Anyone know why Wellington has stalled?

[Bingo85]

Wow. Yeah we thought it should go for early 700s but would prob get closer to 800k with the amount of interest we saw. Glad we didn't turn up! Thanks for that.

[Nick G]

Just read about that in the herald. http://www.nzherald.co.nz/business/n...ectid=11557576

[Nick G]

Wow. Yeah we thought it should go for early 700s but would prob get closer to 800k with the amount of interest we saw. Glad we didn't turn up! Thanks for that.

Yeah, I was allowing $40-60K for a reno and was a bit nervous because you could see under the house etc.

[artemis]

I was just looking at an Upland Road Trademe listing near that one. Link below. Did you know there is now a tick box showing RVs for nearby properties. Not in all centres yet, but Wellington is up and running.

(I know, Rating Valuations, but it is now easier to see them - on an aerial map).

http://www.trademe.co.nz/property/residential-property-for-sale/auction-971858990.htm

[Nick G]

That's an interesting feature.

Sold a Keburn place about 3 years ago. Dang.

Hey, the WCC approved the Movie Museum - https://www.tvnz.co.nz/one-news/new-...n-city-council

[donna]

Wow that's really exciting for Wellington. Now we just need The Hilton to commit too so there's another 5 Star Hotel in the city.

cheers,

Donna

[SleepyTiger]

Thanks for the intel Nick.

How much do you reckon it will get valued up to once all reno is done ? I think 850K is achievable, possibly more, roughly 6% return.

Lots of work, 60K minimum, doesn't get much sun though which really puts me off (for long term maintenance reasons).

[Nick G]

no idea. Who does your reno quotes? The guy I wanted to use is tied up until Feb.

[artemis]

Those below the road places near the Kelburn viaduct come up for sale more often than other Kelburn places. So it seems to me anyway, not a scientific survey!

I am not in the market to buy ATM but live in the area and keep an eye on what's up.

PS We have a property maintenance company. Not LBPs but do most non LBP work. PM me if interested and I will point you at our TradeMe Services ad.

[Nick G]

Yes please!

Is this the thread where we bang our head on the wall about the bid we didn't make. I didn't bid in a tender today because I couldn't get a builder through and when found out what it went for I had to go have a very strong drink. Might need another. Nobody's fault but my own...

[Hound]

Got the good oil on olde Waikanae beach. Several properties sold for above RVs (six figures above) In recent times.

The new interchange is closer to the beach than Waikanae village. So it's proving popular for some Wellington purchasers, who want a quiet beachy place.

[Kbkiwi]

I'm wondering if Wellington is experiencing a surge that has yet to show up in stats. A house on Rolleston street I looked at was only on the market for 7 days before being sold. The new council valuation was $370k, and the sellers were seeking close to $585k. Was a tiny 3 bedroom place - only 80sqm, on a small dark piece of land.

[Don't believe the Hype]

About 6 months on... Anyone like to revise their comments?

[Nick G]

I wish wellington would go back to being stalled...

[Eugene]

I wish wellington would go back to being stalled...

Ha ha me too
Wish I hadn't posted now, butterfly wings etc, just added to the hype