Local Chinese Investors Targeting South Auckland, is this 12 o'clock?!

[PTILoveYou]

Over the past week or so, I am seeing a big increase in online local Chinese investors asking about South Auckland.

A lot are also asking about Hamilton and out of town.

Other investor friends also told me it's crazy down South, and yields dropping to 4%...

12 O'clock?

Similar to 2006?

What do you think?

[speights boy]

Other investor friends also told me it's crazy down South, and yields dropping to 4%...
12 O'clock?
Similar to 2006?
What do you think?

With the money men back on the mainland calling the shots; it won't be 12 o'clock until 2% is reached.

[AMR]

The Barfoot auctions in Manukau have always been filled with Asian-looking investors.

South has gone completely crazy alright, as an example there is one property in an average street in Manurewa West which was sold three times since January, with sale prices from $420k to $600k and it's on the market again. This is a 3 bedroom on 800 sqm generating around $470 per week rent, and due to stormwater capacity issues is very difficult to subdivide. At these prices central is definitely looking the more attractive option although with sleepout, H&I / MHU builds and development strategies South is still reasonable cashflow.

[PTILoveYou]

With the money men back on the mainland calling the shots; it won't be 12 o'clock until 2% is reached.

No.

Foreign Chinese investors don't buy in urban South.

They buy either in Northshore/Central/East good suburbs with good school zones, or they buy sub-dividable potential rural land.

They don't buy Manurewa etc.

[AMR]

ICBC 12 month fixed is 4.85%. Similar to BNZ?

[PTILoveYou]

The Barfoot auctions in Manukau have always been filled with Asian-looking investors.

South has gone completely crazy alright, as an example there is one property in an average street in Manurewa West which was sold three times since January, with sale prices from $420k to $600k and it's on the market again. This is a 3 bedroom on 800 sqm generating around $470 per week rent, and due to stormwater capacity issues is very difficult to subdivide. At these prices central is definitely looking the more attractive option although with sleepout, H&I / MHU builds and development strategies South is still reasonable cashflow.

Lol thanks, I feel very happy with my 4% yield in Te Atatu Peninsula now!

[PTILoveYou]

ICBC 12 month fixed is 4.85%. Similar to BNZ?

You should get 4.7% with BNZ for 12 months, and 4.6 to 4.69% for 2 years with BNZ.

[speights boy]

No.

You asked if we thought it was 12 O'clock.
I said No, I didn't think it was.

[PTILoveYou]

You asked if we thought it was 12 O'clock.
I said No, I didn't think it was.

Haha yeah I was just joking.

Olly hasn't said anything about it so I'm jumping the gun hehe.

[donthatetheplayer]

No.

Foreign Chinese investors don't buy in urban South.

They buy either in Northshore/Central/East good suburbs with good school zones, or they buy sub-dividable potential rural land.

They don't buy Manurewa etc.

I'm told they are out west now too and have been for a while it seems. Of course the west is the best so they were going to catch on eventually.

Not just New Lynn but definitely Glen Eden as well.

[PTILoveYou]

I'm told they are out west now too and have been for a while it seems. Of course the west is the best so they were going to catch on eventually.

Not just New Lynn but definitely Glen Eden as well.

Local chinese have been buying up west since 2013. That's when they started to ask about New Lynn and stuff. 2014 was more about Massey/Te Atatu South etc, and those areas have gone up heaps.

Now it's South auckland and beyond!

[donthatetheplayer]

Now it's South auckland and beyond!

Next stop Ngaruawahia. Some lovely big landed properties down there!!

[speights boy]

The RBNZ Auckland investors rule will be 60% LVR next year I reckon.

[PTILoveYou]

The RBNZ Auckland investors rule will be 60% LVR next year I reckon.

That will just wipe out the local investors and help the foreign cash rich investors even more.

[speights boy]

That will just wipe out the local investors and help the foreign cash rich investors even more.

That is for the Govt to concern itself with, not the RBNZ.