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  1. #1

    Question First investment: Rolleston, Lincoln? Other spots?

    Hi all,

    We're wanting to buy our first investment property, and have decided (pretty much...) to go with a stand-alone new house and hold for around 10 years. We're based in the Waikato but are considering a new build in Rolleston or Lincoln...any thoughts on the wisdom of this? Any other ideas on other parts of the country we could be looking at? Tauranga, Hamilton?

    Thanks everyone.

  2. #2
    Join Date
    May 2004
    Location
    Christchurch
    Posts
    540

    Default

    I would be very careful with new houses in Christchurch that it has been built up to scratch. There was the dodgy steel from China and lots of cowboy builders.

    There are a lot of homes coming on stream, mainly apartments and I think rents may drop or level off once saturation is reached. Family homes with a difference may still rent well. Rolleston has quite a few facilities now and town has moved that way but I personally wouldn’t want to live so far out of town.

  3. #3

    Default

    Thanks very much, hawkeye. We are considering a Stonewood house in Chch...any thoughts on that?

  4. #4

    Default

    Google "stonewood homes liquidation" and have a read. This was all very recent.

    The issue I see in ChCh is quite a bit of housing is coming to come online in the central areas so there is a lot of choice for tenants. I was down there last week talking to our property finder and having a look around and the city has changed. Post-quake, there was a lot of building in the satellite towns and tenants have a lot of choice in the suburbs now and I can see rents being flat there for a spell. In the medium to long term the city will fill up and you're away again so with your timelines this is probably moot. The rise will come in the centre first, as it always does.

    I would invest more centrally if it were me. You can't fix location. New or existing, both have pros and cons but close to the CBD is always good.
    Free online Property Investment Course from iFindProperty, a residential investment property agency.

  5. #5

    Default

    Thank you, Nick - much appreciated. I did know that about Stonewood, but I understand that the current Chch franchise owner was not involved.

    Interesting observations about the CBD and rentals - cheers.

    We are at the point of going round and round in circles!

  6. #6
    Join Date
    Jan 2010
    Location
    Hibiscus Coast
    Posts
    1,723

    Default

    Christchurch has more houses than tenants looking so I personally would stay away from there. We are going down there this Friday to look at some specialist earthquake repair work so will touch base with my real estate colleagues and suss out.

  7. #7

    Default

    Thanks very much, Meehole.


 

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