19-01-2022, 10:04 AM
(19-01-2022, 09:28 AM)reigns Wrote: The only spanner in the works here is property investors who hoard houses like fucking gremlins. If Christchurch has proven anything, it's that "MORE SUPPLY" means you end up with investors flocking to that market to snatch up the bargains, which end up driving prices up. Making houses cheaper is a good move but the Government has to do something about restricting investors if it truly wants to help out young Kiwi families and first home buyers.
Property investors have been baling out big time in case you haven't noticed. The government has hit them every way it can so many have simply given up. So what you have left is a shortage of rental properties driving rents up. The one thing that is in their favour is that the government has also driven house prices sky high so that selling has become even more attractive.
Bargains can only be snapped up if they are there. If there's a potential owner-occupier at an auction they will always over-bid investors.