One-bed do-up for $550,000 - Overheated market?

[props4u]

Feast your eyes on this Mt Albert property, a One-bed do-up for $550,000

http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=10883229

Another property on much the same sized land though Blockhouse Bay not Mt Albert
2 Exler Place, Blockhouse Bay, Auckland
with CV of $440 ... sold two weeks ago on auction for $755

Yeap, its a crazy overheated market all right

[NovInvestor]

Well 521sq of land, floor area 69m2, you can easily spend and extend to 4 to 5 bedrooms if you move the exterior wall.

Lots of options, but at the end of the day, it's the land that is valuable.

Or you can buy the next door HNZ later, and subdivide both lots into 4 sections.



For the New Windor property at 2 Exler Place, have you actually seen the place? 4 bedrooms, 2 bathrooms, 3 bedrooms very very large by todays standards, and well looked after gardens etc.

$755k for 4 beddy 2 bathroom 2 storey house in mint condition in that area is not expensive. PS: New homes in the area sell for 900k+ now.

[drelly]

Heh... keep spending foolish Aucklanders!

[Davo36]

Heh... keep spending foolish Aucklanders!

Yep but we don't have that many chainsaw attacks here as Whangarei:http://www.nzherald.co.nz/nz/news/ar...ectid=10883065

But heated market? I think so, this sort of thing is why:



No, Chinese investors have no effect on prices whatsoever. Sssshhhhh.

[NovInvestor]

Wow Olly is tapping into rich Chinese investors too huh?

[Davo36]

NovInvestor, can you read what it says?

[TheLiberalLeft]

I can't, but $10 says it goes something like: Want to invest in NZ property? Don't know where to start? Want a reliable and kindly old gent (and some other guy) who knows the ropes to help you out? Then come speak to Papa-san Olly, or Lucky-Olly to my friends, who'll shine the light to the riches of the NZ property market. M'goi.

[RHarris]

Anyone know what street that mt Albert property was on? Seems ridiculous not to say. Could be a bargain on the right street over there. Lots of million dollar plus homes there.

[speights boy]

Margaret Ave.

[Janey]

I can't, but $10 says it goes something like: Want to invest in NZ property? Don't know where to start? Want a reliable and kindly old gent (and some other guy) who knows the ropes to help you out? Then come speak to Papa-san Olly, or Lucky-Olly to my friends, who'll shine the light to the riches of the NZ property market. M'goi.

Spot on.

[Raftcomm]

Yup spot on except for the last 'M'goi' bit.

[TheLiberalLeft]

Really? Bugger. That's the only Chinese I thought I knew - Lung poi maitai, m'goi. Spelled phonetically obviously.

[props4u]

For the New Windor property at 2 Exler Place, have you actually seen the place? 4 bedrooms, 2 bathrooms, 3 bedrooms very very large by todays standards, and well looked after gardens etc.

yes seen it, did you? ... was well presented buttttt ... anyway just goes to prove there's no relationship between CV and market rate ... btw, i said blockhouse bay, you said new windsor ... its avondale

[props4u]

Anyone know what street that mt Albert property was on? Seems ridiculous not t o say. Could be a bargain on the right street over there. Lots of million dollar plus homes there.

here's another one may be for you if you're after this area ... 75 Taylors Rd St Lukes ... open home coming weekend ... listed with Anne Duncan ... just came across it now

[NovInvestor]

NovInvestor, can you read what it says?

Ok let me translate: (first sentence to last, top to bottom)

Newland Burling
want to invest in real estate, but don't know how?
have existing portfolio, but want to increase returns?

team with 60 years of experience, professional analysis, unique views
professional one stop shop investment advice
increase gains and reduce risk for your property investments
any questions or challenges from residential to commercial investment
we can sort it out for you