In my case, 16% is fixed, the rest is factored upon the QV/RV.
jan2242,
Jan 2, 7:11pm
A friend recently bought their new home. They are retired and bought it for less than other offers. The sellers wanted it to stay a home, not a rental, so they got it.
apollo11,
Jan 3, 12:39am
House prices crashing would be political suicide.
oh_hunnihunni,
Jan 3, 9:17pm
I am still waiting for all those cliff edge mansions to be declared a danger to shipping and uninsurable.
But I aint holding my breath. As apollo points out, political suicide seeing the power lies with the monied and always has.
trade4us2,
Jan 3, 10:22pm
Since my cliff edge mansion doesn't have a mortgage I will just find an insurance company who is happy to exclude cover for sea inundation. Because I am happy to pay to mitigate the inundation that might happen in about 400 years time.
oh_hunnihunni,
Jan 3, 11:59pm
Doesn't take inundation to erode a cliff. Stay safe there t42!
dave1970,
Jan 15, 1:11am
I think the rates system is so unfair. Single male living alone should pay less than the 3 adults and 7 kids across the road imo. Put out rubbish bin once a month, recycling even less, i hate wasting water but neighbours empty and refill their pool once a month,1 car for me 4 for them, should have a user pays system (i know you thinking water rates are, but thing is we have no water rates where i live). Single income v 3 incomes same rates payment.
budgel,
Dec 21, 10:20pm
I heard an interesting factoid on National Radio yesterday. With the huge increase in property prices over the last year, NZ houses earned more than the people who lived in them!
Great if you are in the market, not so much if you are trying to get in!
trade4us2,
Dec 22, 8:59am
My old house is going up about $200,000 each year, which is more than I ever earned. I may have the house revalued to half the price so I pay less rates.
budgel,
Dec 22, 10:21pm
Your rating valuation is determined by your council or its contracted agency such as QV, so I dont think your input will change that. My son recently bought his first home which had a long settlement date because the tenant had to be given notice. It was estimated that the value had increased by $50,000 in that time.
johvri,
Dec 22, 11:05pm
Wow I'm guessing this will change at some point. this won't help if you want to retire though.
reasonable,
Dec 22, 11:49pm
So how's this affecting house insurance ?
I reckon there's loads of people who own a home who are under insured & don't realize it
jkp58,
Dec 23, 4:07am
The value of the house has nothing to do with the insurance its the cost of rebuilding the house thats important
lakeview3,
Dec 23, 4:29am
This whole economy is ‘functioning’ and I use that term VERY loosely, on the jacked up house prices.
Unless the govt does something radical, the can will keep getting kicked down the road for about another 10-15 years until the people with all the wealth no longer have any influence and then my kids and grandchildren along with everyone else the same age and younger will be left to pick up the pieces.
The whole thing disgusts me.
oh_hunnihunni,
Dec 23, 4:53am
There was a sale recently, where the seller took a lower offer in order to put a young first home owner family into their home. So, it is a choice.
How does the government act against human greed?
trade4us2,
Dec 23, 5:02am
My house is 50 years older than the Council thinks. The section is very steep at the rear and is subject to slips. The property is shown as being in the "flood zone". Does it have any value at all?
tegretol,
Dec 23, 6:11am
Who was that estimated by? - a Real Estate Agent?
tegretol,
Dec 23, 6:12am
Basic economics and history says that it'll crash long before that happens. Even the banks are now getting nervous about lending on rentals - in my view the big crash is imminent.
apollo11,
Dec 23, 7:01am
The govt (because banks) won't let it happen. There is a queue of foreigners waiting outside NZ's door. They will just let the foreigners in to buy everything up.
lakeview3,
Dec 23, 7:05am
except they aren’t operating under the same rules anymore. They are printing money like there is no tomorrow and judging by people’s behaviour, the last year has taught them nothing.
Most people are living beyond their means, as are local councils and the government.
It’s irresponsible and disgusting and no wonder our youth feel like they just want to live for today, because there’s not really a whole lot to look forward to is there? And who says they care about people’s mental health? Pffft. If they want to help Joe Bloggs then FGS get the cost of putting a roof over ones head down.
tegretol,
Dec 23, 7:38am
Agree but WE produced this generation that you speak of. Speaking for myself, none of my kids fit this category but I agree that the majority do.
smallwoods,
Dec 23, 6:46pm
LOL, doesn't work this way unless the council have a value based system. If everyone's value goes up, you still pay the same rates. A fair portion is per unit or pan anyway.
smallwoods,
Dec 23, 6:49pm
This happened to a friend in Hamilton. She couldn't afford what the others were offering, so the seller sold it to her at her price. Was quite a few thousand less, about $20.
funkydunky,
Dec 23, 7:34pm
There was a sale in Pt Chev recently which was featured by Oneroof (The NZME property spruiking arm). A very ordinary dated bungalow on a site too small to attract interest from developers. It sold to 'family buyers' for 2 million. I don't know the personal circumstances on the 'family buyers', but if they had a minimum deposit and needed a mortgage, then a bank has lent them roughly $1.5 mil on an 'asset' which is going to require further capital input.
pcle,
Dec 23, 8:42pm
Debasing the currency has that effect on the price of real assets. The pretty paper is worth less and less each day. Swap it for something real as fast as you can.
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