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Do you worry about how low lying Otahuhu is? It's very low. I like Otahuhu but needs to gentrify and hard to see this happening in a hurry. Some lovely properties there and good location.
Our first home back in the 90s was in mangere east because we couldn't afford elsewhere. As others have said, south of Massey and east of Buckland rd around gray ave and rosella is the better area. Has more home owners, working people and less state houses. In otahuhu the nicer looking area is around tamaki ave, Nixon ave. Sturges, and also otahuhu east, and my Richmond area where the spring park development is being built.
Otahuhu and Pkura both good. In fact right now everywhere is good but you have to watch the real heavily low decile school, high poly areas they get hammered in the downturns. I did really well out of Otara years ago but I would never go there again. Just too many tenant hassles and if you ever need to sell in a slump forget it!
Looking at the trend & following the market very closely I feel Otahuhu would boom upwards. Investors who were looking at other suburbs like mt roskil last year are now moving to otahuhu ,mangere east,mt wellington for next investment. Otahuhu benefits being very central,close to motor ways etc. The demographics are changing very quickly. Poor owners are taking advantage of the market today and selling out giving way to developers which will bring new constructions,new socioeconomic class & younger multi cultural families. Prices would only go up,look at the prices of terraced houses coming up on atkinson ave, otahuhu.
Last year most of the properties in otahuhu had an advertised price or were by negotiation but this yr all are going to auction, which means there is enough demand for them to even bother with negotiating ( cash sale or out you go; no conditions).
Most properties at the moment are by negotiation or auction, just gives the agent the ability to know what the market is willing to pay without putting a limit on it. If you wait until the bust list price will be the norm.
I am not sold on Weymouths growth, sure its next to the water but the general demographic is low income or welfare dependant, can't see much growth there in the short term.
rocket im with you on Otahuhu, I reckon those old villas will look smashing once all the traders and doer uppers have had a crack. As I have mentioned Weymouth is quietly holding its ground, my neighbourhood is getting full of home owners as investors sell up. Thats usually a good sign.
Just over on the next suburb Clendon by the water has some potential I reckon. I have noticed a bit of a blip on the prices - 3 bedrooms seem to have moved almost up by $100k in the past 2 years im sure (approx 16%pa). Again this is closer to the water Clendon. PS these are some very rough figures I am throwing together in between appointments. Others might confirm?
rocket im with you on Otahuhu, I reckon those old villas will look smashing once all the traders and doer uppers have had a crack. As I have mentioned Weymouth is quietly holding its ground, my neighbourhood is getting full of home owners as investors sell up. Thats usually a good sign.
Just over on the next suburb Clendon by the water has some potential I reckon. I have noticed a bit of a blip on the prices - 3 bedrooms seem to have moved almost up by $100k in the past 2 years im sure (approx 16%pa). Again this is closer to the water Clendon. PS these are some very rough figures I am throwing together in between appointments. Others might confirm?
Hamish,
Yes agree mate, Clendon and Weymouth have come along way. I was doing an Open Home in the weekend, helping a mate sell a newly renovated villa in Clendon on 600m2. He has it listed for $488,000 here. He has done an extensive renovation but even still, it would have been unheard off, even in 2014 to think of achieving high $400ks for a property in Clendon.
In today's market if your budget is under 600k & you want what every body wishes for (freehold,new,brick,3-4bed,2bath,close to centre) then there are not many options left. Capital growth n rent must go hand in hand for an investment to be successful.
Any one buying a feesimple property with potential in closest proximity to centre will win with out doubt.Central location increases the probability of capital growth n middle income families provide rental gains.
Another few years & people wouldn't mind living in poorer otahuhu or mangere pockets. Akl market is like a volcano ...Hot in the centre n cooler at peripherals.
As an investor in akl there is limited risk as its a test match on the best pitch of NZ, so any area would do good long term.
Would appreciate some comments /feedback from the forum for traders or speculators.
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