$1,000 leasehold Auckland house – but it’s no bargain

Stuff’s asking ‘What housing crisis?’ as a leasehold property in St Johns is listed for $1,000. The writer says it’s “surely a bargain”, but obviously it’s not, otherwise the vendor would have been able to sell it at the original price of $10,000. This property costs $38,000 a year in ground rent, plus your … Continue reading $1,000 leasehold Auckland house – but it’s no bargain