“Small, one–bedroom apartments are selling for $800,000 and delapidated wrecks in barely desirable suburbs are fetching more than $1m. Expensive land, and restrictions on building new and denser housing, has seen limited new stock come on the market. And a strong economy, record net migration, especially to Auckland, and banks happy to lend money in a market with significant capital gains, has seen people paying over the top of each other. The savage competition in the market has also been blamed for growing xenophobic and anti–Asian attitudes. About 8% of the Auckland market are identifiable cash buyers and likely to be foreigners, while investors are 45%.”
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
Related posts:
Iran Ruling In Europe Blocking Sanctions Draws Anger From U.S.
Malaysian bloggers and politicians team up for ‘Internet blackout’
Boy, 6, gets detention for Lego gun on bus
Hacking ring made $100M trading by stealing corporate press releases
Judge: Bozeman police intentionally erased audio in excessive force case
Capt. Joseph Hitner Of LAPD Removed In Probe Of Michelle Jordan's Rough Arrest
Alcoholics who use marijuana have lower risk of liver disease, study finds
The price Gina Gray paid for whistleblowing through 'proper internal channels'
Korea decides not to recognize Bitcoin as real currency
Lawsuit: Multi-state voter registration database exposed partial SSNs
Russian Stocks Stagnate, but Moscow Exchange Shares Soar
Online market selling hard drugs, fake passports back up and running
Body cam shows dad had hands up when cops killed his 6-year-old son
Brunei Darussalam looks to a new stock bourse to diversify economy
Two-thirds of millionaires left Britain to avoid 50p tax rate