Originally posted by Timmurray
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I have just bought a rental in Mangere in a street that has a fair number of HNZ houses - an area that I wouldn't have touched 10 years ago - but it was $500K for a 3 bed house with double garage on over 800m2 renting at $450/week. 15 years ago Mt Wellington was considered a poor undesirable area that looked like a warzone, and now it is a pleasant sought-after suburb. With Mangere being so (relatively) close to central Auckland it can't be long before it also improves in appearance and desirability.
I'm no expert, but believe that if you are planning on holding on to a property for a decade or more I don't see any disadvantage with buying in areas that come with a poor reputation or a larger number of HNZ properties. Things change.
I'm no expert, but believe that if you are planning on holding on to a property for a decade or more I don't see any disadvantage with buying in areas that come with a poor reputation or a larger number of HNZ properties. Things change.
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