Hi guys,
Im new to the NZ property market and some of my friends have been buying in Wanganui…
Does anyone know anything about that area and can you please give me your opinion/advice if its a good area to buy in?
Thank you kinldy
Natasha
Hi Natasha,
I have been looking at Wanganui myself for the past week. I thought about asking forum members, particularly NZ members, for advice but I didn’t want to name where I was looking at [
]
Well, now it’s out there and hopefully they’ll be some response…..[]
Keep smiling,
Sue“Be careful not to step on the flowers when you’re reaching for the stars”
Hi Guys
Now Wanganui, for a starter, Aussies have bought all the cheap high yield houses and so anybody entering the market has to dig a bit deeper.
However to build up some idea of the area have a look through these web links, some of which may be helpful.
Also by using the search facility at the top of the page and enter Wanganui you may find more information from past posts.
Regards
Thanks Muppet,
Have been a member of your site and learned very valuable information.
This link is great!
So much to take in, phew []
Cheers,
Sue []“Be careful not to step on the flowers when you’re reaching for the stars”
upppssss sorry Im not very good with these replies [
]Thanks Muppet, will have a look at this site.
Hi Guys
Try this site for rental stats for Wanganui.
Also Market Stats site.
Regards
Mmmmmmm…decline in median price.
Interesting…..
Sue []
Thanks again muppet.“Be careful not to step on the flowers when you’re reaching for the stars”
Hi,
If you’re an Australian investor then you will also need to have a plan about how you expatriate your profits.
Double-tax treaties can be complicated, and it is best to go into complex issues with some sound advice first.
As for the area… I think that it is good to do your research from home, but before you buy it is wise to visit the region to see first hand.
Regards,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Thanks Steve,
Sound advice…a little far to drive though []
Best option would be a working holiday, I guess.
Many people buy sight unseen, Ill admit I am a little uncomfortable with the idea.
Sue []“Be careful not to step on the flowers when you’re reaching for the stars”
Hi Guys
A few more figures about Wanganui.
The house price index for Wanganui startng with an index of 1000 in Dec 89 by Yr 13 Mar 03 the index is now 1084 with a ranking of 72 out 0f 74 authorities.
Also the population is estimated to drop by 6.9% in the period from 2001-2021.
As Steve says probably the best thing to do is make a trip to Wanganui to get a feel for the area. Cost is also tax deductible anyway.
Regards
Hi Muppet,
Can you please tell me where you get the figures for the population decreasing?
(For future reference)
Keep smiling and a merry christmas to you,
Sue []“Be careful not to step on the flowers when you’re reaching for the stars”
Thanks Muppet,
We might need to go to NZ to check it out…
Just one question, if you dont have any properties in NZ, can you still claim the trip as tax deductable?cheers
natasha[]hi guys,
Wanganui is a pretty and lively town of 45000 or so. There don’t seem to be many high yield properties over there right now, a few around 10 percent. i.e. neutrally geared after costs. So will there be capital gain? well there is some employment going in in Marton (small town nearby) and they might be developing the port, if they do, the town will *go off* like there’s no tomorrow.
Also, you can still buy absolute beachfront for as little as 55K or so. Now the banks might only give you 70 percent. because it (i guess due to the population thing) is considered a risk. The town itself I think you can get 80 percent.
Yet, I have heard that developers have bought waterfront land so even though at the moment it is a little bleak outdated kinda windswept beach, if you fast forward 5 or 10 years I am certain without a doubt you will not regret buying there now.
i.e. if you are investing in property for the long term i don’t think you can lose.re rental demand i heard that there is a glut of dumps for rent but a shortage of good quality rentals.
around the 70K mark you will get a tenant for 140 and a good area. 60K 120 per week, etc. close to town etc good schools. I would call those good pretty safe middle of the road type investments (for my criteria anyway.)
I recommend going there in person. You will be impressed!
cheers-
MiniHi I am a born and bred wanganui boy living in sydney now, no keep away from the place it’s a dump (by the way I have just purchased an investment proprty there, purchased for 35k beach fron, govt valuation 55k no money doen deposit, tenants longterm paying $100 per week, all my trips home now are tax deductible,Wanganui they call it the river city, I have a friend susie langmaid who is doing the reno thing i wanganui, she loves it, you think aussies are nice, move to wanganui.
be sure to do your due dilligence though I did, even though I know the area.
Steve
Hi Muppet, I checked out those links you posted, very handy! do you know where you can get this info for Australia? I checked out REIA and REINSW but it looks like you have to pay for that sort of info (although I may have missed something, i’m falling asleep at my computer)
‘There is only one success – to be able to spend your life in your own way.’
Thanks Mini for your comments,
insightful as always…
Steve…. I take it your post was a little tongue in cheek?
It’s a dump, but I bought there and the people are great……
Cheers,
Sue []“Be careful not to step on the flowers when you’re reaching for the stars”
yes tongue and cheek, wanganui is a beautiful place, plenty of oppt but do your due dilligence, some great people on this qurom can be god spotters.
Yes wanganui is a great place to live.
Steve
sorry everybody for my terrible spelling how do you do a spell check on these things.
steve
Download http://www.iespell.com/ It puts the little abc icon on your toolbar. It’s a freebie.
Fibejebe.
sorry everybody for my terrible spelling how do you do a spell check on these things.steve
steve,
congrats on the beachfront for 35K, was that recently?
Personally I have a vibe for Wanganui. Still enough people left to get tenants, jobs, pretty, cute. Water. but it’s hard to recommend it to other people because it *does* have a declining population. Best thing is to go there. just fly freedomair.co.nz into palmerston north and drive over. not far. about an hour I think or less maybe. freedomair is owned by Air NZ so quite legit airline.
*shrieks*
Yeah susielangmaid (who used to post on the forums quite a while back) and co, I met up with when i was in wanganui, amazing people and I can vouch for their most excellent workmanship and characters. Not to mention experience (isn’t it their 17th house????)cheers-
mini
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