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  1. #101

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    With 3br townhouse rents for tidy properties at $450/wk (without new kitchen/bathrooms) this could be a good starter for someone looking for an investment. With a small amount of effort you could get yourself a 10% yield.

    Allowing $25k for carpet/internal paint/heat pumps and unforeseen tidy up work (it is a mortgagee sale) an offer of $440k would end up with a 10% Gross Yield


    I have no financial interest in this property.

    https://www.trademe.co.nz/property/r...2054817762.htm

  2. #102

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    Total available properties for rent = 28 not far from the lowest level of rentals I've recorded here which was 23. Nothing really on offer if your looking under the $400-$500/wk mark and if you have a larger family you won't be spending less than $500/wk.

    The breakdown by no. bedrooms:

    Below $300 = NONE
    $301 - $400 = 2 (one 3br one 2 br)
    $401 - $500 = 5 (3x3br 1x2br & 1x1br)
    $501 - $600 = 6 (1x4br 4x3br 1x2br)
    $601 - $700 = 5 (1x4br 4x3br)
    $701 - $800 = 6 (4x4br 2x3br)
    $801 - $900 = 4 (2x5br 1x4br 1x3br)
    Last edited by Don't believe the Hype; 22-05-2019 at 09:17 AM.

  3. #103

    Default

    Quote Originally Posted by Don't believe the Hype View Post
    Rentals - listed 24 of which 1 is a room in a house, 2 are short term 6mths or less, 1 is a listing with no photos and has been up since sept. Excluding these there are 21 options, one 1br at $250/wk then next cheapest option is a 2br for $435/wk wit the cheapest 3br at $495/wk.

    The date on the quote was early Jan... Now early June we're back at 24 available after increasing to mid 30's for a while.

    Then 1br $245/wk now there are 2 on offer $320/wk and $330/wk
    Then 2br $435/wk now the cheapest is $360/wk
    Then 3br $495/wk now the cheapest is $420/wk next one $450/wk then $470/wk

    So pricing seems to have stabilised if you're not after a 1br but options are limited with only 5 properties under $500/wk (actually under $520/wk)

    9 of the 24 properties listed are over $650/wk
    Last edited by Don't believe the Hype; 04-06-2019 at 09:25 AM.

  4. #104

    Default

    One month later and the no. of properties available to rent has almost doubled to 47 of the 47 only 10 are under $400/wk but some are far cheaper than we've seen in recent months with 4x 3br options so for those prepared to move mid winter you could scoop a bargain.

    1br - one listed at $200/wk fully furnished - under the owners home. The next cheapest 1br is $320/wk
    2br - the cheapest is listed at $380/wk - one at $385 and one at $400 then up to $450+
    3br - This is where there has been a lot of listings there are 3 options under $400/wk. For under $400 you can get an ex state 3br townhouse at $360/wk, $370/wk, $390/wk with varying levels of preparation from just a clean to a new internal paint to paint and carpet.

    9 of the 47 listed are between $400 - $499/wk
    18 of the 47 listed are between $500 - $650/wk
    10 of the 47 listed are over $650+/wk

  5. #105

    Default

    No. of listings has pulled back a bit from the start of July at 39

    - Only 2 below $400/wk
    - A further 8 between $400 and $500/wk
    - Only 7 between $500 & $600/wk
    - The middle 1/3 being between $530-$685/wk
    - The top 1/3 being above $685


    Looking only at 3br+ there are 33 in total

    - Only 1 below $400/wk
    - A further 5 between $400 and $500/wk
    - Only 6 between $500 & $600/wk
    - The middle 1/3 being between $550-$695/wk
    - The top 1/3 being above $695
    Last edited by Don't believe the Hype; 21-07-2019 at 07:45 AM.

  6. #106
    Join Date
    May 2004
    Posts
    2,794

    Default

    Interesting Oral Q+A in the House yesterday - what does it mean?

    Hon Simon Bridges: In light of the median rent increasing by $50 under her watch, does she now agree with the advice of her officials that her Government's policies, such as higher taxes and regulations on landlords, would drive up rents?

    Rt Hon JACINDA ARDERN: No.

  7. #107
    Join Date
    Sep 2004
    Location
    Hastings
    Posts
    14,876

    Default

    Taxcindarella with head in sand?

    Seems like it.

    Never let the facts (and officials opinions) get in the way of good bit of political denial and obfuscation, eh?

    T'was a very badly worded question by the broken bridge, as well.
    Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

  8. #108

    Default

    Quote Originally Posted by Don't believe the Hype View Post
    Total Wellington region has only 70 properties for rent that are 3br+ and under $500/wk.
    The above data was from mid Nov18

    Current no. is 46 available rentals 3br+ under $500/wk in the Wellington Region a reduction of 1/3 in 8 months.


    https://www.stuff.co.nz/dominion-pos...60-in-one-year

  9. #109

    Default

    Quote Originally Posted by Don't believe the Hype View Post
    From 17-Jan-19

    Of note is that the lower end areas are seeing 3br townhouses asking $430 and $440 per week which is a big jump even on 6 months ago where these were renting for $380/wk.

    These same townhouses now updated to meet the new HHG requirements that all rentals must meet by 2021 are asking $495. This is $115/wk up from June 18 (up 30%)

  10. #110

    Default

    A couple of low priced properties on the market this week. It seems there are 2 distinct types of properties coming to market - the traditional SLUM - full 60's style no upgrades not even new carpet 3br townhouses renting for $350-$400/wk while upgrades and HHG compliant properties are now listing for $480-$500/wk


    On a separate note looking at properties for sale there seems to be a HUGE shortage of properties in Porirua - historically they've sat around 200 on the market at any one time - last few weeks they were sitting around 130 and today I noticed they're down to 102 properties for sale. Filtering out the sections/house and land packages there is only about 70 houses ready for occupation that are on the market in Porirua.

    With this low level of listings and new CV's Sept 19 (released to market Dec19) will we see continued solid capital appreciation?


 

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