More positivity around Porirua as an investment choice. This time the low end - Cannons Creek.
Long lambasted by almost everyone as the end of the world, avoid at all costs it is now emerging as a potential hotspot.
Porirua median house prices are unreliable given the large area and huge variance in property types and suburb demographics... For this area you need to break it down into specific suburb growth - Cannons Creek, waitangirua and Ranui Heights have picked up since Jan this year and continue to be hot.
Articles like this one and the one last week on Titahi Bay auction result will likely move the herd opinion and when they take a look they'll see great value...
Add this to the fact that these areas (even fully renovated) sit comfortably under Kiwisaver limits for support and now you have First Home Buyer interest...
Now for you investors - needing 40% of $300k is about the same as 20% deposit on $600k for something in the inner ring suburbs of Wellington... So you're still able to buy an investment property but your location choice may be about to change!!
Long lambasted by almost everyone as the end of the world, avoid at all costs it is now emerging as a potential hotspot.
Porirua median house prices are unreliable given the large area and huge variance in property types and suburb demographics... For this area you need to break it down into specific suburb growth - Cannons Creek, waitangirua and Ranui Heights have picked up since Jan this year and continue to be hot.
Articles like this one and the one last week on Titahi Bay auction result will likely move the herd opinion and when they take a look they'll see great value...
Add this to the fact that these areas (even fully renovated) sit comfortably under Kiwisaver limits for support and now you have First Home Buyer interest...
Now for you investors - needing 40% of $300k is about the same as 20% deposit on $600k for something in the inner ring suburbs of Wellington... So you're still able to buy an investment property but your location choice may be about to change!!
Comment