Welcome guest, is this your first visit? Create Account now to join.
  • Login:

Welcome to the NZ Hunting and Shooting Forums.

If this is your first visit, be sure to check out the FAQ by clicking the link above. You may have to register before you can post: click the register link above to proceed.

DPT Black Watch


User Tag List

+ Reply to Thread
Page 1 of 22 123456789101112131415 ... LastLast
Results 1 to 15 of 320
Like Tree424Likes

Thread: DEPOSIT FOR A HOUSE 40%

  1. #1
    Rob von tempsky fan's Avatar
    Join Date
    Apr 2012
    Location
    Te Puke
    Posts
    865

    DEPOSIT FOR A HOUSE 40%

    With new regulations from the Reserve bank for all banks in NZ to need a 40% deposit from September for a house not only in Auckland but country wide hopefully will cool off the property market and stop speculators and Investors . But how is the Govt helping 1st home buyers?

  2. #2
    Member HNTMAD's Avatar
    Join Date
    May 2014
    Posts
    1,857
    If I read right 40% was for those who had investment properties?? Still 20% for owner occupied??

    Sent from my E5823 using Tapatalk
    tetawa and nzfubz like this.
    Hamish
    027 5422 985
    www.hgd.co.nz

  3. #3
    Member nzfubz's Avatar
    Join Date
    Sep 2012
    Location
    Christchurch
    Posts
    885
    40% only for investors. Investors are categorised if you are making an income from the property not if you are living / paying mortgage.
    Diligentia, Vis, Celeritas

  4. #4
    By Popular Demand gimp's Avatar
    Join Date
    Dec 2011
    Location
    The Big H
    Posts
    7,871
    Read And Understand First

  5. #5
    Member 199p's Avatar
    Join Date
    Dec 2011
    Location
    Palmerston North
    Posts
    3,072
    The said on stuff ( i know its probably wrong ) investments are going 40% and 1st home buyers was dropping to 5% percent.

  6. #6
    Semper excretia Ryan's Avatar
    Join Date
    Nov 2012
    Location
    North Island
    Posts
    6,219
    Quote Originally Posted by 199p View Post
    The said on stuff ( i know its probably wrong ) investments are going 40% and 1st home buyers was dropping to 5% percent.
    I don't think so.

    Quote Originally Posted by Stuff.co.nz
    On Tuesday the Reserve Bank launched proposals which would mean only 5 per cent of lending to residential property investors could be to borrowers with less than a 40 per cent deposit.
    199p likes this.

  7. #7
    By Popular Demand gimp's Avatar
    Join Date
    Dec 2011
    Location
    The Big H
    Posts
    7,871
    Quote Originally Posted by gimp View Post
    Read And Understand First
    emptyquotin' myself

  8. #8
    Member
    Join Date
    Jan 2015
    Location
    Nelson
    Posts
    959
    I just don't see it helping with house prices? I can see it helping the banks if the market fell over and I can see it helping new builds to keep booming.

  9. #9
    By Popular Demand gimp's Avatar
    Join Date
    Dec 2011
    Location
    The Big H
    Posts
    7,871
    Lowers banks exposure to higher risk investor debt, disincentivises property investment slightly to reduce demand (slightly)


    probably won't do much

  10. #10
    Member
    Join Date
    Jan 2015
    Location
    Nelson
    Posts
    959
    It sounds to me that the RB is shit scared the market is going to collapse and don't want to be left with loans larger than the house value? On the other side they are happy with the home owner at 20% deposit as they aren't likely to sell if the market goes south, which may be the case but they will still end up with a loan worth more than there house value and that's when things get interesting.

  11. #11
    By Popular Demand gimp's Avatar
    Join Date
    Dec 2011
    Location
    The Big H
    Posts
    7,871
    Investors are more likely to default, and more likely to own multiple properties, greater exposure in the event of a uh, market correction.

  12. #12
    Member
    Join Date
    Nov 2012
    Location
    BOP
    Posts
    16,707
    But the 40% can be equity in other properties, no investors = no rentals? The govt shouldnt be building up their state houses in my opinion, I think it should be private, but without capital gain and the exposure to having your house wrecked with no recompense, if your not making a decent return out of a rental, why would you want to be in the market? Ive rented houses and its a one way street in favour of the renter in my experience, its not an easy one to solve, a small correction in the housing markets OK but a collapse wouldnt be nice, banks dont cut any slack, but accept our money when they need a bale out! and remember the bank has the right to take your cash investments if they are failing!
    Boom, cough,cough,cough

  13. #13
    Member Steve123's Avatar
    Join Date
    Jan 2015
    Location
    What used to be Franklin
    Posts
    2,042
    Completely fucks up my plan of buying somewhere out of Auckland for a mortgage free retirement. Can't afford/wont pay what they cost here but now have to buy somewhere out of Auckland as a batch. So Rent payment and mortgage on top. And an empty house down the line I can't use coz I'm having to work my arse off up in this shit hole to pay for the fuckin thing. Not impressed when all they need to do is restrict sales to citizens only.

  14. #14
    Member Timmay's Avatar
    Join Date
    Dec 2011
    Location
    CNI
    Posts
    2,411
    These changes are a good thing, as long as they address the 39% of purchasing done by foreign persons.

    New Zealand to me means: clean, green, affordable, safe, and low population.

    All national seem to be busy doing is fucking that all up.

  15. #15
    Rob von tempsky fan's Avatar
    Join Date
    Apr 2012
    Location
    Te Puke
    Posts
    865
    The market needs correcting but the Govt's sitting on their hands , a survey of pms in march showed most of them are owners of more than two dwellings and in some cases multiple houses so they have had a great reason for doing fuck all for so long and now since the election is on the horizon the housing issue is suddenly an issue.
    IMHO the market needs to drop at least 40% as has happened in the past .
    veitnamcam and Steve123 like this.

 

 

Similar Threads

  1. Pigeons to house
    By Munsey in forum Trial, Pedigree and Bird Dogs
    Replies: 6
    Last Post: 07-05-2015, 07:12 PM
  2. Need a house
    By Azza in forum Off topic
    Replies: 2
    Last Post: 28-03-2014, 09:04 PM
  3. Play house / Wendy house
    By Munsey in forum Buy, Sell or Swap
    Replies: 13
    Last Post: 09-12-2013, 06:05 PM
  4. Every House needs one or the other.
    By Happy in forum Hunting Dogs
    Replies: 10
    Last Post: 25-10-2012, 08:00 PM
  5. Every House needs one or the other.
    By Happy in forum Dogs
    Replies: 10
    Last Post: 25-10-2012, 08:00 PM

Tags for this Thread

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
Welcome to NZ Hunting and Shooting Forums! We see you're new here, or arn't logged in. Create an account, and Login for full access including our FREE BUY and SELL section Register NOW!!