标题: +++++++++Ten reasons why house prices have 10pc to fall++++++++ [打印本页] 作者: 呼啸寒风 时间: 2010-8-9 17:46:26 标题: +++++++++Ten reasons why house prices have 10pc to fall++++++++
1. The cheap foreign credit has dried up 2. Home loans remain unaffordable for most in the bigger cities 3. New Zealanders are migrating to Australia again 4. The property tax changes are hurting more than expected 5. The developed world is deleveraging from property bubbles 6. NZ households have hit debt saturation point 7. Our debt is relatively high compared to many others 8. Rents are not increasing in most places 9. Banks face even more funding pressure 10. The baby boomers will start selling down their houses and rental properties to free up cash
interesting points:
New Zealand's house price to gross income multiples are still well above historic norms and those of other countries such as Britain and America, albeit not Australia
The wage gap between Australia's average weekly earnings and New Zealand has blown out to NZ$643 from NZ$565 in the last two years.New Zealand wages are now on average worth 60 per cent of the Australian equivalent, down from 66 per cent two years earlier. The likely reduction in non-New Zealand immigration to Australia after the upcoming Australian election will intensify the pressure for New Zealanders to migrate to Australia.
Property tax changes are having as big an impact on property demand as a 100-150 basis point increase in the OCR
Rental growth remains significantly below inflation and has stubbornly remained less than growth in house prices. Landlords looking to increase rents more than wage growth have consistently failed
Bank for International Settlements estimates real New Zealand house prices could fall more than 35 per cent over the next 40 years as a growing population of elderly are forced to sell assets to a smaller population of younger people作者: 光芒 时间: 2010-8-9 17:50:48