Mungo no understand…
House prices fall again in April – REINZ
House prices fell 1.1% in the year to April, according to Real Estate Institute data out today.
The median house price fell from $790,000 in April 2024 to $781,000 in April 2025, REINZ said.
Auckland’s median price fell 4% to $1 million in April, when compared with a year ago.
Wellington house prices fell 5.5% to $775,000.
…after rolling out the red carpet for foreign speculators and giving landlords their $3billion tax loop hole back, why are house prices falling?
It’s because the ‘economic plan’ of this right wing Government is nothing more than cutting the budget.
Nicola Willis is a wide eyed free market NZ Initiative acolyte, she BELIEVES cutting the State allows for the private sector to move in and provide the service cheaper as a matter of faith, her economic policy is austerity and amputation.
BECAUSE OF THIS total lack of actual growth promoted by the Government being active, Kiwis are fleeing NZ at an enormous rate…
‘Hollowing out’: New Zealand grapples with an uncertain future as record numbers leave
Surge of departures – mostly fleeing a weak economy – fuels concern over the longer-term impact on the country as some small towns scramble for survival
Brain drain: New Zealand departures continue to set new records
The number of New Zealand citizens leaving the country long-term continues to set new records, Stats NZ said today.
New data for the year to September shows a net migration loss of 54,700 New Zealand citizens in the September 2024 year.
This record net loss of New Zealand citizens was driven by a record 79,700 migrant departures, which more than offset the arrival home of 24,900 Kiwis.
The figure surpasses the revised figure of 54,378 in the year to August.
…and this massive exodus is what is impacting the House prices.
If you aren’t prepared to make NZ livable, people will flee and that is what is happening!
Funny isn’t it, if a 1000 kiwis were leaving each week to create the largest migration out of NZ in modern history and the Labour Party was in power, news headlines would be screaming at Labour and blaming them for it, yet National are in power and not a fucking whisper of complaint or challenge over this Government’s appalling economic direction and abdication of responsibility.
The double standards from our mainstream media is one of the the reasons why the Mainstream media are dying.
This mass exodus is National’s problem and they are doing nothing about it!
Declaring a war on working women won’t help!
Net loss of NZ citizens hits calendar year high in 2024
Nearly 40% of the Kiwis who left the country last year were aged under 30, new migration data shows, as New Zealand experienced its largest calendar year net loss of citizens.
The sheer incompetence of this Government is staggering.
They imposed a massive public funding amputation using an Austerity Budget that borrowed more for tax cuts we cant afford while hollowing out actual money for public services.
This led to a total shut down of the construction industry for public housing builds and has seen workers flee to Australia!
National did this, National take the blame.
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Something is not right. A friend observed: “We had our settlement, we own all this land-so why are we renting?”
The housing market is a fickle beast. In some more advanced countries it is against the law to own homes which sit empty. Here in nz if you own a property in a district apart from the one you live in, you are eligible to cast a vote in that other district’s local body elections. This means more political power to the dreaded landlord class. The cost of a rental is quite frankly staggering, meaning renters are on the back foot and less likely to vote locally due to stress, disillusionment, disconnection and so on. Local council policy will be driven by the loudest voices and the needs of less well to do areas neglected.
I can’t see nz making economic headway without massive investment in promoting wool as the natural solution to microplastic pollution from synthetic fleece.
“We had our settlement, we own all this land-so why are we renting?”
That would be an IWI problem?
Not the govt’s, if they received a settlement and the land is owned by the IWI, then it’s the IWI who are getting the rent!
fuck of im right iwi only own about 6% you dick head talking crap as usual
I’m right can’t be bob1st because that entity prefers short statements, with confidence. Right is longer but still out of the same him book, (may be her book). It is sad to be confronted by such determined ignorance, when trying to have an informed discussion. Don’t bother I’m Right just hold onto your conviction without trying to discuss with us lesser beings.
im right is Luxon under cover cant you tell by the stream of meaningless shit
gin h Good points, we must be aware of flow on effects of bad governance.
I have been house shopping with my daughter this week and have been amazed how many of the so called squeezed middle are selling for less than they paid 3 years ago .This is the direct result of the greed fueled shopping spree they went on in 2021 paying stupid money for average homes .Then they spent up large on flash kitchens and bath rooms as well .We have seen homes where the seller is taking $150k loss just on what they paid before the spend on the nice to haves .
Those owners maybe more squeezed now than before the election .The fictional tax cuts they voted for have done nothing to un squeeze them as Luxon lead them to think would happen .Infact Luxon had completely squashed them so they are the next wave of bottom feeders .
gordon walker – I too have noticed this…the middle- class losing huge amounts of money due to forced sales…distressing for them.
Poor management of the economy by your lot lead to the high prices which us why they lost office .
bull shit greed by your lot and now its coming back to bite their squeezed arses .Good fucken job they are now getting what they deserve for their race based hate voting .
Spot on reply Gordon .
Speaking of poor management by your lot, unnecessary tax cuts, landlord rebates, axing of pay equity, terrible management of gun law, repealing smoking cessation policy, free prescription, reintroducing pseudoephedrine, etc etc etc.
Yes, gordon walker and that is why the bald one quickly sold a few of his properties.
One of NZ’s core cultural beliefs anchoring what we think about the world is that no-one ever loses money buying a house.
So when Adrian Orr flooded the money supply during Covid, house prices skyrocketed (that’s the 3 years ago) and people were desperate to purchase at any price. They paid stupid prices becuase house prices only ever go up – and MPs like it that way becaue it makes voters feel wealthy.
It makes ” some ” voters happy.
And John Key drove up prices long before Adian Orr flooded the country with money to keep businesses and people alive Ada, at least get your facts right.
Just speculating: Younger people because Australia is a more optimistic society. But house prices are insane there too along with the cost of living. Many are emigrating to a more affordable life in Asia e.g. Malaysia and Thailand. So it’s tough over there as well. House prices got so high here that people gave up it’s not worth trying to get a house or be a mortgage slave for next 30 years or have children it’s all unaffordable.Give up! Renting is screwed here too. Nothing to lose in Australia at least its warmer they have a lifestyle! Same everywhere housing and cost of living impossible. Parts of Europe are still good like Bulgaria and Italy outside the cities. Suspect easier to get work in Australia if you have the skills they need.
Young people here must feel betrayed since ” The great leap backwards ” of the Neoliberal nightmare from 1984. Immigration and population increase has worsened the situation too. Except for the get rich by capital gain speculators. In the old days governments went out of their way to help young couples into homes and supported young families the best they could. But ” user pays ” did that in. And ” I’m sorted ” attitude shows uncaringness. Plus refusal to levy a wealth tax plus a real capital gains tax that bites Hello Labour! . Housing as a commodity rather than a place to live a vital national asset. Plus letting foreigners come in and buy our houses to enrich themselves. Being a New Zealander is no longer special so why stay or have loyalty if you’re not sorted!?
100% agree
Agree me to.
jay11 I am 61 and am actively looking to move to Australia within the next 6 months. NZ is no longer a place I grew up in. Greed, racism and elitism with this current government has me believing that the years I have left on earth would be one of stress and needless cost increases. Looking forward to the new warmth on my back and a progressive government.
Having spent the last few weeks in hospital fighting cancer we would have no health system without immigrants. The staff can choose anywhere in the World to take their skills and under National or Labour they choose here so it cannot be that bad a place to live .
With 2 children in Australia that I visit regularly their pro lems are the same as ours but they. do get better pay in some areas.
Many who go there findcit hard with no family or friends to help out .
NZ was a wealthier country with a smaller population, then the pommes arrived on mass and look at us now, we are a much poorer country for it.
History is that those that states this construction were overwhelmingly commie so we later arrivals just add to the mix
History tells us that the English arrived and stole the land from the Maori, you are English aren’t you Trevor?
The poms coming around the 50s and 60s added a lot to NZ life. And all immigrants would do so, if the fast boys weren’t trying to rort us at the same time we are trying to pickpocket them to get their money.
rop the BS and limit immigration and the ability of foreign corpse and wide-boys to buy our assets and be lauded for ‘investing’ in NZAO; export the pollies who have been infected with monetarism and class pretensions to the country of the infection origin, the symptoms of which are excluding human values and respect and practical not theoretical economic base, and hey presto, magic, we’d have a country reforming before our eyes.
Good luck with your health, Trevor.
Why? Because you can buy more when they’re cheaper.
Willis huge arse is now squashing the squeezed middle idiots .
National/coalition doing a grand job, something Labour were incapable of.
Bob troll.
National doing a grand job of ruining the country, something Labour were incapable of.
“We would have no health system without immigrants.”
That is because all our nurses have fucked off!
I teach English to migrants and I know that many of them use employment in New Zealand as a step to migration elsewhere. That is precisely why Australia restricted migration from New Zealand.
Correct stay long enough to get a NZ passport them the bugger off.
Yep, thats true. The work-to-residence category, then PR. Altough I think some on the professional list are given PR up front on arrival. Even with PR I think there are still restrictions on residing permanently in Australia but once that restrction is over you’re good to go. Good luck to them. The grass is greener on the other side so they say, but I’ve known some who’ve gone to Aussie and returned. Not any nurses though.
Yes, gordon walker and that is why the bald one quickly sold a few of his properties.
The housing market in NZ is displaying a very normal trajectory for an asset bubble. Prices and the total amount of private debt held, both grow. At some point the total amount of debt – mortgage debt in NZ – hit’s a ceiling. And the market participants can’t borrow any more – immigration can offset this but when that slows …
So house prices are now falling. Is this an economic mistake by the government – I tend to think not – these are intelligent people advised by even more intelligent people. So we must assume that they have economic intention.
One thing that Willis wants to do is lower some of the lending constraints that are preventing large scale property owners from growing their portfolios.
There is coherence to what the government is doing – when you look at other economies like the US, UK and Oz – the consolidation of assets into fewer hands – how would you do that if you were in government?
1. Engineer a recession and higher unemployment to cool the housing market.
2. Decrease capital controls for asset rich market participants to access housing stock.
3. Sell off public housing stock to the private sector to increase supply.
4. Allow house prices to drop and allow large scale purchasing of property by developers and landlords.
By the end of the process a large transfer of assets will have taken place. Job done. Thank you.
House prices are falling because more people now understand that NZ’s long-term economic future is very bleak (irrespective of Labour or Nats being in Government).
People buy a house for one of two reasons – to live in, or as an investment – sell for a profit, or be a landlord.
If you buy a house to live in, you have to be able to pay the mortgage – that means a secure job, and one that pays enough to do so. High unemployment and economic turmoil makes that a risk.
Investers fear that they might not ‘find a bigger fool’ to sell to at a higher price for a capital gain.
Being a landlord is not paying much as it used to, the rate increases are hurting, the renters have more choice and there are fewer off them because the young are leaving NZ.
But I thought your right wing government had fixed everything and killed off the woke, why are people fleeing David, Winston and Chris Luxon?
jesus Ada are you saying that national have fucked up the country best you rush off to the last remaining hospital for a checkup before they close it .
” Being a landlord is not paying much as it used to, the rate increases are hurting, the renters have more choice and there are fewer off them because the young are leaving NZ ”
My heart bleeds.
Landlords with a few exceptions are just like real estate agents and property managers.
Vile , unscrupulous , greedy parasites.
And are being given our hard earned tax money , future pay increase now obliterated to enrich them further.
Landlords don’t pay for rate increases, tenants do…Jesus wept Ada.
The race to the bottom is increasing and the collapse of capitalisim is around the corner .
Young people will return when the housing is affordable or we become another Aus State.
trump will give Luxon a golden ticket to alaska or siberia or make him governor of Gazza in return for us becoming a USA milliatry base
No they won’t. They’re gone for good.