Gangster Areas of Papakura - who has a good knowledge ?

[Dood]

where?

Hi

thanks, my gut feeling is telling me not to go there.

Ok, so here's a question. If you had $600k where would you buy?

Thanks

A home and income in manurewa

[Frezzinghot]

Home & Income, somewhere in Auckland, or something with sub-dividable potential in good school zones and future growth potential areas.

FH

[Dood]

Home & Income, somewhere in Auckland, or something with sub-dividable potential in good school zones and future growth potential areas.

FH

Remember the amount given is 600k. Your comments above would be the ideal for many people but you havw to work within the budget constraints

[Damap]

It has always been a bad part of Papakura, no sign of gentrification yet. You are better off further towards Rosehill or more towards Takanini.

[Frezzinghot]

Remember the amount given is 600k. Your comments above would be the ideal for many people but you havw to work within the budget constraints

Agreed but some still out there to be purchased, even in auckland!

[Frezzinghot]

How about Sheeham, I guess this street is pretty close or in these troubled area's.

I could potentially be looking at a 3BR + garage on full site for 150k to 160k.

Rather than do a hold, if the price is right after my DD, maybe a few K on cleaning and paint, could provide a quick flip opportunity up to 180 - 185k.

Seems more liquidity in the market from Feb, the old cosmetic do-up and sell tactic might be on the cards again (Quick 10 day do-up)

This quote from back in 2009, I wonder what you could get 150k now down there! More like 400-450k right now.

FH

[jdiie]

hi is sheehan ave and smith place a good area for first investment? we are looking at those two places and they are both tenanted thanks heaps

[Bobsyouruncle]

Historically, (thread is 7 years old), they were not good streets. These days they are fine. NOt A grade for Papakura but you'll have no problem keeping them rented.

[Bluekiwi]

Historically, (thread is 7 years old), they were not good streets. These days they are fine. NOt A grade for Papakura but you'll have no problem keeping them rented.

Good point, if you had bought in all these gang area's including the gang triangle around Solvieg etc, you would be mega rich.
As the traditional gang area's of south Auckland have been gentrified to a certain extent as the Auckland house prices went up and forced out these little pockets.

Little box's that no one could sell for 150k to 170k are now worth 550k over say a 7 year period !!!!!!!!!!!!

Who says you need to go for either yield or capital growth.

Clendon Park has probably had the best capital growth of all Auckland.
I remember when cross leased box's were 130k and I bought one for 170k, and 3 more for around the 230k mark.
Thought I was smart selling them for 330k and now they are worth 450 plus.

[eri]

And Mark O'Brien of Karaka Centre Ltd, which owns an Special Housing Area that was earmarked for 200 to 300 new homes on the north side of Hingaia Rd next to the Papakura motorway interchange,

said the housing was planned as part of "a Sylvia Park" shopping mall which was refused council consent.

"The council is terrified about any impact on the Papakura town centre," he said.

He said the land would now be available for lighter commercial use and would "just develop organically over time".

http://www.nzherald.co.nz/politics/n...ectid=11722401

[Davo36]

I saw that eri.

Is a bit of a worry to me as an owner in the Papakura CBD area.

I wonder what this really means: "He said the land would now be available for lighter commercial use and would "just develop organically over time"."

[eri]

they are planning on a large light industrial area, east side of straight just south of drury

but it'll take them years to finish as they haven't even started

maybe he's reckoning on some short 5? year light industrial rentals at a karaka business park as industry moves out of the expensive land at penrose? on their way to drury?

once drury is finished he can judge again if it's worth going back to council for consent for his mini-mall?

the big mall at whenuapai is struggling as they built it too soon

[Frezzinghot]

I think a mega mall out Karaka would be great, you have pukekohi, waiuku, pokeno, and Drury all growing so I think a mall in this area would be very central. Takakani can't get any bigger at the moment.

[Bobsyouruncle]

And Takanini doesn't have any character or a good feel, it's so industrial and kind of yuck mostly.

[Frezzinghot]

Yes agree, sort of trying too hard to be the new hub. Start with a big green field and build somewhere people want to go.