Pukekohe - is this area up & coming & worth investing in?

[mrsaneperson]

Looking at the nicer newer housing area of Pukekohe . The house is a 3 bedroom on a 550M squared section around 1995 construction but i noticed on the report it already has had 6 owners since then. So thats one new owner every 3 years. That seems a helluva lot for a relatively new housing division.
I've asked one neighbour how the area is & they seem quite nice. There was some flooding in the area around 1999 but the council undertook some major construction work to supposedly overcome this problem.
Anyone with knowledge on Pukekohe please chime in.

[Orkibi]

mr, Pukekohe is definitely worth investing in if you find a good deal.

by good deal i mean the usual reasonable return of yield and opportunity to add value.
With the railway station there and the growth of south Auckland and lifestyle living in the area there is good growth prospect.
we already see good demand and growth.

In Puke you need to make sure you are in the right school zone and the right area, some of the northern area is no good, with lower economic housing its somewhat rough area.

Whats the idea with buying a 3 years house, whats the upside of yield or equity??
(remember this is an investors forum....)

[BigBadWolf]

Very nice town, has all the shopping and facilities you expect from a big city but it is currently only the size of a provincial town.
Tuakau could also be worth a look too I think, it is no further from the Pukekohe train station than some areas of Pukekohe are.

[mrsaneperson]

But does no one here think that 6 different owners for 1 property in 18 years is unusual? Most of my neighbours have sold up only once in the 18 years i've lived here in East Auckland.With that high turnover of owners it could indicate that they were not happy living there. The street is a good area .

[Orkibi]

yes it is strange, unless you misreading something...
send me the address and i will look it up for you.

[anonymouse]

I live in Pukekohe and have noticed an increase in sales in the area. I live in a cul-de-sac and almost all the houses on one side of the street have changed owners in the last 12-15 months. I would be interested to know what street you are looking at, as I may be able to shed a little light on what that particualr area is like.

[mrsaneperson]

The house is on O'Connor Dve, supposedly a good part of Pukekohe..So with your situation anonymouse, why are they moving house after only 12-15 months? Are they upgrading to better locations? It seems a big turnover for that housing area in general. Just curious.

[Orkibi]

Any gaing around or ex convict something ???
talk to the neighbours and the agent.

[mrsaneperson]

Did talk to one remaining neighbour an elderly lady who seemed very happy living in the area. Asked the agent a few times why there was a high turnover of owners she did not know. No gangs as far as im aware.

[mrsaneperson]

Both next door neighbours closeby sold last year in 2013..seems strange many are selling in such close proximity. Although this could be atrend for the whole area in waht anonymouse was saying.

[Orkibi]

Is it a new subdivision ??
often in new sub you have first had "diveloper frinds " or spakulators buy first.

did you check The name of The buyers around ???

[anonymouse]

Definitely no gangs in that area (as far as I am aware) - Plenty around my end of town, but the local scum tend to remain fairly low key. My house has increased in value by about 80- 100k since I bought it 2 years ago - I know it's not massive in general Auckland gains, but the property only cost 300k. Admittedly I have spent a lot of time tidying it up and renovations but the money spent on it is nowhere near the gain I will be making (should I ever decide to sell..)

The area mrsaneperson is looking at is one that I am looking at buying into myself. I may show up to the auction myself and have a wee gander. :-)

[mrsaneperson]

its around 1995 built so that isn't too newish ..but thanks people i will see how the auction goes, there seems to be a lot of interest in it, so it may well be out of my reach

[mrsaneperson]

Letting everyone know the house went for $498k at auction today , that was way out of what i wanted to spend by around 30k.

[Orkibi]

mrsaneperson,

so if you would have paid say 450k for it, would you regard it as good investment and why?