Papakura Heights - Redhill- Is it good investment area

[JABlog]

I took a drive around Grove Road Papakura and surrounding areas.

On below listing the section is 809m2 , is this a good part of Papakura, what is the subdivsion costs in Papakura.
Big swimming pool at the rear which will have to be removed.
Finally what is the max you will pay for this once if you see a good potential?
There is already a single dwelling on the rear on adjacent property

http://www.realestate.co.nz/2602110

Jupiter Street Papakura - Is this a good street ?

Thanks

[Bluekiwi]

I took a drive around Grove Road Papakura and surrounding areas.

On below listing there is already a single dwelling on the rear on adjacent property, is this a good part of Papakura, what is the subdivsion costs in Papakura.
Big swimming pool at the rear which will have to be removed.
Finally what is the max you will pay for this once if you see a good potential?

http://www.realestate.co.nz/2602110

Jupiter Street Papakura - Is this a good street ?

Thanks

You made it back alive thats a start, did you hop out of the car ?

No seriously anything in Rosehill school zone, or on this side of the railways is supposed to be good.
I have one in Sunnypark

[Bluekiwi]

Cant pm you JABlog your mail box is full, but.

The one you linked to me.
To be honest I dont know papakura that well. Its not in the really bad area's by Red Hill, but its not in the great area's close to town and Rose Hill.
Its on the wrong side of the rail way and closer to the bad area's than the good, but I have no idea where the good and bad start and end.
CV is 560k and its a lovely looking house on large full site. So I guess its going to be 560k to 640k ???
Whats good price and bad I dont know the area well enough, and depends if its your own home, a flip or a rental property.
If a speculate, then not a bad area to be in, as on the outskirts of prime area's that have already gone up in price.

I am talking about Grove road, the link you sent me ???????

Jupiter street, definitely a good street, its in Rosehill zoning, on right side of rail line, close to Rosehill school and motorway and papakura town ship.

[Dens]

Hi everyone, I'm also a newbie investor and looking at my first IP.
Have found one in Papakura, too, so was glad to find this thread.

This place is near Te Koiwi park. South of the town centre and on the east side of the railway - but only by about 400m.
The area doesn't look too bad, but also not amazing. Nearest primary school Edmund Hillary, decile 1.

I'm after a balance of yields and capital growth and Papakura seems like it might be next to have a bit of a lift in price.
(I'm also looking in Manurewa, Clendon, Takanini etc, would it be fair to say these have slightly lower yields but potentially better capital gain?)

Thanks.

[Peter Griffin]

I have owned property in the Redhill area since 2002, On Dominion road, Liddy place and Redcrest Ave. I purchased in this area when I did because my basic property investments fundamentals worked. Demand, ror and future growth. The area is going through a slow change socially and as pointed out in a previous thread there is a sizeable development at the end of Dominion on Clevedon road. This will be a telling indicator, if first home buyers take the plunge could start a trend???. Anyway the graffiti has reduced and There's are a lot more white females walking dogs today then there was in 2002.

P.G

[Dens]

Thanks Peter,
Took another drive out there today. There's a definite 'wrong side of the tracks' feel, but it's not terrible. The odd pair of shoes dangling from powerlines ...
It seems 6%+ yields are quite possible out there with added sleep-outs etc.
How have you found capital growth in that area of Papakura? Over the whole town it seems pretty good but hard to know if it's just the good places dragging the average up.

[Peter Griffin]

The capital growth fluctuates. It tends to get the tail end/ ripple from Auckland eventually. To put it in perspective, the place I have on Dominion road is a 3 bedroom with single garage I purchased in 2002 for 123,000 a similar property in tilbrook Ave (same sqm and section size) sold in Nov 2015 for 459,000. The property is a 50's weather board. I have a Call centre manager and Warehouse employee with their Grandmother. They've rented from me for two years, current rent is 410 per week. I have indicated the rent will increase because the 'market rate' is higher. It will be raised to $435 , Could be more if my bathroom was renovated. I renovated it last in 2003.

P.G

[Dens]

That's helpful, thanks Peter. Would hate to buy the wrong area and have tumbleweeds while everywhere else gets gains.