Property Investor Magazine - Top 10 Boom spots

[mrsaneperson]

In this months edition HAMILTON is no1 boom spot followed by Papakura.

I was surprised to see Papakura there at the no2 placing but the reason given was that under the new unitary plan they are building 20,000 new houses between Takanini & Papakura.

[Anthonyacat]

They're probably talking 'wider' Papakura, including the new Takanini subdevelopments and the new areas in Karaka. But I'd agree that Papakura prices haven't been shooting up like a lot of the rest of Auckland. They're further out, down there. Takes longer. So now they're comparatively cheap.

[PTILoveYou]

Rest of Auckland like Papakura is just feeling the ripple effect. Same with Hamilton.

Established suburbs in Auckland have already had 60%+ gains, so it's time for the poorer neighbours to get their share.

[Frezzinghot]

The ripple effect already happened over a year ago in Papakura, I have property there and can say equity gains are through the roof.

[Davo36]

There is a development part way through on the Great South Road in Papakura. Used to be the old Post Office building.

11 apartments to be built on top of an existing building, 1 and 2 beddies I think, each with an uncovered car park out the back.

10 of the 11 have been sold at between $340k and $350k, which I thought were quite good prices.

Also, 9 being built in another part of Papakura have all been sold for around $560k, these are 2 bedroom ones I think.

So prices are certainly moving up.

[genius]

There is a development part way through on the Great South Road in Papakura. Used to be the old Post Office building.

11 apartments to be built on top of an existing building, 1 and 2 beddies I think, each with an uncovered car park out the back.

10 of the 11 have been sold at between $340k and $350k, which I thought were quite good prices.


Also, 9 being built in another part of Papakura have all been sold for around $560k, these are 2 bedroom ones I think.

So prices are certainly moving up.

I'm sorry but did you say 1 bed apartments in Papakura are going for $340k? WOW!!!!!!!!

[Davo36]

I'm sorry but did you say 1 bed apartments in Papakura are going for $340k? WOW!!!!!!!!

Yeah, they're a mixture of 1 and 2 beddies. Sold between $340k and $350k. That's what the agent told me.