Looking at buying our first rental- we're Aucklanders but the prices up here seem crazy, even units are going at around $500K and the yields are very low! We used to live in Cambridge 5 years ago and you can't beat it for a great town, we're in our early 30s but would eventually like to retire down there. When we lived there the rental market seemed strong especially around Cambridge East more so than Leamington. Our other option was to look at Hamilton. I don't know Hamilton that well and it's less like Auckland in that you get 1 suburb with good and bad streets. I'm looking at under $450K so would have to look at the Western suburbs, Melville etc and not sure what sort of tenants I would get there. Does anyone else own property in Cambridge? How do you find tenanting the house? Long term is Hamilton more likely to go up than Cambridge. And lastly how big an effect do you think the new house builds in Hams and Cambridge will have on the rental market?
Thanks Patty
Thanks Patty
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