under 50K

[MrIronman]

Hi All

My first post . Thanks for all the help Marc!!

I've just been over to NZ for a look at a few houses on the north island. But was wondering what locals thought of the south island for investment?
I'm looking for properties under 50k with high yields and moderate growth. Does anybody have any suggestions on where to start looking?

Cheers

Anto

[Marc]

Hello!

Welcome to Pt! I have just chatted to muppet and he said that westan has brought quite a few Ip's in the SI for that price range. I will send him a private message to respond to your post.

Best Regards

Marc

[westan]

hi Ironman

yes i have been buying in the SI and the market is Hot at the moment, i've been buying the cheap end. as far as where is start looking, i think all areas are doing well and value can be found in most markets. but be careful the prices real have taken off. for instance one town (waimate) i bought in July for 40K, well similiar properties are now listed for 65K. do your own due dilegance and look for areas that have some economic potential, for instance Project Aqua could help Oamaru and Waimate. there is a lot of data out that states that the population will continue to decline, i believe that a reverval in population decline is already happening. this is only anacdotal as the official figures are not up to date. always check with the rental managers as to how many vacant houses they have on their books. By the way i'm living in oZ so others on the ground may like to comment. i will be moving to Balclutha in 3 weeks time!! Ironman if you have questions about specific areas please feel free to post here for all to see and answer, or privately to me.

regards westan

[MrIronman]

50k

Hi westan

I've heard alot of conflicting opinions and information about the south island. this is a pretty superficial analysis...

negative; negative immigration, like tasmania- over inflated prices and historical charts showing very volitile house prices. One person suggested this occurs in NZ due to the ablitiy for locals investors-dump properties due to no CG and easy low resale prices.

positive; in times of economic hardship south island keeps the country afloat due to the argriculture sector contributing significantly to GDP.
The charts showing negative growth are outdated. eg 2001 showed 46,000+ in southland and now its 50,000 due to SIT fees. Tourism picking up due to heavy marketing of the south island, eg Lord of the rings etc.

But opinions are like arm pits - everyone has them and they often stink! but most of the time thats all you have to go from! really

Right now my head is spinning maybe I need to get off the computer . But can you tell me what initially attracted you to the south island. Can you recommend any areas to start looking. Or any further comments - I find a great deal of your posts very detailed and helpful.

I'm going to buy down there (full stop)

Cheers

Anto