403 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
12 days ago

What's one highway or road that needs attention?

The Team from Neighbourly.co.nz

We've all been on a summer roadie and experienced first-hand the state of our roads.

If you've ever been stuck in a summer traffic jam, had near-misses on dangerous turns or feared for your life on clifftops (while the car behind you is tail-gating!) - you may have an opinion on this one.

Tell us what main road or highway you think needs some serious attention across the country, and why!

Image
1 day ago

Show us your projects

The Team from Neighbourly.co.nz

Whether it's craft, haberdashery, woodwork or upcycling, we'd love to see what you've been working on lately.
You may even spark someone else's creativity...

Tell us about your current project or show us a picture in the comments below...

Image
1 day 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