Orewa Property Value Trends

[Wayne]

I am waiting for Orewa to become another Mount and then my properties there will rocket.
Doesn't seem to be happening

[Leftette]

I thought commercial investors usually went for more than a paltry 5.8% yield. Orewa locals are, mostly, dead against high-rise. Personally I'm more a fence-sitter on the issue.

[Leftette]

What do you mean, Wayne. Property in Orewa has never been higher. 2-bed units for >500k. You're hard pressed to find a 2-bed for less than $450k now, and that would be a shite one mid-block with no motorhome parking (important feature to the oldies, you know).

[Wayne]

so a oldish 3 bed unit near the centre (one of 2 on the section, 3 min walk to the supermarket) would be worth what?
Maybe my gold mine has gotten better.

[Leftette]

Depends on the street, but if it's oldish and therefore in need of a tart up, but the bedrooms are an ok size, I'd say mid 500's. Maybe high 400's. Or mid 400's. Possibly low 400's. I'll give you high 300's for it.

[Wayne]

current CV of $380k, I estimate worth around $435k.
But if Orewa turned into a Mount Maunganui they (I own the pair) would be worth lots more

[Glizzle]

current CV of $380k, I estimate worth around $435k.
But if Orewa turned into a Mount Maunganui they (I own the pair) would be worth lots more

Its the beaches, Orewa beach isnt even in the same league as the mount, To start with the break isn't year around, the surf only goes off at really certain times and is heavily effected by the tide. The mount is the total opposite, has year around breaks unaffected by tide and better swell direction.

[Meehole]

Depends on the street, but if it's oldish and therefore in need of a tart up, but the bedrooms are an ok size, I'd say mid 500's. Maybe high 400's. Or mid 400's. Possibly low 400's. I'll give you high 300's for it.

$200,000 price spread there.......

[Meehole]

Its the beaches, Orewa beach isnt even in the same league as the mount, To start with the break isn't year around, the surf only goes off at really certain times and is heavily effected by the tide. The mount is the total opposite, has year around breaks unaffected by tide and better swell direction.

True but Orewa is only 20 minutes north of Auckland and as the public transport gets better its easier to get to. Silverdale shopping centre has expanded at a rate of knots but Orewas population is predominantly retirees because its flat but that is changing too with the subdivisions like Millwater fast filling up with large family homes. The Mount doesn't have 2 indoor pools and a hot water complex like Waiwera within 2 3 km radius nor does the Mount have the fishing like the Gulf.

[Wayne]

Right Meehole - I'm going to buy in Orewa!

[Wayne]

I don't remember starting this thread and I'm the 1st entry. I must be doing this in my sleep - scary stuff.

[Glizzle]

True but Orewa is only 20 minutes north of Auckland

Marine parade is 40mins in your Ferrari

[Meehole]

Marine parade is 40mins in your Ferrari

From Tauranga??

[Leftette]

Nor does the mount have an indoor ski slope with (almost) real snow within a 10 min drive.

[Leftette]

Its the beaches, Orewa beach isnt even in the same league as the mount, To start with the break isn't year around, the surf only goes off at really certain times and is heavily effected by the tide. The mount is the total opposite, has year around breaks unaffected by tide and better swell direction.

That's a GOOD thing. Last thing I want is marauding bleached-hair surfer type single-cell morons in Kombis repeating "gnarley" and "tubular" ad-nauseum.