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  1. #1
    Join Date
    Sep 2004
    Location
    Hastings
    Posts
    14,134

    Default Who Has Sold How Many?

    Can we get some hard number data on this? PIs 'say' they're selling up, but how many actually are and how many houses have been sold? Case in point . . .

    Napier rental squeeze leaves families in 'absolute desperation'
    Hawke's Bay Properties director Dee Penno said that the proposed new requirements for rental properties, such as insulation and heating, would make the situation worse. A lot of landlords had sold up over the last 18 months, because of the buoyant market in Hawke's Bay, she said. And she predicted it would only get worse, if stricter requirements for rental properties came into force.
    How many is a lot of LLs and how many is a lot of houses?
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  2. #2

    Default

    My PM who manages (my guess) around 100 properties has told me 4-5 landlords have recently (last 45 days) called it quits. Probably be 5-8 tenancies.

  3. #3
    Join Date
    Sep 2004
    Location
    Hastings
    Posts
    14,134

    Default

    Thanks.

    Is it possible to get real, actual, substantive figures? If so, how?

    Davo said much the same, in another thread.

    If there is ever any chance of reining in the misty-eyed, wishful-thinking, self-deceiving socialists, it is only with real numbers - hard data.
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  4. #4

    Default

    I don't think you can. You can look at differences in #'s of bonds lodged but many tenants aren't moving because housing is hard so that can be a poor indication.

    I've hear anecdotally that some large landlords are getting into sell mode, which could really have an impact. 20+ rentals at a pop.

    I'm happy to keep buying and expanding. I am as careful with cashflow as always. I do need to build up a cash buffer so might look to do a few trades next year, mind you I said that last year and found a great project so who knows.
    Last edited by Nick G; 30-09-2018 at 11:38 PM.
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  5. #5
    Join Date
    Sep 2004
    Location
    Hastings
    Posts
    14,134

    Default

    Well, could a survey of PM companies glean some insights?
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  6. #6
    Join Date
    May 2004
    Posts
    2,561

    Default

    Some numbers from realestate.co.nz, summarised at the below link - new listings up so somebody is selling.

    There has been a significant rise in new property listings coming on to the housing market, according to the latest data from Realestate.co.nz. The property website’s data shows that nationally, there were 10,372 new property listings in September. This is an increase of 11.7% on September last year – and, apart from 2015, the highest number the website has seen in a September month since -+2009.

    http://www.landlords.co.nz/article/6...istings-deluge

  7. #7
    Join Date
    Nov 2015
    Posts
    194

    Default

    I have scrapped plans for a 3rd property and have 1 signed S&P and 1 still on the market.

    Wiping my hands of it and getting out.
    Insulation was done 2.5 years ago and a heater purchased a year ago for each property, so tried to stay ahead of the game. But new changes will remove cashflow for the next couple of years unless I hike rents significantly, which I dont particularly want to do as tenants have been great.

    Have shown how tenants can buy the last property at equal to, or lower than current rent at what I would consider a very fair price to them, so trying to give them options.

    But that's 2 properties you can notch up to Govt fixing.

    I'm surprised Micheal isnt here trying to berate LL for getting out.

  8. #8
    Join Date
    Jun 2004
    Posts
    10,099

    Default

    Quote Originally Posted by Sportsvee View Post
    I have scrapped plans for a 3rd property and have 1 signed S&P and 1 still on the market.

    Wiping my hands of it and getting out.
    Insulation was done 2.5 years ago and a heater purchased a year ago for each property, so tried to stay ahead of the game. But new changes will remove cashflow for the next couple of years unless I hike rents significantly, which I dont particularly want to do as tenants have been great.

    Have shown how tenants can buy the last property at equal to, or lower than current rent at what I would consider a very fair price to them, so trying to give them options.

    But that's 2 properties you can notch up to Govt fixing.

    I'm surprised Micheal isnt here trying to berate LL for getting out.
    How are you intending to meet your investing goals instead?

  9. #9
    Join Date
    Nov 2015
    Posts
    194

    Default

    Quote Originally Posted by Wayne View Post
    How are you intending to meet your investing goals instead?
    Have funds on a fixed interest rate (currently 6.75% before tax) that pays monthly that feed my monthly ETF contributions. As I save more I will get greater monthly contributions which will either go into new ETFs or increase the current ones. And I keep my principal.

    1st sale will wipe out the mortgage and 2nd sale will be pure profit which will either go into a new home for us, or be invested.

    Outgoings minimised (no mortgage, rates, insurance, PM, etc) so more to keep.

    Is it the best way? Maybe not, who knows. But the money is still working for me.

  10. #10
    Join Date
    Jun 2004
    Posts
    10,099

    Default

    Quote Originally Posted by Sportsvee View Post
    Have funds on a fixed interest rate (currently 6.75% before tax) that pays monthly that feed my monthly ETF contributions. As I save more I will get greater monthly contributions which will either go into new ETFs or increase the current ones. And I keep my principal.

    1st sale will wipe out the mortgage and 2nd sale will be pure profit which will either go into a new home for us, or be invested.

    Outgoings minimised (no mortgage, rates, insurance, PM, etc) so more to keep.

    Is it the best way? Maybe not, who knows. But the money is still working for me.
    Like me you have made your money via leverage and can now afford to have less leveraged investments.
    Those starting, I think, will still do property because they have little money to invest.

    6.75% - what's that in?


 

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