Originally posted by marklowes
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Wellington Property Boom ?
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Originally posted by marklowes View PostThanks to immigration all auck hospitals are riddled with super bugs that are resistant to antibiotics. I.e long term stay in hosp = u will catch them. the superbugs are originally from india i believe, most staff have them and if healthy are no issue but can be deadly if already sick. Almost killed a family member, turning a bad motor vehicle accident into a 2+ year recovery, kidneys, large portions of gut removed, pumped fill of iv antibiotics of every type and the bugs still present and needing management to this day.
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Rental Market- Quinovic
What We’re Noticing...
Over the last month we’ve seen increasing enquiry from Auckland based property investors who are making moves to buy residential investment property in Wellington. They contact us for rental appraisals, advice on location and the likely appeal to tenants of a particular property they have in their sights.
With residential property investment decisions boiling down to a combination of current and expected future return and expected capital growth, it makes sense there will be some investors who think that Auckland prices mean these factors don’t exist to the required degree. If that’s the case, then it’s probably also likely that this group of investors will increase in number the higher Auckland prices go – there are likely to be some for whom the current rental return, capital cost and future growth will be just on their limit of tolerance, and additional capital growth would lead to them joining the ‘looking elsewhere’ camp.
So perhaps Wellington is finally getting its foreign buyers – Aucklanders.
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seems the welly boom
hasn't hit yet
While Auckland's house prices have soared in the past year, Wellington's have fallen.
Yes, fallen.
You know things are bad when we envy Whanganui's $4000 increase in the median property price.
http://www.nzherald.co.nz/business/n...ectid=11464752have you defeated them?
your demons
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Originally posted by eri View Postseems the welly boom
hasn't hit yet
While Auckland's house prices have soared in the past year, Wellington's have fallen.
Yes, fallen.
You know things are bad when we envy Whanganui's $4000 increase in the median property price.
http://www.nzherald.co.nz/business/n...ectid=11464752
Same article:
Auckland, I know you think things are going swimmingly but, actually, they're not that flash. Wages are barely rising. Dairy farmers aren't breaking even. Inflation's dangerously low.
Normally, the bigwigs in Wellington would do things to fix this. But they can't because of you and your houses, Auckland. Anything that would help the economy would only make your house prices shoot up even more.
Check out what the Reserve Bank has done this week. We all knew it had to drop the official cash rate. We'd been saying it for weeks. So it did so, but only as much as it absolutely had to...
Who keeps saying there's no Auckland housing bubble? Are these people mad?
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New apartments and office conversions must be having a significant impact on residential supply and prices
No issues with land shortage or NIMBY ism with these developments
Tens of millions are being spent on sprucing up Wellington's Boulcott St
and its surrounds, while other parts of the central city are also
getting a revamp.
Change is also afoot in other parts of Wellington's CBD. They include
the demolition of BP House for a new office building, the expected
arrival of UK retail chain Top Shop, and the revamp of the old
Kirkcaldies & Stains building for Australian retailer David Jones.
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at least you can still buy reasonable high yield property in Welly - and you can still buy around city fringe suburbs.
But let's just say cashflow doesn't make you rich .
When does everyone think Wellington market will pick up assuming it will eventually? I am planning to buy more this year but can't decide whether I should keep on putting my money in wellington. Auckland is too hot to buy now, would be entering at the peak. The past 4 years has seen a lot of opportunity cost with money stuck in wellington market instead of auckland. Oh well.
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Originally posted by SleepyTiger View PostI am planning to buy more this year but can't decide whether I should keep on putting my money in wellington.
South coast slammed
Huge waves are throwing boulders onto Wellington roads, trapping drivers
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Originally posted by speights boy View Post
my workplace is at queenswhalf. we never have these kind of issues
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It's definitely an interesting market at the moment here.
Good quality homes and investments are selling well, the following were 3 houses I looked at and Intel I gained, all are 4 bedroom 2 bathroom homes and good quality.
one in Ngaio sold for 850K with RV 630K.
one in Karori 750K RV sold for 925K
one in Northland RV 800K sold for 1mil and 50K.
It's a split market at the moment, stock is low, high quality ones are going well, people pay a few hundred K above RV - not too crazy yet, the rest though is still quite flat, maybe it is a sign that the market is starting to move already.
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I agree with what SleepyTiger said in the post above.
There are definitely gains to be made in the Wellington market but I think the geography of the city skews the data. Depending on what side of the hill you live on your house affects your property price. I can remember staring out the window in Karori in January while the sun streamed in, watching the houses on the other side of the valley out of the sun with smoke coming out of their chimneys because they were so cold. That sun made our side desirable and the other side not desirable. This was evident in the type of housing stock too - our side had larger, better quality homes, the other side were smaller, more run down, even though the majority of the houses that I am comparing were built about the same time (1950s)
Some suburbs have terrible weather compared to the rest of Wellington and it shows in their prices. And as I said, within some suburbs and even streets you get a huge difference in quality of house and therefore a huge range in house price.
There's definitely money to made in Wellington, you just need to be on the ground and know what you're buying.
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Originally posted by annasmartnz View PostI agree with what SleepyTiger said in the post above.
There are definitely gains to be made in the Wellington market but I think the geography of the city skews the data. Depending on what side of the hill you live on your house affects your property price. I can remember staring out the window in Karori in January while the sun streamed in, watching the houses on the other side of the valley out of the sun with smoke coming out of their chimneys because they were so cold. That sun made our side desirable and the other side not desirable. This was evident in the type of housing stock too - our side had larger, better quality homes, the other side were smaller, more run down, even though the majority of the houses that I am comparing were built about the same time (1950s)
Some suburbs have terrible weather compared to the rest of Wellington and it shows in their prices. And as I said, within some suburbs and even streets you get a huge difference in quality of house and therefore a huge range in house price.
There's definitely money to made in Wellington, you just need to be on the ground and know what you're buying.
Talking to some seasoned investors a couple of weeks ago, they were saying quality stuff is now pricy
This is not shown in the stats we see from QV and REINZ
I haven't seen anything that interests me for a while now
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