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Investing in the West Coast

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  • Investing in the West Coast

    Read an article on Stuff recently about a rush of property sales on the West Coast and it got me interested in looking at property prices down. Prices seem ridiculously cheap compared to my home region (Wellington). Does anyone have any knowledge of the West Coast and what are your thoughts on the region's prospects going forward? Not sure how much of a market there is for rentals down there, but picking up a 3-bedroom house for $200k sounds appealing - the downside seems pretty minimal compared to what could happen if the region explodes.

  • #2
    Doesn't it rely on tourism? Good thing kiwis are travelling around.

    Found these statistics for the West Coast - 2019 Click on each box and you get graphs etc. Agriculture, fishing = 16% of their GDP, tourism = 14%. Then construction, manufacturing and mining all around 8% each.

    cheers,

    Donna
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    • #3
      You need to do more research fox. What part of the West Coast exactly etc. and as for the region (which is a huge part of the West Coast itself), well anywhere and I mean anywhere could "explode".

      e.g. Who would have thought we'd have an "explosion" in Canterbury with earthquakes? Kaikoura? It's out of our control so the risk will always be there, or anywhere as I said.

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      • #4
        ^^ Umm erinak, did you see that thefox001 is from Wellington?

        IMHO anywhere in NZ is risky if your decisions are based on poss. earthquakes, volcanic eruptions, tsunamis etc. And then there's mass flooding of seaside areas, plus erosion. Not sure where you can go to avoid the threat of natural disasters.

        cheers,

        Donna
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        • #5
          Hence, my point Donna. Life's a risk anyway.

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          • #6
            ^^ yeah good point. I wonder if some areas of WC may become ghost towns now wage subsidies are over and more job losses probable.
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            • #7
              Personally, I would do more research into the particular area they are looking at regarding tenancy.

              From our holidays/breakaways 'bout 3/4x yearly, we observe that people who are looking for a quieter, laid-back lifestyle/retirement snap these places up, so my guess is at the price fox is talking it will go very quickly.

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