Housing boom not good for everyone

The downside of this is that here prices have edged up too, the median price in Masterton now being $235,000, a 7 per cent increase on the same six months of last year. FILE PHOTO

On balance, news that house sales in Masterton are booming is good news.

I say "on balance" because there is a downside to the news too, but I will get to it later.

It seems the MyMasterton campaign is working in its quest to attract more families to the town as in the six months from May to October this year 223 houses were sold compared with 161 in the same period last year.

Without taking anything away from MyMasterton which has obviously made an impact on the real estate front it would be fair comment to add the outrageous prices being demanded in Auckland has resulted in families looking elsewhere, including here.

It is beyond the pale to expect families, especially those with young children or trying to get a footing in life, to pay the prices Auckland is asking and to make matters worse it is clear the houses being put on the market in our biggest city are, in most cases, not simply being sold one family to another.

Auckland has for years been the hunting ground of speculators who, by their actions, have created a false economy and it is surely only a matter of time before the deck of cards situation created comes tumbling down round their ears.

I venture to suggest some of the property speculators pushing up house prices in Auckland wouldn't know anything about the city and its people and, what's more, hardly care as long as the bank balance keeps ballooning.

So Masterton and probably many other provincial centres are getting the reward by attracting those who have had enough of trying to cope up north and are pulling up stakes to join our community.

The downside of this is that here prices have edged up too, the median price in Masterton now being $235,000, a 7 per cent increase on the same six months of last year.

Still cheap, of course, for the Aucklanders who make their way to Wairarapa but not such welcome news for the young families here who have been saving to get into their own homes. At the end of the day though, the hope is those coming in will bring skills and/or business expertise to help with bolstering our economy and perhaps adding jobs.