Prices seem to be on everyone’s mind, yours, mine, the Reserve Bank’s… But hey! At least in the myriad of incessant and unending stories about Auckland house prices, there are some meaningful updates on a number of policy fronts. Here are the stories that caught my eyes, take a look:
1. The on-going saga of the Reserve Bank vs Auckland housing market has entered into Act Two. Looking set to reclassify loans to property investors, the Reserve Bank has issued a consultation paper to that effect. If these changes come, they will spell an unfortunate denouement for most property investors. Submission close on the 7th of April. We have put in ours, you should too.
2. Meanwhile, Barfoot & Thompson has just reported its March sales figures at an all time high (ave. $776,729).
3. Looks like RMA reforms have been binned for now and top man John Key is not too worried about the effect this may have on (Auckland) housing supply.
4. Auckland’s 2014 General Revaluation seem to have been hit with a big bucket of cold water with Herald reporting on Sunday that some of the latest CVs are already out of date. Properties in Mt Roskill is already overshooting by 26% – what is going on out there?
5. The Salvation Army isn’t buying. Will property investors? The Government’s plans to sell down state houses (post-upgrade) is met with a healthy dose of scepticism by the New Zealand Property Investors’ Federation. All we can say is watch this space.
6. Irrespective of how you feel about Len and Auckland Transport for that matter, the City Rail Link project is gathering momentum. Some investors are already keeping a keen eye on the suburbs the rail link will transverse through and mapping their buying strategies for the coming years.
7. Still blaming the Asians I see…
What have you been keeping an eye on? Comment and share below!