- gianniMember@gianniJoin Date: 2002Post Count: 6
any hints on suburbs that are good rental properties with + cash flow in NZ…..just so i can start doing some home work….
giannirecoverymanMember@recoverymanJoin Date: 2003Post Count: 122
there some good ones and the end of the south island and in the middle of the north island
depends on what you looking for and how much you want to spend
just need to find what the employment is like so you are sure of letting out your PI
I have been using the phone
which is not that expensive when you get
good info on the town, I phone realestate and banks
recoverymantamaraMember@tamaraJoin Date: 2003Post Count: 56
Hi we only have on in nz at the moment. It cost 140K and is being rented out at $250pw. As we have owned it approx 6 years it has had CG of about 25k. It is located in the outer suburbs of Auckland.
It has only been vacant for about 8 weeks in that time.
I suggest that you can find them in you designated part of nz. Just do your due dilligence and it will help guide you
TamaraaiyaazParticipant@aiyaazJoin Date: 2003Post Count: 2
Mt roskill in AKL is a good spotMiniMogulParticipant@minimogulJoin Date: 2002Post Count: 1,414
suburbs as in, of cities?
New Brighton in Christchurch, according to the Kiwi Property Investor magazine – can still purchase for around 200K and is poised to go up re: revamping of seaside suburb – I think it will become the ‘saint kilda’ of the South Island – give it a few years.
KPI magazine (kiwi property investor) has all the stats, all the facts – like I keep saying here, subscribe to it, get it, if you are in NZ and living in Aus it’s a very good way to keep up with property matters over there. They have monthly data, articles, as well as lots of ads for (i.e.) people that set up structures, lenders, etc etc etc
i’m going back to NZ in sept (we need to sort out where we are going to live etc for next year). i will also look at buying some more properties. a friend who is a Kiwi from the North Isand suggested i look at areas such at Wairoa, Hawera (near where you have been buying i think) and also Tokoroa and Huntley. What can you tell me, is there anything special about these areas or are there many places that a just as good?
regards westanRodCMember@rodcJoin Date: 2002Post Count: 335
I’d also be interested in you thoughts on those areas. Also do you have any recommendations for accountants in that area. I’m also tentatively planning a trip for Sept, but would like to get as much as possible set up before hand (investment structure etc.).
Rod.QueenBeeMember@queenbeeJoin Date: 2003Post Count: 12
i lived in hawera for a year, has pop of approx 10k, good solid farming community, stable, mainly dairy farms, near oil & gas fields (although i hear that the gas to gasoline plant is facing problems), close to Mt Egmont/Mt Taranaki (attracts tourists & locals), has a hospital, provides products & services to the farming community. good spot. hope this helps.
Cheers, QBtamaraMember@tamaraJoin Date: 2003Post Count: 56
Huntly is a small town about 1 hour south of Auckland and about 1/2hr north of Hamilton. It is one of the significant communities for the Tainui Iwi. It has a number of busness’ that have relied on State Highway 1 travelling through it. The very near future will see the highway move right out of town. What that will mean for the business community I am unsure.
Unemployment is quite high and a number of houses are built on land near/ over underground mining setups. I am sure that if you look up the Waikato District Council their web site will give you more information.
I hope that gives you are start.
Tamarag00dmanMember@g00dmanJoin Date: 2003Post Count: 8
I am only new to the investing fourm, but I have been looking at property in palmerston north as my brother lives down there and I Have been there myself.
the property’s down there still cost around the 100k plus region and are nice enough to be positivley geared(?) I think the rent that way is about 200 a week..?davo70Member@davo70Join Date: 2003Post Count: 56
This is a dumb question. I have been talking to the other half about possibly buying in NZ. Apart from the fear of buying so far away from where we live. We are not sure what sort of fees apply for buying in NZ.
I am aware of all the costs here in Australia like stamp duty, contract duty, conveyancing, registration fees and of course bank fees but what does it cost in NZ to buy?
Any help would be appreciated.
Davo70DavidUMember@daviduJoin Date: 2001Post Count: 101
Basically NOTHING… Well not much anyway
No stamp duty on loan
No stamp duty on mortgage
Costs will be:
Application fee for loan
Inspection costs; building, pest and LIM
Minimal settlement fees
That’s about it!!
P.S also NO capital gain tax if it’s bought as a long term buy and hold
David Udavo70Member@davo70Join Date: 2003Post Count: 56
Thanks David U
Just one more question. Which banks do you guys deal with in relation to this NZ or Aussie banks?
thanks for the comments about those areas i asked about.
Davo70 i’ve used a new zealand bank BNZ (owned by our NAB) got $0 application costs on the loan. Interest rates are a bit higher in New Zealand than Oz.
Rod C when would you be going to NZ i’ll be leaving about the 21st. Check out Emerites airlines return to Auckland only $376 compared to 650+ with airNZ and qantas, also look at freedomair.co.nz for cheap flights often 450 return but not the choice of destinations.
For interest rates in NZ check out the http://www.interest.co.nz/mortgages.html site.This site is updated everyday and you can contact the lenders directly. My last house bought in Jan cost me about NZ$1300 in lawyers fees. That was a house in Manuwera, South Auckland.Cost $160000 and the tenant is paying $270 per week.I do have a Property Manager looking after it as I live in the King Country about 250kms away.
Remember four of the major banks in NZ are Australian offshoots.
I use a mortgage broker to source my loans for me.
Hey Westan those Lotto numbers you posted last week were hopeless. I saved my $5.
Hell that quick. Sitting here and thinking about places to buy in, I have a comment for Tamara in regards to Huntly. You are correct in what you say about it hi unemployment etc. However my thoughts on the new motorway bypassing Huntly is that in time Huntly will become an outer suburb of Auckalnd because the new road will allow quick travel between the two places. This will mean that places in Huntly will appreciate in value.
Other suburbs for all you others to consider include Te Puke just outside Tauranga and the Mount.
Mini has already suggested Marton.
Opotiki further along the coast from Whakatane I have heard is already starting to attract attention.
Palmerston North has also been mentioned. This city has Massey University in its midst. Hence it has a large student population.
Another point to consider is that the incidence of home ownership in NZ is going down. About 33% of NZers now rent.
Dannevirke is another place that has reasonably cheap houses
Consider also that these small towns have their good and bad streets/areas and this affects prices paid and rents that can be charged.
Keep the comments coming and if I can I’ll think up something else to say.
appreciate your comments heaps.
sorry about those lotto numbers, meant to tell you they were ours (in OZ). Where the heck is “king Country” we have “queen ccountry” here its Sydney.
That legal cost seemed high i paid about 700 i think plus 150 for the LIM.
Oh well we can’t win Lotto everyday. Roll on the Rugby World Cup.
The King Country is an area in the central North Island. The main two towns are Taumarunui (pop about 4500) and Te Kuiti (pop about 5500).
The best skiing in NZ (ha ha) is only about 50kms from Taumarunui on Mt Ruapehu. I am taking my school there next week costing the kids about $12 each for the day skiing.
Lake Taupo which has the best trout fishing in the world is also only about 50kms away as well.
Deer stalking and pig hunting is also to be found not far away.
Taumarunui has a high unemployment rate. Houses rent for about $80-$120 a week.
Ask Mini how she is doing with her house?
I noticed this week for the first time a Prop Man advertising for tenants in Taumarunui. Not sure what this means though.
Another small country town to consider is Taihape.
Then there is Otorohanga about 60kms south of Hamilton. And there is Te Awamutu just south of Hamilton.
There are alot of small towns in the Waikato of which Hamilton is the biggest.
Hamilton has a pop of about 140000 but alot of building is going on there.
Just north of Hamilton is Ngaruawahia which basically is an outlying suburb of Hamilton.
To research the houses that are available in these places use http://www.realenz.co.nz. 40000 houses for sale in NZ are listed on this site and nearly all the big Estate Agents use it.
RegardsSooshieMember@sooshieJoin Date: 2002Post Count: 974
David U, could you please explain a bit more about the CGT component, as I thought as an Aussie investor you consider the property like an overseas investment and that you are still responsible to pay CGT on Aussie terms…
I think I need some clarification here…
“small steps make the journey” (SAS)
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