Flat Bush – New Zealand's newest town coming to Manukau

[Marc]

Hello All,

Anyone heard of this new development?

Click here

Cheers

Marc

[whitt]

yes it is a large area between Manukau and Botany adjacent to East Tamaki.

Has been in the zoning and pipeline for quite a while now. Recently been in the news as they have decided to structure it properly before construction. There will be about 7 new schools zoned into the area.

Will include some zoning for up to 3 level apartments it seems also.

[casacamo]

It will be the new Albany of South Auckland.
Remember when Albany was all farmland.
(approx 10 years ago)
The Barry Curtis Park will be a great recreation area
similar in size to Central Park New York.

For what it's worth: my next pick for the next
'Flat Bush' is the area around Drury & Ramarama
which will get going sometime around 2012.

There is already plans underway for a new
'Silverdale City' near Orewa similar in size to
Manukau City Centre.

Casacamo

[PhilT]

Question for Kieran - Opinion please

Hi Kieran,

Could you please share your opinion on the Manukau City Council's Flat Bush project and what you believe the short and long term growth prospects to be for Flat Bush and it's surrounding suburbs (Otara, Clover Park)?

Thanks as always.

Phil

[Oopsick]

When is it coming? I couldn't find any dates ...

[kieran]

Hi Kieran,

Could you please share your opinion on the Manukau City Council's Flat Bush project and what you believe the short and long term growth prospects to be for Flat Bush and it's surrounding suburbs (Otara, Clover Park)?

This is what I deem a 'green fields' location. These locations have their own dynamics and tend to be somewhat volatile as the opposing forces of supply and demand wrestle each other ending up with surges in demand typically followed by surges of supply.
This wrestle will typically not cease until most (if not all) of the entire green field is built upon.

I have written in some detail about this very topic in my new book (Due for release September 2007).

In short I see it like this:

Short term prospects for the 'early' buyers in the green field should be reasonably good for some capital growth which is typical for a green fields location.
Medium term prospects are not so good (ie the mid stage of the development) it is likely to turn into an oversupplied market resulting in softening values, no growth or worse still negative growth (especially if there are many developers developing the location all at once).
Long term prospects - Once completed the location will simply be affected, like all established locations, by the traditional cyclical impacts on values.

Hope that helps and stimulates some feedback.

[PhilT]

Thanks Kieran, much appreciated!

[Kerry Christian]

Marc

Flatbush is part of the ongoing Dannemora development. I have been building in this area since 1996 -Huntington Park was where I started. I pulled out of Dannemora about 3 years ago as the sites moved to more high density lots - Keiran is correct in his assessment

he writes

Medium term prospects are not so good (ie the mid stage of the development) it is likely to turn into an oversupplied market resulting in softening values, no growth or worse still negative growth (especially if there are many developers developing the location all at once).

Flat Bush is surrounded by High density subdivisions and the money is in the land - regardless of size

If you go to the MCC district plan you will see what is proposed and then work out your options

kc