Saint Andrews is highly desirable for both tenants and home owners. I'm not surprised the property sold for over $400k.
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Fonterra spending $250m at Lichfield just outside Tokoroa.
Heard tell that about $80m to be spent at Kinleith by the new owners.
A new railway siding has also been built."There's one way to find out if a man is honest-ask him. If he says 'yes,' you know he is a crook." Groucho Marx
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I was keen for this one in the end I decided I like my chances in outer suburbs in Auckland rather than Hamilton. Hamilton it has a nice and steady growth but very sensitive to downturns and nothing spectacler to write o home about.
Look at the views on this one - My take is if Auckland if you speculate and things turn to custard you can hold on with slow growth but places like this you will be stuck with it for a very long time.
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New build vs existing property for IP in Hamilton. Any thoughts?
Looking at new builds in Rototuna North (which I've never really liked to be honest) vs existing properties of a similar value in good established suburbs.
What will be easier to rent to good tenants?
What will achieve better capital growth over next 5-10 years? Yields look pretty similar so long term rental income (which is my primary motivation) will be similar. So the deciding factor is possibly on the capital gain side.
Any other thoughts?Last edited by donthatetheplayer; 29-07-2015, 06:35 PM.“Our favorite holding period is forever.”
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Originally posted by Bluecoat View PostI was keen for this one in the end I decided I like my chances in outer suburbs in Auckland rather than Hamilton. Hamilton it has a nice and steady growth but very sensitive to downturns and nothing spectacler to write o home about.
Look at the views on this one - My take is if Auckland if you speculate and things turn to custard you can hold on with slow growth but places like this you will be stuck with it for a very long time.
http://www.trademe.co.nz/Browse/List...x?id=912472876
I prefer Hamilton good areas like Saint Andrews over Auckland outskirts any day.www.PropertyMinder.co.nz
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Originally posted by BigDreamer View PostI was at the auction room in hamilton today. This property w ent for $462k. Believe it or not I thought this was a decent price. I own houses near by and have always had great tenants. Compare that to buying in the outskirts of auckland (which I also own homes there) you will 1. Be lucky to find anything in the $400k range and, 2. if you do find you will have awful tenants who will damage your property.
I prefer Hamilton good areas like Saint Andrews over Auckland outskirts any day.
new house built in East Auckland built 2001 $300K sold this year for $850K.
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East Auckland and outskirts of Auckland are two very different areas.
Auckland has had great capital gains and if you are happy with taking the risk of buying a property in Auckland at this time of the cycle rather than buying in a growing area (Hamilton) which although not as big as Auckland is only just picking up in prices.
Both cities are wonderful. I only gravitate toward Hamilton because it is less risky than buying in Auckland at this stage.www.PropertyMinder.co.nz
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The latest sharp drop in global dairy prices has led to growing expectations that there will be a drop in farm prices, according to Rural Value, a division of Quotable Value.
QV arm Rural Value has seen 'definite change in sentiment' after the latest sharp drop in global dairy prices
What does it mean? I know residential house prices aren't directly affected by farm prices. Nevertheless, what does this situation mean for investment property prices in places like Hamilton which rely heavily on income from dairy?
It can't be good can it?“Our favorite holding period is forever.”
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Perhaps lower than expected rental increases, and an increase in slow payers ?
The Waikato dairy industry could face a $1 billion loss in income if price falls below $4
August 7th is Fonterra's next forecast review.Last edited by speights boy; 30-07-2015, 05:17 PM.
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Originally posted by donthatetheplayer View PostNew build vs existing property for IP in Hamilton. Any thoughts?
Looking at new builds in Rototuna North (which I've never really liked to be honest) vs existing properties of a similar value in good established suburbs.
What will be easier to rent to good tenants?
What will achieve better capital growth over next 5-10 years? Yields look pretty similar so long term rental income (which is my primary motivation) will be similar. So the deciding factor is possibly on the capital gain side.
Any other thoughts?
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Australia iron ore prices tanked well over a year ago thats why we almost got to parity with the AUD, and less nz ers moving there helping net migration. Aussy house prices have marched on unimpeded and fuelled by low interest rates dispite all this.
I think we'll keep seeing property prices rise with low interest rates and the rbnz might have to bring in bank capital requirements and classification of loans to make interest rates for landlords higher by perhaps .25-.5%.. Auck has to consolidate if it doesn't we will see a crash, I'm hoping for a plateau and consolidation which won't hurt too many people except for the big neg gearers.
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Originally posted by BigDreamer View PostEast Auckland and outskirts of Auckland are two very different areas.
Auckland has had great capital gains and if you are happy with taking the risk of buying a property in Auckland at this time of the cycle rather than buying in a growing area (Hamilton) which although not as big as Auckland is only just picking up in prices.
Both cities are wonderful. I only gravitate toward Hamilton because it is less risky than buying in Auckland at this stage.
Absolutely, I don't dispute that at all. Its a good strategy. at least you are active in the market, over here its a waiting game now for the next cycle.
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