402 days ago

Housing MInister Chris Bishop sets 'long-term' price target of three to five times household incomes

Markus from Green Bay

I VERY much doubt the economic competence of the new government. First Seymour wants to move massive amounts of money from poor to rich, now Bishop lives in cloud kuckoo land. Median income is $66,200 per year in 2023, so 50% earn less, 50% more (sometimes MUCH more). 3-5 times of that is $200,000-330,000. Even if they decide to give the land away for free you can’t build a house for that. And Bishop MUST know that. If they assume two full earners (aka the better off ones) it’s $400,000-660,000 for a house (including land) - which developer can provide that? So the government would need to build the houses - massively subsidised by the tax payer … which they don’t want to do.

So HOW can Bishop spout such nonsense???

From mortgages.co.nz...

In October 2023, BNZ published a report comparing New Zealand’s median section price, plus consented new-build cost, with the median price for an existing home each year. Using these median values, it has nearly always been more expensive to build, except for 2021-2022 when existing house prices rose sharply before falling again. As median building costs continued to rise into 2023 and 2024, building became significantly more expensive than buying an existing home.

More messages from your neighbours
7 hours ago

Create Your Own Mini Glasshouse

The Team from Resene ColorShop Henderson

Create a mini glasshouse environment finished in Resene Waterborne Woodsman Pitch Black to extend your growing season – perfect for early spring planting, hardening off seedlings and making the most of small growing spaces. Find out how to create your own with these easy step by step instructions.

Image
7 hours ago

The perfect Mother's Day gift is here!🌸

Mags4Gifts

Looking for a thoughtful gift for Mum? Give her something she'll enjoy all year round with a magazine subscription!

Whether she’s passionate about gardening, inspired by beautiful homes, or loves to keep up with the latest entertainment, you’ll find the perfect match at
Mags4Gifts.co.nz.

This Mother's Day, save up to 35% on subscriptions – perfect for Mum, Grandma, a special mother figure, or even as a treat for yourself!

Don't miss out – shop now and make her day unforgettable!
Learn More

Image
7 hours ago

🕵️‍♂️ Detective Mode ON! Can You Crack These Riddles? 🔍

Riddler from The Neighbourly Riddler

Two people are born at the same moment, but they don't have the same birthday, how?

Do you think you know the answer? Simply 'Like' this post if you know the answer and the big reveal will be posted in the comments at 2pm on the day!

Want to stop seeing these in your newsfeed?
Head here and hover on the Following button on the top right of the page (and it will show Unfollow) and then click it. If it is giving you the option to Follow, then you've successfully unfollowed the Riddles page.

Image