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  1. #11
    Join Date
    Jan 2014
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    1,137

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    Quote Originally Posted by Courham View Post
    It could be argued that wanting to "invest” in Auckland in the current climate is already not a wise decision. Others will probably disagree.

    As for capital gains how sure are you that Auckland prices won’t stagnate/decline over the next 10-15 years? Some pundits are now picking a plateauing/ possible drop and then a long (5-10yr) flat spell (wouldn’t be the first) as the market corrects itself. How would your strategy cope with that? You probably won’t be buying “as many as possible” during that time frame as you won’t have the additional equity due to lack of capital gains to fund additional purchases.

    Or will the current shortage of stock driven by lack of land + immigration (and rampant speculation) continue to see reasonable capital gains for another 2,3,4,5 years? Who knows for sure.

    Should things go pear shaped in Auckland lots of people with very large millstones round their necks they are going to have to service for the next 20+ years: “I owe, I owe it’s off to work I go.”

    Personally (and I must admit here I am biased) I’d stay away from apartments as they are very volatile, have a tendency to leak and can be harder to flick on in a downturn. I’d got for 2 bedroom units or 2-3 bedroom homes and take Gary’s strategy of trying to add value by possibly adding an extra room (not always easy).

    I’d be basing my strategy on yield not capital gain (that is the icing on the cake if you get it but not a sound strategy), so that probably rules out Auckland (for me at least) at present for that reason too.

    The good thing about property investing is there is no right answer to which strategy to use or type of property to buy, people have done well out of apartments for instance, others got badly burned when prices fell last time. Unfortunately though get it wrong and you can lose everything so I tend to go with a cautious approach.

    Craig
    Great advice, only thing I could add is that holding long term is really the only way to ensure any significant growth, central suburbs will grow faster than outer suburbs but all still relevant at some point in the cycle. Buy as close as possible with the money you have, may become easier in months to come.

    FH
    "Remember, people will judge you by your actions,not your intentions.You may have a heart of gold -but so does a hard-boiled egg".

  2. #12
    Join Date
    Jan 2014
    Posts
    1,137

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    Quote Originally Posted by flyernzl View Post
    I have bought in Pukekohe over the last three years, and have seen quite reasonable gains over that time - e.g. bought at 472k late 2014 now valued at 700k.
    People who live in Pukekohe don't work in the CBD - despite what the planners and politicians would have you believe, not everybody who lives in the greater Auckland area works there.
    There is lots of employment in Manukau city.
    Yes I have found the same, I also brought a H&I there in 2015 and its gone up 140k!, and there seems to be no shortage of tenants wanting to live there, yes Pukekohe is very different to other suburbs as a lot seem to work and live in the area, it also has very good infrastructure, shops, schools, and the train which makes it last stop there from Auckland. Like others towns in Auckland it does have its bad parts but there are a lot better parts also.

    FH
    "Remember, people will judge you by your actions,not your intentions.You may have a heart of gold -but so does a hard-boiled egg".

  3. #13

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    Quote Originally Posted by Nick G View Post
    Is it to live in or as an investment? What kind of deposit are you showing the bank?
    An investment Nick G....we are using equity from our own property

  4. #14

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    Quote Originally Posted by Lovethiscountry View Post
    Hi Ralabbalar,

    Possibly have a chat with Ron Hoy Fong who offers a free first chat. I went and heard him speak at the Queens St ANZ about Oct last year and as Courham mentioned he and Gary seem to work on adding value to existing home units by adding an extra bedroom increasing the rent and value in a short time.
    He will tell you if $400k will get you anything.

    Also try thinking outside the square. I sold a small commercial unit in Auck late 2016 for $240k private sale so small investments can be still be found but not it is not easy.

    Try wanted to buy adverts or door knocking that can sometimes get you first chance.
    Thanks for the tips ...good advice

  5. #15
    Join Date
    Apr 2016
    Posts
    2,343

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    Auckland won't fall over any time soon. It would have to defy gravity to see falling prices with demand just getting stronger and stronger. So don't let scare mongering put you off. Just don't pay too much when you buy.
    I would say 400K all in is going to be almost impossible but you may get into Manurewa on a cross lease in the 400's. Otherwise Waiuku, Tuakau or Pukekohe are all good options.

  6. #16

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    Quote Originally Posted by Bobsyouruncle View Post
    Auckland won't fall over any time soon. It would have to defy gravity to see falling prices with demand just getting stronger and stronger. So don't let scare mongering put you off. Just don't pay too much when you buy.
    I would say 400K all in is going to be almost impossible but you may get into Manurewa on a cross lease in the 400's. Otherwise Waiuku, Tuakau or Pukekohe are all good options.
    Thanks Bobsyouruncle...gotta start somewhere heh?!!

  7. #17
    Join Date
    Dec 2015
    Posts
    297

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    Quote Originally Posted by Bobsyouruncle View Post
    Auckland won't fall over any time soon. It would have to defy gravity to see falling prices with demand just getting stronger and stronger. So don't let scare mongering put you off. Just don't pay too much when you buy.
    I would say 400K all in is going to be almost impossible but you may get into Manurewa on a cross lease in the 400's. Otherwise Waiuku, Tuakau or Pukekohe are all good options.
    The above is complete bollocks.

    Ignore the BS (and already widely disproven arguments) about various measures of "demand" being the be all and end all of price growth. This is utter nonsense.

    There are many, many, many examples of popular international cities where despite heavy demand from people wanting to live there hasn't stopped extended price declines.

    anyone thinking the auckland market is bulletproof are delusional.
    Last edited by Kbkiwi; 21-03-2017 at 09:25 PM.

  8. #18
    Join Date
    Oct 2013
    Posts
    1,743

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    In fairness, Bob didn't say it can't happen, just that it'd have to defy gravity. Things defy gravity all the time. Ever jumped?
    AAT Accounting Services - Property Specialist - [email protected]
    Fixed price fees and quick knowledgeable service for property investors & traders!

  9. #19
    Join Date
    May 2008
    Posts
    3,691

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    Quote Originally Posted by Kbkiwi View Post
    The above is complete bollocks.

    Ignore the BS (and already widely disproven arguments) about various measures of "demand" being the be all and end all of price growth. This is utter nonsense.

    There are many, many, many examples of popular international cities where despite heavy demand from people wanting to live there hasn't stopped extended price declines.

    anyone thinking the auckland market is bulletproof are delusional.
    Pin this quote to the board with a bring up in three years time.
    I'll bet that Auckland house prices in 2020 will be higher than they are today.

  10. #20
    Join Date
    Apr 2016
    Posts
    2,343

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    You never take any notice of KB Bob. He's just a professional troll. The (s)care mongering brigade have to bash Auckland, who knows why. The key is to not pay too much, not avoid the best market int he country.....


 

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