Hamilton Investment Property

[JonnyC]

Hello PropertyTalkers,

I am considering purchasing a rental property in Hamilton and I have a few queries:

1) Who are the main demographics of renters in Hamilton? Are they young professionals? or Students? From what I can gather a large demand will come from young families and students?

2) what properties types are these renters after? And what facilities are attractive to potential tenants?

3) What is the current rental demand like in Hamilton?

4) What areas appeal to tenants?

5) Can anyone recommend a reputable Property Manager

Your help and knowledge would be much appreciated.

[mortgage broker]

We use derrick masters, quite good, quality rental management, sarah looks after us there

[Rosco]

I would second www.qrm.co.nz and suggest you talk to them about your questions as a property manager would be in the best position to answer your questions.

Ross

[Beginner1]

Check out these videos from Lodge for the month of May. Pretty accurate from personal experiences. Hospital area, University/School area (Hillcrest,HAM East and Silverdale) are prime for 2-3 bedroom houses and units. You can pick and chose your tenants if you have decent properties with 6-8% yields. But there are very few on the market right now and selling quick. I believe they are still not fetching big money.
Studios are not doing very well.

http://www.lodge.co.nz/News/Hamilton-Residential-Real-Estate-Video-Update

http://www.lodge.co.nz/News/Hamilton-Property-Management-Video-Report

[BigDreamer]

Rent is relatively low in Hamilton and hard to get great yields because of the low rent.

[Wayne]

Rent is relatively low in Hamilton and hard to get great yields because of the low rent.

Relative to what?
Relative to Auckland the prices are low also.
As is the growth.

[HouseWorks]

Hi JonnyC, Hamilton city central and whitiora are prime for professionals. 2 bedrooms works well. Hamilton East houses near university rent well during the new year Jan/Feb. Ray White on Victoria is on the ball with inspections and reporting. Yields are dropping but still better than Auckland and only a short drive down the expressway. We're longterm investors since the 90s and love the place for better opportunities available than Auckland. Best of luck

[JonnyC]

Thanks for all your responses...There has been talk that people priced out of the Auckland market are purchasing in Hamilton and commuting to Auckland for work any truth to this?

[rocket]

Very true. .. more than half of the buyers are from akl ...even further afield to Hawkes bay

[rocket]

I bought a property in Enderley Hamilton 2 wks ago, sold the first day of listing ... there were 10 offers

[speights boy]

I bought a property in Enderley Hamilton 2 wks ago, sold the first day of listing ... there were 10 offers

Did your offer have any conditions ?

[rocket]

It was cash unconditional

[BlueSky]

Does someone has any figures on the Hamilton or Tauranga's history if growth. Apart of the recent boom in Auckland , how does it compare to these areas long term?

I just came across a property in Hamilton which I sold back in 1999 and now selling for $460K , so it took 17 years to double compared to Auckland

[OneStepCloser]

Hi BlueSky,

The time to double etc could be misleading sometimes. Like my parents out west in Auckland, if they have sold it 3 years ago, it would also have took 20 years to double. Now 3 years later, it has almost triple. I guess for your case, you may also get a double in value if you have sold it at the end of the last boom, as the Hamilton market has been flat in the last few years.

[Rosco]

http://www.cswaikato.co.nz/services-property-accountants-hamilton/useful-information-accounting-hamilton

The lodge website also has a good graph of Hamilton information.

Ross