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  1. #1
    Join Date
    Mar 2013
    Location
    Auckland
    Posts
    1,445

    Default Regional Investment - next step?

    I'll soon be ready to take my next step in building my portfolio. I'm priced out of the 'biggies' so am looking to the regions.
    So far I'm considering:
    Southland - Gore/Invercargill/Mataura - popular due to no SIT fees
    Palmy - steady market/upward movement
    Wanganui - rental shortages
    Rotorua - already have a property here that I can relocate another full-sized house onto. Harder to get finance, though.
    Kawerau - have heard things about becoming popular again

    Which of the above, in your opinion, would be my best bet? Or is there an excellent alternative that I've missed.

    Looking to buy and hold and aim is cashflow. Capital gains would be nice, but not my motivator.
    My blog. From personal experience.
    http://statehousinginnz.wordpress.com/

  2. #2
    Join Date
    Sep 2014
    Posts
    432

    Default

    I'm no expert on the Southland market but Invercargill would be my bet if aiming to invest in Southland- a larger centre, less likely to rely on one industry (e.e. dairying) than smaller service centres such as Gore or Mataura. Prior to the "free fees" scheme you couldn't give property away down there, well almost.

    Craig

  3. #3

    Default

    Of those Palmy or Rotorua. Wanganui population declining, Kawerau, Seriously?, Southland, seriously? :-)

  4. #4
    Join Date
    Mar 2013
    Location
    Auckland
    Posts
    1,445

    Default

    Quote Originally Posted by Bobsyouruncle View Post
    Kawerau, Seriously?, Southland, seriously? :-)
    Until recently, I would have agreed with you. But I've heard whispers of change in the air. Hence putting it out there.
    My blog. From personal experience.
    http://statehousinginnz.wordpress.com/

  5. #5

    Default

    Unless there is toxic waste being put into the water supplies in every other town I just don't believe it :-).

  6. #6
    Join Date
    Mar 2008
    Location
    Auckland Wide
    Posts
    1,220

    Default

    Rotorua, Palmy. I would also think about Napier. I am actually doing a free presentation in Penrose on Thursday, about Napier if anyone is interested. http://www.mortgagesonline.co.nz/buy...-presentation/
    Hamish Patel | ph: 09 625 4693 | mob: 021 625 693
    My Website
    Be informed - register for our free monthly newsletter


  7. #7
    Join Date
    Sep 2008
    Location
    Tauranga
    Posts
    1,418

    Default

    Rotorua has taken a big step up. Values well up 21% this year, rents well up and lots going on.

    Knee deep in good tenants': Rotorua's 'horrifying' rental market gets worse

    http://www.nzherald.co.nz/rotorua-da...ectid=11880434

    Simon Anderson, chief executive of Realty Services, which operates Eves and Bayleys, said out of town renters looking for high quality homes were contributing to the rent increase.
    "A year ago it was very hard to rent a $500 a week property but now those are in high demand from out of towners wanting to move to Rotorua for work who are willing to pay a bit more.

  8. #8

    Default

    What have you tried with regards to getting finance for a relocation project?

  9. #9
    Join Date
    Oct 2015
    Location
    Auckland
    Posts
    290

    Default

    Quote Originally Posted by Viking View Post
    Rotorua has taken a big step up. Values well up 21% this year, rents well up and lots going on.

    Knee deep in good tenants': Rotorua's 'horrifying' rental market gets worse

    http://www.nzherald.co.nz/rotorua-da...ectid=11880434
    Article is just ordinary herald rubbish... I've got 3 beddie which I can't find tenants for. All I get is "single mothers of 5 with couple of dogs and $1000 in defaults" type of trash.

  10. #10

    Default

    That doesn't sound right AlFa, we have turnover but our Ngongotaha flats find reasonable tenants, our vacancy currently is basically zero. Maybe you need a new PM? Or are you in a real rough part?


 

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