millhouse drive was sold under the hammer for 930K. It has 4 bedrooms and 2 bathrooms, 180 Floor and half share of 1216.
Friday night 22/05/2015 27 Ambleside Drive, Northpark with 3 bedrooms and 2 bathroom, 180 Floor and 661 Land. It was sold under the hammer with a shocking price of 1.1 million dollars.
(Tuesday 19/05/2015)Without any surprise,Chinese buyers were still dominating the auction on Tuesday. Two were sold to Chinese buyers.
7 Laings Road, Bucklands Beach 190 Floor 855 Land CV 1.2M Price: 1.64M
3 Campian Place, Northpark 260 Floor 751 Land CV 970K Price: 1.34M
8 Sligo Place was passed in and under negotiation with the top bidder who was also Chinese.
In the past several weeks, we had some properties sold through auctions around the neighborhood.
8 Taiko Court, Northpark. 220 Floor 698 Land CV 820K Price: 1.298M
Our Chinese buyers helped us Harcourts Flat Bush push the house price even higher in East Auckland yesterday 08/05/2015 and set a new record high price.
At 2PM, many buyers gathered the on site auction at 5 Duntrune road, Flat bush. As again, dominated by Chinese buyers. Finally the price was set the at 1.31 million dollars. After helping translate, I’m fairly confident after chatting with them that they had a much higher budget and were determined to win.
5 Duntrune Road1, 182 floor 513 land, cv 720K Price: 1.31M
43 Matterhorn Cres, 220 Floor 801 Land CV 890K Price: 1.2M
1/27 Crescent Hill Court, 130 Floor, half share of 820 land, CV 650k Price: 750K
1/125 Millhouse Drive, 170 Floor, half share of 937 Land, CV 720K Price: 930K
If you need a free no obligation appraisal for your property, Please don’t hesitate to text, ring or email me at any time, I’ll pop over ,provide you with the most up to date market information ,share with you my expertise and help you understand East Auckland house market
Bachelor in Economics Hohai University 2001
GradDip in Commerce specializing in Marketing University of Auckland 2002
…the Government refuses point blank to deal with the demand side issues inflating the Auckland property market because the middle classes who are property owners now are earning more from their housing valuations going up than they are from their actual jobs.
The property bubble creates the illusion of economic growth and is the main reason the middle classes vote National, pop that bubble and the entire facade crumbles. The political backlash is the reason Labour are too frightened to take on a capital gains tax.
We need to stop all foreign owners from buying NZ property – it’s as simple as that, unfortunately the boomer generation who are benefitting most from this speculation will never allow that to happen meaning every generation post them have been locked out of property ownership.
Welcome to the world of vested political interests.