LEVIN KAPITI to Wellington PROPERTY REPORT

The Property market in the Horowhenua is down and in no way compared to Raumati or Kapiti where properties are in demand due to commuters to Wellington. Not so in Levin which basically is just drawing in retirees but certainly no business people.

Banks are enforcing high fees for home-owners to roll over their fixed term loans--April- May 2010

Levin New Zealand a town has lost everything due to the disregard by councillors and now we may even lose the racecourse training facility due to costs and trun part into a retirement home for the elderly. How Realtors & valuers can inflate figures for houses beats me but as goods and service costs keep climbing and the household costs soar we are being inundated with property auctions that are a joke trying to get the highest possible price for s house that is not even worth it. How does one justify a $60,000 home thats now $300,000??? Well its simple we have inflated the market to far beyond our imagination & now properties are beyond any average Kiwis pocket. Realty agents want as much commission as possible and the valuers if they cvalue a house high can command a good cut for what thery say and so it goes on. The Councils are over the top on staff and resource consents and paperwork thats costs and so it goes on.

But not so for the immigrants who are in the queue waiting to bring in funds and buying everything up for whatever. The UK immigrant can buy a bargain here and even a shop and a couple of houses in NZ by selling one house in the Uk. Better lifestyle money in the bank and you have Chinese and Indians flocking as well. Yet the Kiwi can't see this as the problem. Opening the doors has lead to unprecedented speculation and properties are now too high.

Horowhenus real estate is up and down and nothing really is moving.Also the new budget in May 1st and tax changes people are not buying because of the investment tax situation. Top end sales over $500,000 increased in march by 11% but low priced home make up 30% on the market for sale and not selling as people are scared and rightfully so as interest rates will increase for sure.

WHAT NZ NEVER LEARNT WHEN IT OPENED ITS DOORS:

Before NZ allowed overseas migrants to arrive it should have put in place measures to protect the Kiwis & NZ at the time. Again I refer to Thailand and how this country was not affected by the subprime crises and who got thru OK to still be a powerful manufacturing base for world companies. Heres what we should have done then. Migrants wishing to come to NZ and open companies must have 51% Kiwi ownership in their companies. They cannot buy land under there name hence preventing rampant speculation which resulted in subdivisions by many overseas migrants and houses at inflated prices as it is today. Instead we should have put into place where migrants can only own 1 acre of land but must invest $1m in their housing etc on this land-- they then own this land outright. We see today Hollywood buyers are buying South Island stations at any price?? again inflating valuable land in NZ. Again Thailand only allows 1 rai or 1/2 acres and has succeeded in safeguarding their people. It now meant foreigners can not speculate on land unless they have a Kiwi partner and director and then keep the money for themselves. It also kept the properties at a reasonable price and stopped the escalation of goods and services like plumbers etc asking exhorbitant hourly rates. Look at any Chinese family or market gardener in NZ-- they only employ their own?? There would also be no need to have so much red tape, and the departments that have been created that brings nothing into the economy. The status quo is maintained and the government would not be in deficit as it is now. BASICALLY WE HAVE PRICED OURSELVES OFF THE MARKET AND THERES NO STOPPING UNLESS WE HAVE A DEPRESSION.

NZ on the other hand opened their doors using such excuses as we need the expertise etc and to stimluate growth. Thus tradesmen went to Australia and things started to spiral. We opened our doors and allowed not just rampant speculation and allowed amny into our country even refugees that others wouldn't take who also give back nothing. Their is no return until a depression comes about to start things off again and this must happen. Now what many Kiwis are unaware of is that those from USA and UK etc also brought with them expensive vehicles, antiques and collections from art to coins to jewelry and could now use these convertible assets to gain more funds theyt wouldn't have got in their own countries. Now think of a UK family bringing in 2 cars: one a Jag and the other a Ferrari. Sell the Ferrari and you have enough money to buy a house or near off another house. The govt never even saw this until once again everyone got on the bandwagon and cars, trucks etc were purchased overseas and we were flooded until the doors closed in 2008. In the meantime these immigrants start companies and keep their money and only employ as when necessary but its does nothing for the average New Zealander.

BORROWING FORMULA:[ HERES AN EASY WAY ]

Still in mortgage mode for 35,000 people

Levin is on the main  truck line & is close to Wellington, has some of the best horticulture in NZ but its losing itself to a Council that’s absolutely useless and greedy landlords who cannot see further than their $$$ per week. Look at shop rentals in Oxford St ranging from $400 a week to start & for one restaurant that only opens at night from 5-9pm. No wonder businesses are closing their doors as landlords want more and more rent and terms that tenants cannot even comprehend. There is no going  back unless of course a depression hits then Work & Income will be the biggest business concern dishing out the benefits on Tuesdays as per the norm now. Theres no jobs and the cost of building a house will see more layoffs as builders compete. 2009 the Crown had to make $2 billion worth of tax refunds to companies, approximately twice that of 2008, while personal tax refunds were also up 15 per cent so in 2010 with many companies running at a loss and the likelihood of a capital gains tax things can only get worse with rentals increasing per week & the likelihood of small businesses clsoing shop.

Properties have gone nuts once again up 5.5% to greed & escalated making it impossible for young people to be able to save as the power companies this month increased their retail fees and it just keeps on going. Now the small hospital needs to reduce its expenditure so we can see that being downsized yet again and of course you have the ex Kimberley patients running around the town on the loose. A great combination which does not attract those wanting a place to do business or even retire to.

Levin is not attracting anyone as fewer homes are being sold compared to other centres and the asking prices are well below the likes of Waikanae, and the Kapiti coast. After 6pm at night its a guost town and only has fast foods left with never anyone on the unattractive streets ---Sunday is even worse--go to Otaki or Wanganui & see the difference??? The town of Levin is dead in the weekends and the old Councillors still getting their monthly pay checks don’t want to rock the boat and lose their easy salaries. The Levin main street is not even nice to look at as one drives through--look at Wanganui??? and see the difference you councillors. The Levin Council even has a CEO I believe is on $150,000 a year + percs for what and cannot even balance the books and they have a deficit of millions but a nice big building to sit in and only 35,000 constituents that are presumed to be zombies. Now this Council needs to focus on dropping salaries –booting a few staff, dropping the number of beds? stream lining building consents & red tape (well I know the PM said he would drop a few of the Council rules and regs but he's in power now & doesn't want to risk his reelection--hey that figures).

NZ companies are moving from Levin & theres hardly any left now!!!!!

[ Borrowing Guide $$$ from your Bank ] [ Property Report June/July 2010 ] WHY ARE MANUFACTURERS & BUSINESSES LEAVING NZ: [ Read the story ] The issues are economics nothing else and many a time the owner is blamed for moving when in fact he has no say in the matter otherwise he will go bust. However read the reasons why NZ has lost the plot ---[ Compare to Thailand ] & why more factories are heading abroad now. It makes sense.[ Check WHY THAILAND ] is better for Manufacturers & any Kiwi Company. Why NZ is lost [ NZ Deficit increases ] Yes we owe money????? [ Government $250m a week borrowing ] [ Kiwisaver ] [ Kiwisaver good or bad Providers ] [ Transmission Gully Impact costs ] [ NZders lose out ] [ Electric Power Increase ] [ Benefit cuts good or meaningless ] [ Family budget ] [ Quit smoking-heres how ] [ Truck panel & Paint ] [ World population exploding ] [ Retirees new visa over 65 ]

"Horowhenua District Council needs a reshuffle to survive as Levin is dead "

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