Just watched this (Sunday doco on Akl house prices) http://tvnz.co.nz/sunday-news/strugg...-video-5466293 and it got me thinking.
We are property investors with properties in the Manawatu and Wellington a PPOR in WEllington. We have considered retiring to Papamoa in the next few years (3-5).
Tony Alexander in that clip suggests that if Akl keeps growing at 12% for the next 3 or so years - then then halo effect will kick in and places like Papamoa will start to go up as well.
I also noticed the last time we were up there that there is a lot of new roading going into Papamoa and new sub-divisions going in.
I've always been confident that we could sell your Wgtn PPOR and GV$450 and buy and at or less to get a decent place within walking distance to the beach. We certainly could today. But I'm wondering if I'm running a risk that we may not be able to in a few years tim - Wgtn prices are going sideways at the moment.
I know it's crystal ball stuff - but I'm considering whether we should be be looking at buying something in the Papamoa area to be in the market - even if it's not the house we ultimately retire to. We'd benefit from the CG. I'd like to be at least covering costs with the rental though.
We have ample LVR - the bank would love us to spend more money My main concern I guess would be the stability of the rental market in the area and finding a competent property manager.
We are property investors with properties in the Manawatu and Wellington a PPOR in WEllington. We have considered retiring to Papamoa in the next few years (3-5).
Tony Alexander in that clip suggests that if Akl keeps growing at 12% for the next 3 or so years - then then halo effect will kick in and places like Papamoa will start to go up as well.
I also noticed the last time we were up there that there is a lot of new roading going into Papamoa and new sub-divisions going in.
I've always been confident that we could sell your Wgtn PPOR and GV$450 and buy and at or less to get a decent place within walking distance to the beach. We certainly could today. But I'm wondering if I'm running a risk that we may not be able to in a few years tim - Wgtn prices are going sideways at the moment.
I know it's crystal ball stuff - but I'm considering whether we should be be looking at buying something in the Papamoa area to be in the market - even if it's not the house we ultimately retire to. We'd benefit from the CG. I'd like to be at least covering costs with the rental though.
We have ample LVR - the bank would love us to spend more money My main concern I guess would be the stability of the rental market in the area and finding a competent property manager.
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