Pukekohe hotspots

[casacamo]

We are looking at buying an IP in Pukekohe, as I think it seems to be an area
which is developing rapidly, and is quite a pleasant, good sized town with reasonable work opportunities
and on the train line to Manukau city/Auckland.
Does anyone have any views on the best areas in Puke to buy for future growth.
I am looking at the Queens, Ward, West triangle (near the newPak'n'Save) but would be
interested to know if there are other areas we should consider.

I think Tuakau/Waiuku/Pokeno etc may be too far from main employment areas, but would
consider looking at anything worthwhile.

[NESW]

I don't know if the following is helpful, but in my opinion:

I have always liked Puke' but I think a lot of capital growth has already occurred. I don't think anything will go backwards. The Hill always seem to have a strong attraction.

The last property we bought in the wider general area was about 1 1/2 years ago, and we have seen that increase in value substantially, although we didn't buy it to be an investment, it was for our private family holding.

However, in my opinion, I wouldn't look at anything much further from the motorway or main centre as it is difficult to attract working tenants due to the high fuel costs. Pokeno might be interesting to watch over time. My speculative bet is Mercer will grow substantially with light industrial. Very odd place for McDonalds to be for such an insignificant area (or what appears to be) but this is my speculation over a longer term.

I personally wouldn't buy in Tuakau as I believe there is a troubled element in the district that they are trying to deal with at present. Newer houses seem overpriced to me.

I have 2 homes in Meremere (please see other posts) which isn't far from Puke' and I believe that area still has good growth potential and the residents and area is changing substantially for the better. Just watch which side of the road you buy because I believe one side is better than the other.

I am getting $220 & $210 for each property, I have heard higher rents are being achieved, but this is not supported by my agency, so cannot confirm.

You can still buy a unrenovated property in there for the low $200's, but have a read of my previous posts for the area and keep informed from a variety of independent sources....

My other properties in the wider rural areas of Puke' are achieving $260 for a very small 3 bed initial home with rural aspect, and (was) $400 per week for a 3 bed home on 16 acres - until it burned down.

[makanlah]

Hi; I agree with everything that NESW says, but have a couple of my own thoughts that I would like to add.
I have a 2-bedrm unit in the Queen St vicinity, near Pak 'n Save, that I bought four years ago, and in that time it has risen about 80 per cent in value. It is a terrific renter, with total vacancy over that entire time amounting to only 2 weeks. Tenants like that they can walk to work, the supermarket, or even the rail station. It rents for $260 a week.
Having said this, I think prices have peaked. I would have been better to sell it in autumn, locking in profit; and then putting the money to work harder elsewhere.
Can't see any upside in that particular market (units close to puke township) over the next 12 months. Local agents tell me prices are down and sales are slow. Also, spec builders have put up alot of tiny, two-storey townhouses on small plots...sometimes there are as many as four on a small section. They are very cramped, and share one driveway through the middle of the property. Watch out for those, as in the ads they look modern and sleek and attractive (but the pix don't show the within arm-reach neighbours.) Some have not sold and are being rented out, with some rentals for these 3-beds coming down quite a bit, thus affecting market.
Before mentioning hotspots, let me just mention one trouble spot: Birdwood Road. Prices are lower there, but there is a reason. Ask around.
Re potential hotspots: Manukau Road is expanding even more, with those big-box bulk shops springing up, drawing the focus away from the old township proper. The rail station is handy to there, too. There may be upside for residential investments in that area, catering to the locally employed, commuters, and possibly those connected to the car and horse racing fraternity, what with puke track complex so close by.
Speaking of which - although it's not to do with the residential scene, but commercial - puke is crying out for more motels...any accommodation, really. I tried to book one night mid-week recently, and the place was totally booked out. Not a room to be had anywhere. Ended up at caravan park at port waikato.
One final note: re tuakau, NESW is spot-on in his evaluation. There is an element that needs sorting out.
Hope this is of use.

[NESW]

The motorway upgrade heading south to Hamilton excited me and justified my Meremere purchases moreso.

Just so easy to pop down to Hamilton (against the traffic except on rugby nights) or into Manukau. In my opinion, Hamilton is getting outpriced for the first home buyer/young family despite the growing work opportunities.

With the new Springhill jail coming into operation and the new to be Hampton Downs racetrack (their trackside apartments sold quickly off the plan), light industrial is going to boom along to cater for the growing demands.

I can see parts of the motorway off ramps develop into spots of employment and housing opportunities. There was talk of the rail being upgraded for commuters along the way, and this can only be positive as well.

So that general area, south of Puke' and North of Hamilton, gets my vote (and bet) as something to watch.