Buying South Auckland or Central?

[Damap]

How is that relevant? It is the number of sales to Asians driving prices. Talk to any real estate agent.

[Champion78]

You can still find some bargains here. Old rough houses Asians don't buy so they are cheap still.
Funny thing is they are often brick and tile solid built homes better than a new one once renovated.

The thing is we have just purchased a property in Hamilton a couple of months ago so really no money to invest in another property.

[Damap]

Oh well Hamilton is great also. As long as you avoid the regions.

[Drother]

and dont forget brother,


you need two different tax structures for your investment and family home.

“Our goal must be to bring our wealth into harmony with the numbers of our tax system.”

Thanks Trader...

[Champion78]

Oh well Hamilton is great also. As long as you avoid the regions.

Hi Damap, I have read several times in this forum that you suggest investing either in Auckland (your preference) or Hamilton. Do you invest in Hamilton also? Do you mind explaining why do you think Hamilton is good given the flat capital growth? And when you say avoid the regions, do you mean the outer areas? Thanks.

[Damap]

I have family in Hamilton, have lived there myself and do invest there yes. It is only going to continue developing as people get sick of Aucklands congestion. The new highway development makes it almost commutable.
Last stats I saw Hamilton had the highest growth of any upper north island area after Auckland. Good tertiary education, growing population. relatively wealthy population. There isn't much to not like about it. And it's cheap.
Trademe has 86 3 and 4 bed homes under 350K. Like Auckland 8 years ago.

[Damap]

Outer areas I mean provincial towns other than Auckalnd or Hamilton. Outlying Hamilton is still OK. Close to uni or East hamilton is best.

[Champion78]

Thanks Damap. East Hamilton is where I have bought as I just can't convince myself for buying somewhere without good schools (as I care about good school myself although not crazy on the Mcleans zone). However, it does seem scary when I look at the number of rentals available in the area on trademe at the moment.

[Damap]

Hang in there you'll be fine. The first ten to twenty years are the hardest :-)

[Champion78]

Thanks, appreciate your comments.

[BlueSky]

Well if you bough one even in Papatoetoe you would more than doubled (x2.25 actually)

https://www.trademe.co.nz/property/insights/address/Auckland/Papatoetoe/Hoteo-Avenue/50/6b4aeb1c-d8c2-4b4c-8a75-03b6e4656eab

In 8 yrs ! market is hot !

[Quantitative Easing]

But i think Papatoetoe is one of the more desired suburbs in South Auckland, well as far as with Indians go. Feel like they are single handedly driving up the prices in Papatoetoe.

[Quantitative Easing]

Well if you bough one even in Papatoetoe you would more than doubled (x2.25 actually)

https://www.trademe.co.nz/property/insights/address/Auckland/Papatoetoe/Hoteo-Avenue/50/6b4aeb1c-d8c2-4b4c-8a75-03b6e4656eab

In 8 yrs ! market is hot !

Sold for 1.97 M today. Sold in 2012 for 632k. 1.3M in capital gains in 8 years.