NZ - Which island is better North or South

Viewing 7 posts - 1 through 7 (of 7 total)

hotshot
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@hotshot
Join Date: 2004
Post Count: 52
July 1, 2004 - 5:03 am
hi just wonder which island is better to buy in north or south NZ? and why?
Thanx everyone
Tom
westan
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@westan
Join Date: 2002
Post Count: 1,950
July 1, 2004 - 7:23 am
Which is better Victoria or NSW ? why ?
sorry- see how difficult this question is. I’ll attempt to answer it later, i have to run.
regards westan
muppet
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@muppet
Join Date: 2003
Post Count: 900
July 1, 2004 - 9:29 am
Hi Hotshot
Interesting question.
3/4 of NZ’s population live in the North Island.
That is 3m to 1m.
Westan lives in the South Island but sources property in both islands.
I live in the North Island and all my IPs are in the North Isalnd but in various parts of it.
So most of the jobs are in the north but there is a better live style in the south.
Toss a coin and you will get heads or tails so personal choice.
Regards
GreatPig
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@greatpig
Join Date: 2004
Post Count: 284
July 1, 2004 - 12:38 pm
Muppet,
Originally posted by muppet:
there is a better live style in the south
Why do you say that?
GP
westan
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@westan
Join Date: 2002
Post Count: 1,950
July 2, 2004 - 12:36 am
Hi guys
To answer this question we need to ask what are you hoping to achieve. Is it cah flow, capital growth or a blend on both?
Having said that
it’s not a far question to ask which is better the north or the south. The market isn’t that simple. Some areas like Wanaka, Dunedin, Nelson which are all in the south have had some of the most spectacular capital growth in the past 12 months. Where as there are areas (some very small town) that you need to be careful if you are wanting to invest in the South Island.
For the North Island which is the economic powerhouse of NZ is the area from Auckland to Hamilton to Tauranga. The Bay of plenty, Taupo and Napier has seen some great price growth and may continue to also. Some areas though have lost large portions of there population such as Tokoroa. Some area of NZ are now fully priced i think but other areas will continue to show capital growth. There are also areas where you ahve to be careful with the types of tenants you get. I remember one Banker saying to me the further north you go the worse the tenant. While this is an exageration there is some truth to it.
The ANZ bank for instance will not give 80% (max 70%) finance to some places such as large areas of Wanganui, Flaxmere (Hastings) and Tokoroa.
I think the question needs to be asked which are the better areas to invest (irrespective of island) and what you hope to achieve through your investments.
Hope this helps a little
regards westan
BZP
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@bzp
Join Date: 2003
Post Count: 7
July 2, 2004 - 3:27 am
I would go Noth on your first deal, or if I was to invest in the south I would look into Christchurch, this would have to be one of the only major city’s still lagging behind in terms of growht.If your looking for +ive cshflw properties then this country is a gold mine.
a_workaholic
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@a_workaholic
Join Date: 2004
Post Count: 15
July 3, 2004 - 5:12 am
I think both Islands have alot to offer investors and that in the end it’s all down to personal choice…..but if your thinking about investing in the south check out my partner and mother in laws web site http://www.bevstewart.co.nz …..it may be of some help…..
Cheers
Annette.