Re:Senior Google exec opposes remote work, moves to New Zeal...
by EdwardDiego on Thursday July 08, 2021 @06:43PM
(#27778538)
Housing prices don't ever stop here, a lack of CGT and aggressively lending banks means a very unhealthy amount of capital ends up in residential real-estate.
My wife and I bought a 1950s, 5 bedroom house 30 minutes north of Christchurch for $520K in 2018. Estimated market price is now $640K. Not bad capital gains in two years... ...not that we're selling until some kids move out of home.
Prices have also been pushed up by expats with considerable purchasing power fleeing Covid, and supply that is very far behind demand.
There was something like 1 million Kiwis living overseas before Covid, which is 20% of the population here.
My wife and I bought a 1950s, 5 bedroom house 30 minutes north of Christchurch for $520K in 2018. Estimated market price is now $640K. Not bad capital gains in two years... ...not that we're selling until some kids move out of home.
Prices have also been pushed up by expats with considerable purchasing power fleeing Covid, and supply that is very far behind demand.
There was something like 1 million Kiwis living overseas before Covid, which is 20% of the population here.