tag:blogger.com,1999:blog-11906042.post5787113154104127698..comments2024-03-30T00:09:27.602+13:00Comments on Not PC: Housing market a regulatory disasterPeter Cresswellhttp://www.blogger.com/profile/10699845031503699181noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-11906042.post-64217317875263205242015-11-26T12:49:24.501+13:002015-11-26T12:49:24.501+13:00"Nobody can advocate policy until we know wha..."Nobody can advocate policy until we know what exactly is going on."<br /><br />Comrade by time the clowns in Wellington get lucky and work out what is going on and reacts the market changes. <br /><br />Council restrictions on land cause price increases but don't explain the massive spikes in prices over the last 3 years. <br /><br />The credit pouring into the market, for a range of reasons, does explain the spike. <br /><br />Anyway if house prices in Auckland becomes affordable ("affordable" a politically correct word) for whatever reason then the banks are all insolvent. <br /><br /><br />Simonnoreply@blogger.comtag:blogger.com,1999:blog-11906042.post-32319973457066250852015-11-26T12:28:26.099+13:002015-11-26T12:28:26.099+13:00There are 20,000-30,000 empty houses in Auckland d...There are 20,000-30,000 empty houses in Auckland due to foreign & domestic speculators. The biggest regulatory failure has been the government refusing to find out who is buying the houses. Nobody can advocate policy until we know what exactly is going on.Paulnoreply@blogger.comtag:blogger.com,1999:blog-11906042.post-75252361264201880442015-11-26T10:16:19.876+13:002015-11-26T10:16:19.876+13:00shame to see the shallow nimby/heritage thinking h...shame to see the shallow nimby/heritage thinking here.<br />Auckland has plenty of already zoned apartment (and tce) zoned land - and has for 20years, the kningslands, gt North road etc. Some have started being more developed but still only a fraction of it used so far, without need to expand into suburban areas.<br />Auckland is already an intensified city by world stds, and tearing down a 4-5 bedroom villa for 2x 2 bedroom terraces does nothing except increase cost of housing.<br />Debate is at superficial number of houses level - real impact is at bedroom level. Auckland grew by 70,000+ last year - and they're all sleeping somewhere. We have huge capacity in existing housing stock, and what people and the market respond to ie elderly selling and freeing up capacity.<br />The real affordability isn't around accommodation - you can buy huge numbers of cheap apartments, it's around a style of housing people want ie the existing suburban backyard style - exactly what council wants to stop. So where competition drives up prices. Apartment prices aren't moving by anywhere that level - the market working and saying what it wants more of. <br />So issue is Council stopping the market delivering what people want.<br />Their insistence on protecting wealthy life style block owners (like Phil Goff) is at the root of the problem.<br />the other and bigger element is the credit boom flowing on from overseas and their money printing presses Anonymousnoreply@blogger.com