- rufusMember@rufusJoin Date: 2004Post Count: 3
Looking at investing in or around Dunedin. + cashflow, as i am already -geared in Newcastle & am feeling the pinch.
I have read what Brent & a few others have said and was very interested. Does anyone out there know the Dunedin market or point me in the right direction.
I’ve lived in Dunedin for the last six years as a student and had kept a keen eye on the market. Just when I left the market was taking off and yields had moved from around 9% to 7%. The student area (north dunedin) is the best bet in my belief. Aim for smaller flats eg 2,3 or 4 bedroom as opposed to the large 7 or 8 bedroom places. These smaller flats seem to attract more decent tenants. If you can buy some small flats with 2-3 rooms which are upmarket they will make great renting to overseas students who like such places and are generally willing to pay slightly higher rents. Important factors will also be proximity to the university (try for within a few blocks), and proximity to the Octagon (town centre). You may find pre-furnishing the flats allows for elevated rents also, and will also be popular with the overseas market. Space for cars is also important to overseas students generally. You’ll find these students are far more likely to be quiet, non-partying, respectful tenants.
If I can help anymore just ask.
Just as a further point, despite the fall in yields, 10% is still not that hard to find or create with a little paint and carpet.
SigeoMember@geoJoin Date: 2003Post Count: 1,194
yeah i was just there – looks positive – has gone up rapidly in the past 12 months…however, looks like it will increase for a short period then stop. Rent returns is also very good over in the Southos but only for a limited time I would assume.
“If You never never ask, you’ll never never know”a_workaholicParticipant@a_workaholicJoin Date: 2004Post Count: 15
check out our web site….www.bevstewart.co.nz any equeries regarding the nz market are welcomeZingMember@zingJoin Date: 2004Post Count: 5
any one know of good sits with maps of NZ and statistics..?
[blush2]tamaraMember@tamaraJoin Date: 2003Post Count: 56geoMember@geoJoin Date: 2003Post Count: 1,194
for further info on the South – try talkin to Westan – he’s very helpful – however he’s on holiday for the next two weeks up North
“If You never never ask, you’ll never never know”