Hamilton property market?

[jedimaster]

I am interested in what PT has to say about the Hamilton property market.

In my view the fundamentals of a good market seem to be there - good infrastructure, immigration, growing population ( fastest growing city in NZ apparently???) proximity to Auckland, Waikato Uni & the student population.

I know everyone says you can't beat Auckland but to my mind Hamilton must be the second best city in NZ to invest in. What do you guys think? Keen to hear other's thoughts.

[GO DO IT]

Some good buys out there!

We have invested in Hamilton. The rental demand seems consistant. Like any town there are definately some streets i certainly would recommend not buying in. And I say streets, some people seem to think a whole area is bad, but what we have found is the majority of an area can be good with 6 or more streets only being bad.

We have found there are still properties with subdivisibility options within close proximity to central city, well compared to Auckland everything is within close proximity.

General from a property management point of view, we find 3 bedroom homes, in average areas that are reasonably well maintained are easy to tenant. Generally we have no vacancy between a tenant giving notice and a new tenant moving in. This is something in many small towns that we found out the hard way.

We have helped a number of investors buy houses recently with yields of 8, 9 and 10% and had them a tenant before they settled.

So, I know Hamilton is considered Aucklands poor cousin, the house prices are definately cheaper, the last property cycles demonstrated that Hamilton's prices increased in line with the other larger cities.

Another comment, if you are considering the university area, be mindful of whether you are buying with a tenant in place on a fixed term, periodic or vacant possession, obviously the ideal is a fixed term ending end of January.

If you are considering something and would like a second opinion we would be happy to drive past it for you, give you our opinion of what sort of rent and tenant it would attract.

Cheers

[buxlo122]

Hamiltron City of the Future

[Perry]

Retire from Auckland and move down country and up money?

I can point you to a house, with stable tenants, that's for
sale, but not officially / advertised as such. Trouble is, you'd
need a good deposit to make it cash flow positive.

I've often wondered if soon-to-be-retiring baby boomers in
Auckland could find something nice and modern in Hamilton
to retire to, using the difference between the Auckland sale
price and Hamilton purchase price to finance a rental or give
a good nest egg for other investment purposes?

[Momo]

We have invested in Hamilton. The rental demand seems consistant. Like any town there are definately some streets i certainly would recommend not buying in. And I say streets, some people seem to think a whole area is bad, but what we have found is the majority of an area can be good with 6 or more streets only being bad.

We have found there are still properties with subdivisibility options within close proximity to central city, well compared to Auckland everything is within close proximity.

General from a property management point of view, we find 3 bedroom homes, in average areas that are reasonably well maintained are easy to tenant. Generally we have no vacancy between a tenant giving notice and a new tenant moving in. This is something in many small towns that we found out the hard way.

We have helped a number of investors buy houses recently with yields of 8, 9 and 10% and had them a tenant before they settled.

So, I know Hamilton is considered Aucklands poor cousin, the house prices are definately cheaper, the last property cycles demonstrated that Hamilton's prices increased in line with the other larger cities.

Another comment, if you are considering the university area, be mindful of whether you are buying with a tenant in place on a fixed term, periodic or vacant possession, obviously the ideal is a fixed term ending end of January.

If you are considering something and would like a second opinion we would be happy to drive past it for you, give you our opinion of what sort of rent and tenant it would attract.

Cheers

Hi Derrick & Robyn: Thanks for sharing the info, in your opinion, what are the good areas that is worthwhile investing in Hamilton? Thank you.

[GO DO IT]

Sorry for the delay in replying, I haven't spent much time on property talk recently.

There are many good solid investment areas in Hamilton, such as: Forest Lake, Beerescourt, St Andrews, Maeroa, Rototuna, Flagstaff, Glenview, Enderley. The demand is currently for 3 bedroom homes with garaging on a family sized section. We had an investor find a deal on trademe, the numbers looked great, they area they quoted was generally good. They had asked many prudent questions of the seller, but thought they would run it past us for a rental appraisal. Unfortunately, it was the worst street in the whole area, with a gang house next door. The house had tenants in it, but they hadn't paid rent to the owner for months and the owner was scared to take them to the tribunal. The prospective buyer really thought they had done their homework, but would have bought an absolute lemon.

We would be more than happy to drive past a property or give a rental appraisal if anyone wants a second opinion on a property, no strings attached.

Regards

[Perry]

The demand is currently for 3 bedroom homes
with garaging on a family sized section.

What details can you add to that?

E.g. How big is a family sized section?
What's the going rental rate, for, say
a good, quiet street in Flagstaff for
a dwelling like you say is in demand?

[SwissKiwi]

The 3 main growth areas of NZ are apparently Auckland, Hamilton and Tauranga - I forget where I read this.

[damage]

And all with falling house values. Long may it continue

[david 1237]

Pukekohe is also somewhere in there, the influx in recent years has been astounding and is continuing due to the huge rent demands in many Auck suburbs.
Obviously with the recent opening of a Mitre 10 Mega there must be some decent forecasts in the pipeline.

[crackennz]

A buddy of mine made a 90k profit from a 192k purchase price house in the Tron...but a few years ago now...

[Momo]

Sorry for the delay in replying, I haven't spent much time on property talk recently.

There are many good solid investment areas in Hamilton, such as: Forest Lake, Beerescourt, St Andrews, Maeroa, Rototuna, Flagstaff, Glenview, Enderley. The demand is currently for 3 bedroom homes with garaging on a family sized section. We had an investor find a deal on trademe, the numbers looked great, they area they quoted was generally good. They had asked many prudent questions of the seller, but thought they would run it past us for a rental appraisal. Unfortunately, it was the worst street in the whole area, with a gang house next door. The house had tenants in it, but they hadn't paid rent to the owner for months and the owner was scared to take them to the tribunal. The prospective buyer really thought they had done their homework, but would have bought an absolute lemon.

We would be more than happy to drive past a property or give a rental appraisal if anyone wants a second opinion on a property, no strings attached.

Regards

Thank you for your reply.

[JCaine]

Hi All

I'm looking at a place in Bader, close to Stanford Park.
Any opinions on this area?

Cheers

[sbw]

Hi JCaine,

Personally I wouldn't touch anything in Bader. I live in Melville, Hamilton very close to the hospital. As first home buyers 18 months ago we looked at a few places in Bader and the area in my opinion is pretty dodgy. Stay right away from anything on Norrie st, or down that end. The general feel of the street jus scares me to be honest. The closer to the main highway the better.

In saying that, on the other side (ie peacocks rd going into Fitzroy/Glenview) is pretty good, and I do know a few people who regularly drive down bader st without any problems.

If you are looking at properties similarly priced I would suggest fairfield and enderly but again there are some bad streets, but not like Bader.

Let me know if there are any specific streets you are interested in.

[bootz1]

Hi

Can anyone help me? I just need a second opinion on investing in areas like Hillcrest (ford st) and Frankton(lyon st). Any comments would be much appreciated!