The suburbs to home in on
By EMMA PAGE - Sunday Star Times | Sunday, 09 December 2007
Property investors face a patchy, slowing market but some homeowners are still making money.
A property watch website has revealed the suburbs with the fastest capital growth in Auckland and Wellington and highlights the best areas to hold, buy and sell.
SuburbWatch director Kieran Trass combines data from Quotable Value with his own analysis to give home buyers and investors recommendations for specific Auckland, Wellington and Christchurch suburbs.
He describes the Auckland and Wellington markets as "patchy" and says Christchurch has slowed dramatically and is "tenuous".
West is best in Auckland, with Henderson and Glen Eden included in the top five suburbs experiencing the highest growth. Other strong suburbs include Point Chevalier, the Eastern Bays and Mt Roskill. With 13% growth in a year, and value going up month on month, Birkenhead was also looking good. But the top five aren't the only good places to buy, with Mt Eden and south Auckland's Manukau earning a buy or hold recommendation.
In Wellington, Wainuiomata, Elsdon and Tawa are "buy-holds". The website subscription service showed sales volumes were down by 35% in Rimutaka over the year, but up 20% compared to the same quarter last year, earning it a buy-hold tag.
In comparison, no Christchurch suburbs were listed in the buy-hold category, with Trass saying the market there had peaked.
Top-performing Wellington suburbs include Elsdon, Rimutaka, Upper Hutt, Stokes Valley and Whitby.
The data used to decide these categories is updated monthly. The next analysis is due in three weeks. Trass uses historical trends and recent sales information to forecast future trends.
Harcourts CEO Bryan Thompson says that although the market across the country is slowing down, it is still in good condition. "The market never changes. The well presented properties where the owners have realistic expectations are selling well."
Although investors needed information about how properties would perform in the short term, most people wanted to buy a house close to good schools and transport or had good views.
"You're not buying it to make money, you're buying it for all the things it offers."
Trass says a general slowing did not mean all suburbs were experiencing a downturn.
And as house values rise more slowly or drop, the market becomes more buyer friendly as prices become more negotiable and more listings mean better choice.
http://www.stuff.co.nz/sundaystartim...7347a6442.html
By EMMA PAGE - Sunday Star Times | Sunday, 09 December 2007
Property investors face a patchy, slowing market but some homeowners are still making money.
A property watch website has revealed the suburbs with the fastest capital growth in Auckland and Wellington and highlights the best areas to hold, buy and sell.
SuburbWatch director Kieran Trass combines data from Quotable Value with his own analysis to give home buyers and investors recommendations for specific Auckland, Wellington and Christchurch suburbs.
He describes the Auckland and Wellington markets as "patchy" and says Christchurch has slowed dramatically and is "tenuous".
West is best in Auckland, with Henderson and Glen Eden included in the top five suburbs experiencing the highest growth. Other strong suburbs include Point Chevalier, the Eastern Bays and Mt Roskill. With 13% growth in a year, and value going up month on month, Birkenhead was also looking good. But the top five aren't the only good places to buy, with Mt Eden and south Auckland's Manukau earning a buy or hold recommendation.
In Wellington, Wainuiomata, Elsdon and Tawa are "buy-holds". The website subscription service showed sales volumes were down by 35% in Rimutaka over the year, but up 20% compared to the same quarter last year, earning it a buy-hold tag.
In comparison, no Christchurch suburbs were listed in the buy-hold category, with Trass saying the market there had peaked.
Top-performing Wellington suburbs include Elsdon, Rimutaka, Upper Hutt, Stokes Valley and Whitby.
The data used to decide these categories is updated monthly. The next analysis is due in three weeks. Trass uses historical trends and recent sales information to forecast future trends.
Harcourts CEO Bryan Thompson says that although the market across the country is slowing down, it is still in good condition. "The market never changes. The well presented properties where the owners have realistic expectations are selling well."
Although investors needed information about how properties would perform in the short term, most people wanted to buy a house close to good schools and transport or had good views.
"You're not buying it to make money, you're buying it for all the things it offers."
Trass says a general slowing did not mean all suburbs were experiencing a downturn.
And as house values rise more slowly or drop, the market becomes more buyer friendly as prices become more negotiable and more listings mean better choice.
http://www.stuff.co.nz/sundaystartim...7347a6442.html
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