Mangakino - Waikato

[cube]

Hi,

Anyone been through this place - a colleague at work has just bought 800 square meters, fully serviced, for what amounts to small change.

cube

[muppet]

Hi Cube

Drove around Mangakino last weekend. What a dump. The shopping centre is full of empty shops with windows heavily boarded up.

The best street overlooks the lake, hence with a view of water greatly inflated values.

Mangakino is known as the poor man's Taupo.

A huge number of the homes that cannot see the water are in the main, very rundown.

Many of the cheap houses are on leasehold land.

With the increase in values, rates will go up.

Very negative aren't I.

However you must do your due diligence because the REs make Mangakino sound very attractive. Perhaps it is but there is a distinct underclass in the area.

Regards

Regards

[Marc]

Hello all,

Thanks muppet for the comments - it is very helpful to have just inside information!

Best regards

Marc

[RodC]

I haven't been to Mangakino, but having spoken to locals in Rotorua and Tokoroa the feedback I got corresponds with what muppet has said.
Mostly leasehold, and much of the town has already been bought up by local investors looking for quick profits.

regards,

Rod.

[inzvestor]

Do they still have the plane cafe in Managkino?

I remember going there as a kid (and see it from the train too)

[muppet]

Hi Inzvestor

Wrong place.

You are thinking of Mangaweka, just south of Taihape about 200 km away.

And yes the plane or DC3 is still at Mangaweka.

Taupo's MacDonald's also has a DC3 and you can sit in it and eat your Big Macs.

Mangakino is on the Waikato River, right beside a hydro lake.

Regards

[inzvestor]

Ah, so I was - apologies if I have misled anyone !!

Mind you - Mangaweka is probably not a 'hot' area to buy in either !!

I remember the DC3 in Taupo too.....

[tamara]

Hi

Personally I feel that Mangakino would not be a desireable place to invest in. It is located in an attractive rural part of New Zealand but I feel has very little going for it. It has very little opportunity for employment, a relatively high crime rate and way that the homes in town are cared for seems to be poor. The strategic plans for the area are not indicating anything that will stimulate a change.

I suggest plenty of research before purchasing here.

Tamara

[wilandel]

Hi everyone,

I agree with Muppet and the others that Mangakino is not on my Number 1 place to invest list...

It is simply a ghetto, and I believe it will take MANY years to change that.

I was there about 2 mths ago, and although I purchased at Tokoroa, nothing would make me buy in Mangakino...

Sorry to be so negative, but it's one of those places that unless you see it for yourself you could easily be fooled by great returns and ruthless RE Agents.

I agree with Tamara, "plenty of research before you invest there"...

Regards,

Del