Who's still buying?

[Bobsyouruncle]

Rents are moving up in Auckland. I can't believe it, but it keeps going.

[kazzp]

Maybe depends where you own and when you are trying to rent it out...hasn't been my experience in west ak. I got zero rent increase in the last year as I had to rent it out in winter. Houses in New Lynn were sitting on the market for weeks and weeks. Property manager had to drop their fee to attract a good tenant. Not that people didn't want to rent it but no one I'd want to let the house to. And the longer it sits there with you waiting for a few bucks more a week the more it costs you long term with each week it's empty. So sometimes rather than focusing on that weekly figure you just need to rent it out. My experience has been that the more desperate ones will pay more because no one else wants to let to them....so depends who you want to rent to as well I guess but I'd rather have a better tenant and get less rent.

Rents are moving up in Auckland. I can't believe it, but it keeps going.

[Bobsyouruncle]

New Lynn only 1 suburb and not particularly desirable. I agree with you rents must slow down, they always lag well below house price inflation anyway. It's amazing what people will pay though to live in Auckland. With low interest rates the govt could do themselves a favour and help more of them into existing homes. BTW I see Little finally shot himself today. Maybe they will yet get a real leader and become viable again in an election or 3.

[kazzp]

It's got a good rail hub there and shopping mall plus it's pretty close to Ak city and has the waterview tunnel opening up connections now. All classic factors which usually make areas desirable for tenants and home buyers.

[Bobsyouruncle]

Yep maybe I am just biased. I think the whole area is pretty blah. The shops are awful. Traffic is unbearabe. I'm just an anti Westie maybe.

[kazzp]

hahaha yes maybe I am biased too. I am a dedicated westie

[Bluekiwi]

Yep maybe I am just biased. I think the whole area is pretty blah. The shops are awful. Traffic is unbearabe. I'm just an anti Westie maybe.

I am not anti west I just hate it out their

But I would take Clendon and Manurewa any day of the week instead of Ranui and Swanson, I think all the riff raff have left south and headed for the hills - west, that's where all the murders and drug probs on the news are happening anyway.

[Bobsyouruncle]

Clendon? You're mad. I practically lived there recently helping my foster son. Drugs and gangs everywhere. Trashed hnz houses, just awful.

[mrsym0r]

Speaking as someone who has lived in both Clendon/Weymouth and Swanson, I'd take living in West Auckland any day. Driving through Clendon you see pitbulls roaming the streets, windows boarded up, a police car drive past every 20 minutes, groups of people wearing gang colours, etc. You just don't see these things in Swanson. Ranui is still a bit iffy, that's for sure.

[Bluekiwi]

Clendon? You're mad. I practically lived there recently helping my foster son. Drugs and gangs everywhere. Trashed hnz houses, just awful.

Its the Riviera of the south Dean, coastal property !!

[Bobsyouruncle]

That's Weymouth and the water end of that is still awesome. Clendon I take a bodyguard just to go shopping!

[kazzp]

Funny how people still have such negative perceptions of west ak....I lived in New Lynn for years and it was a great place to live - so handy to the city, Titirangi, public transport and the mall. You do see some characters out there but personally I found that interesting. I certainly never felt unsafe. But of course there are pockets of bad areas still although I suspect they are also cleaning up pretty fast as first home buyers can't afford the 'better' areas of ak any more.

Speaking as someone who has lived in both Clendon/Weymouth and Swanson, I'd take living in West Auckland any day. Driving through Clendon you see pitbulls roaming the streets, windows boarded up, a police car drive past every 20 minutes, groups of people wearing gang colours, etc. You just don't see these things in Swanson. Ranui is still a bit iffy, that's for sure.

[Beano]

If you are a long investor (10+ years) then you should buy every year because:

1) it is impossible to time the market.

2) you must always buy underpriced properties that you can add value to.

Or buy overpriced rubbish properties you can't add value as you recognise in the long term it will be a great buy and if you don't buy now you may never get another chance. (That is my strategy)
Ps who said it was rubbish ? The other real estate agents
Who said it was overpriced the selling agent and the valuer's
Long term hold 10+ years yes I agree!

[Don't believe the Hype]

I agree beano - along my journey I have tended to buy under valued properties. I have bought only a few properties for 'more' than I thought they were worth (I.e market value) because they had additional value to me. At the time I considered if I had done the right thing yet move forward 3+ years and I am thrilled with my decision at that time. Now it seems like a bargain.

the only caveat to that is if you don't have the cash flow to service your purchases or borrowing power when you pay more than they're worth today with the long term view you are likely to come to a point where you can't get finance for your next acquisition.

[Beano]

I agree beano - along my journey I have tended to buy under valued properties. I have bought only a few properties for 'more' than I thought they were worth (I.e market value) because they had additional value to me. At the time I considered if I had done the right thing yet move forward 3+ years and I am thrilled with my decision at that time. Now it seems like a bargain.

the only caveat to that is if you don't have the cash flow to service your purchases or borrowing power when you pay more than they're worth today with the long term view you are likely to come to a point where you can't get finance for your next acquisition.

Yes people (including valuers) sometimes can't see values for many years eg Newtown ,berhampore,can non creek etc until it is too late and the area has become popular