Affordable Houses- Common sense at Last

There has been a spate of stories in the media lately which frankly were poorly researched and designed to be sensational. Stories about houses selling for huge amounts over CV’s with sellers pocketing small fortunes make good reading but simply do not reflect the real market. Sure there have been some great sales and prices are under pressure in many suburbs but there are still plenty of homes available at prices that the less affluent can afford if they work hard and don’t drink or gamble their wages away. It was so in my young days and nothing has changed since then. I worked as a labourer on the wharves ( I still have have my “seagull” pass), house painter, car washer, paper boy, shop assistant, gas station attendant, musician as well as study just to scrape together a deposit. It took years and our first house cost 4000 pounds on 1000 pounds deposit. ( about $350,000 today).

Today’s refreshing article by the Herald shows that it is still possible to buy a home so long as expectations are not set too high

Less pricey suburbs draw the buyers
By Alanah Eriksen
NZ Herald 28.7.12

Reluctance to buy homes in Auckland’s less glamorous suburbs is disappearing as the areas replace the more picturesque North Shore and city spots as the most in-demand locations to buy.

A housing shortage and less money in wallets has pushed home buyers to the city’s west and southern fringes, and the the time it takes to sell a home in these areas is reducing.

Houses in Upper Harbour were the quickest to sell this time last year at a median of 23 days.

But now it takes an average 37 days to sell a house in the suburb, which has a median house price of $521,000.

The increase in time-to-sell is the biggest in metropolitan Auckland, Real Estate Institute figures show.

Homes in many city and North Shore suburbs are taking longer to sell than they did in June last year, while those in southern suburbs such as Papakura and Manurewa are moving almost twice as quickly as they did a year ago.

Western suburbs such as Henderson and Titirangi are also having a sales boom.

Read the rest here:

http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=10822761

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