Newland Burling and Co

[HouseWorks]

Did anyone go to the (Olly) Newland Burling and Co presentation last night? I think the general thrust was to promote commercial property.
Their view is:
** the Auckland residential market has peaked, they predicted zero or minimal capital growth in Auckland going forward.
** The regions are growing due to the ripple effect. Out of Northland, Hamilton and Tauranga their pick is Hamilton due to jobs growth and stronger economy and they gave several Hamilton examples of recent buys. The gross yields they quoted were really high so I think they were probably in bad areas.
** They also said that an Onehunga house they let recently on Trademe had 30 applicants in one hour of being listed.
** The commercial property clock they say is at 9pm with rising prices.

What do you think? And if you were there, what were some other interesting comments or opinions?

[Orkibi]

they predicted zero or minimal capital growth in Auckland going forward.

i think they are been conservative.
i would guess (yes, its guessing isn't it?) growth of under 20% then lowering down to maximum 15%pa.

3 Years from the start of the current boom finely we see some growth in Central Otago.

[HouseWorks]

have you been buying more props in central Otago before the lift off Hadar? Even Hamilton has been slow to pick up which has only really got going across the board since mid this year. I agree they are too conservative but they make the point that Auckland prices are getting out of reach

[Orkibi]

have you been buying more props in central Otago before the lift off Hadar?

i purchased a commercial here last year but that's on different cycle...

I rather buy in Auckland then buying down here, but always keep my eyes open.
one can buy 3 bedroom houses in central for 250k-350k same prices as 10-7 years ago! why bother!