New Zealand - The Good, The Bad and The Ugly.

[Wayne Potgieter]

It's one of those strange things in economics. If one person does it, it's a good thing. If everyone does it, does the same hold true ?

 

If one slashes the entire CBD office demand by 75%, so that 75% of the office space is no longer needed, stands empty and the developers of 3 out 4 buildings go bust - passing the pain onto the banks holding the mortgage. Probably not a nice scenario to be in, and certainly won't be a pleasant neighbourhood to walk through at night.

Yeah, thats true to some degree.

 

Although one could make an argument for this being the disruption that is needed.

 

Shared or remote workforces mean a smaller degree of traffic and thats a good thing for most people, those building can hopefully create an opportunity for other projects and a lot of them will simply be repurposed into shared spaces.

 

I certainly would not want to be sitting on a heap of commercial property right now. Historically considered a fairly safe investment, now not so much. 

 

Interesting times...

[intern]

There-in lies the secret. I'm no real engineer, I am but a lowly CAD-monkey (or was once upon a time) with 2 half finished engineering degrees   

 

 

I actually did

 

When it previously wall mounted the TV, I needed a rough idea of where to feel my way around the back to plug in the TV aerial and network cables.

Brah when it comes to half finished degrees, I've been led to believe it's the second half you want to have in the bag.

Not that I have a degree. CAD monkey meet typist.

[intern]

This.

 

We had been looking at buying. Now we are going to sit back and watch for a little while.

 

Where we are looking in Port Hills CHC, we are expecting to see the prices reduce.

 

But now with the situation you outline, maybe a nice lakefront 4 bedroom place in Queenstown is on the menu....

 

Our company is going to get rid of its big $22k a month offices in Newmarket and encourage people to work from home permanently. We are looking to get a much smaller office with 5-10 desks on a rotation basis and a boardroom for client meetings. Basically a space about a quarter the size of what we had. This means that wifey and I (we work for the same company - Intern knows this) can work anywhere in the country for the same salary.

 

The renters with lumpy sums as yet uninvested in property are in the pound seats now. Though you do face currency risk and a devalued dollar with the largesse being dished out and just recently Grant Robertson saying 'banks have not met our expectations or those of small business' and making available low/no interest government loans to one of the riskiest customer bases.

[intern]

In a seriously crazy idea, would you still plan and put into action immigration to NZ?

 

Here's a ray of light. Emigration takes a really long time (unless you are hired by a firm that really needs you) so the planning and action can take a year or more. Getting your ducks in a row is a big and expensive job, so take your time with it, spread the cost, cover your bases (and something something more jargon) and then be ready to shift when the time is right.

 

You also make the time right yourself.

 

Of course, there is no denying that emigration is risky as a matter of course. It is now doubly so as we can expect a massive wave of unemployment which as WP says, will make it harder for emigres to find work.

 

Best of luck to you. 

[Wayne Potgieter]

I just saw "Port Hills" and instantly liked the post without the need to read any more of it, hahaha!

 

But yeah, when I lived there, the average house on my street in Huntsbury was around a shade over $1m.

 

But a $1m house there is 4 bed, 3 bath, architecturally designed, under 10yrs old, double glazed, seismically engineered and all that good stuff. Plus there's an awesome view of the city from up there, you're 400m from MTB trails (Rupaki, Crater Rim, and Bowenvale DH track), Victory Park MTB trails under 2km and less than 5km from the bike park. All within about 7km of the CBD.

 

It's pretty darn awesome!

 

Man, I'm getting jealous just thinking about it!

 

As for the dip in Central Otago house prices, I'm watching this eagerly too!

 

Unfortunately I can't work from anywhere, but if a nice property comes along for the right price, I'll be seriously tempted. Keep the Milford house, and do the Kiwi Boomer thing in 8-10yrs time (ie. sell the overpriced Auckland property and move to the countryside house, pay it off, and have a decent chunk towards retirement).

https://www.realestate.co.nz/3719134/residential/sale/4-pennine-way-huntsbury

 

This is nice...

[patches]

https://www.realestate.co.nz/3719134/residential/sale/4-pennine-way-huntsbury

 

This is nice...

 

     

 

This is seriously bad for me! I shouldn't look at your links! You have no idea how envious I am

 

 

AMAZING neighbourhood!

 

I used to live 1 street over at the little red X. The highlighted yellow part is an MTB trail that takes one to Summit road and even more trails!

 

And that price! Same thing in AKL would be double!

[intern]

https://www.realestate.co.nz/3719134/residential/sale/4-pennine-way-huntsbury

 

This is nice...

 

That's magnificent!!

[hayleyearth]

https://www.realestate.co.nz/3719134/residential/sale/4-pennine-way-huntsbury

 

This is nice...

My experience from my years of building Lego, I do not understand how people in NZ can get away with building houses (support walls etc) with those blocks all in one line. They don't overlap half-half. Surely it takes strength away from the build, especially in places that needs it where lands move distantly.

[intern]

My experience from my years of building Lego, I do not understand how people in NZ can get away with building houses (support walls etc) with those blocks all in one line. They don't overlap half-half. Surely it takes strength away from the build, especially in places that needs it where lands move distantly.

 

You get different types of bonds with masonry; the overlap is generally called Running Bond (with variations in the pattern including Flemish Bond, English Bond, Common Bond, James Bond, Bondi Blu, Bondi Beach, etc). When they are in a straight stack, they're called Stack Bond. Generally you'll find those are reinforced with steel ties - they are no less structurally sound than other bonds, but they do look weak to the slightly trained eye which expects the overlaps...

[intern]

All in all though, it's just another brick in the wall.

[patham]

My experience from my years of building Lego, I do not understand how people in NZ can get away with building houses (support walls etc) with those blocks all in one line. They don't overlap half-half. Surely it takes strength away from the build, especially in places that needs it where lands move distantly.

 

I know the simple overlap bond being Stretcher. I do not know the NZ building code, but maybe having a vertically stacked bond system for hollow blocks allows for vertical rebar and concrete reinforcement at strategic locations? 

 

But I was taught by my one master builder boss that the running bonds are always better for plain masonry. They also disguise minor imperfections in the laying / spacing process than having a visible rectangular grid. 

[intern]

I know the simple overlap bond being Stretcher. I do not know the NZ building code, but maybe having a vertically stacked bond system for hollow blocks allows for vertical rebar and concrete reinforcement at strategic locations? 

 

But I was taught by my one master builder boss that the running bonds are always better for plain masonry. They also disguise minor imperfections in the laying / spacing process than having a visible rectangular grid. 

Yep, stretcher (or running) bond is one of the easiest to lay. For stacked, you need a higher tolerance on the bricks or blocks to achieve that perfect vertical line...

[intern]

Source: Did some minor masonry work around my house, now consider myself an expert.

[patham]

Source: Did some minor masonry work around my house, now consider myself an expert.

 

Still more training than 99.8% of all expert opinions found on the internet. 

[Wayne Potgieter]

TIL about brick stuff.

[intern]

TIL about brick stuff.

 

You weren't paying attention Wayne. This is Bond stuff.