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Investment in mt wellington, Panmure and Otahuhu

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  • Investment in mt wellington, Panmure and Otahuhu

    Hi all,

    I am new to this web/forum. I have missed the bus to purchase a property back in two/three years ago. I am living with my family and think to purchase my first home as an investment.
    I am thinking few locations
    1. Mt wellington, due to the train station and the Sylvia park seems to keep continue developing.
    2. Panmure, good transportation and good land size
    3. Otahuhu good price and good land size
    My budget is anything up-to 850K. I have think to hold the property for 3 years and meanwhile renting out the property to help with the mortgage.
    What are your thoughts on those locations? Which location will have more potential growth and easy to rent? Given the current market condition, should I wait until end of this year, before consider to clip in to the market?
    Last edited by Perry; 01-05-2017, 01:06 PM.

  • #2
    All of those are fine. Panmure is rough the closer you get to GI so you have to pick your streets.

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    • #3
      sorry what does GI stand for ?

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      • #4
        GI = Glen Innes. Consider looking there and Point England too, but as mentioned, choose your streets...

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        • #5
          You can look up the addresses on relab.co.nz. Burglary rates, state home rates could be helpful here.

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          • #6
            Just look with GI where the high density state / special / whatever-it-is-called housing is going in.

            Anyway, all those areas are fine. We have a property service that helps people new to Auckland (well any NZ market) invest well. Here is a link.
            Free online Property Investment Course from iFindProperty, a residential investment property agency.

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            • #7
              I did this exact research every weekend over about 6 months, but about 10 years ago ( I left NZ 10 years ago). However, I believe that relatively, the scene is the same.
              The best gains were in Glen Innes, but I was put off by so many youths walking around wasted on drugs etc. Despite the real estate agents and media telling me it was all changing, I could see it wasn't happening fast, I as I lived nearby and used the GI shopping centre 2-3 times per week (in 2004-6).

              Panmure rose quickly in the 2005-06 boom but it is a little far from a motorway, and at that time was mostly $2 shops and Chinese "massage parlours".
              Mt Wellington was what I chose - it rose quick on the back of Ellerslie, and whilst 10 years later Ellerslie has become the new edge of Remuera, Mt Wellington has taken the place that Ellerslie used to occupy. Its a couple of minutes to the motorway, a couple of minutes to Sylvia Park, and where there used to be scruffy dairies with steel bars on the windows, now there are cheerful coffee shops. On a Sunday or weekday night I can drive from my Mt Wellington house to Queen Street in 12 minutes - not so far.

              Of course this will be common knowledge to most readers. Wish I'd bought edge of Ellerslie - Banks Rd area - in 2005
              Last edited by Timmurray; 17-05-2017, 06:23 AM.

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