- Brisbane 04Participant@brisbane-04Join Date: 2004Post Count: 215
Hello, I’m just wanting to hear from people who have invested in this area or are looking at this area. Are there areas, streets or suburbs to avoid in invercargill.[blink][blink] Has this city reached its peak. Can anyone suggest a good real estate agent to speak to. What have been peoples experience in investing in Invercargill.
MartinmuppetMember@muppetJoin Date: 2003Post Count: 900
Send a PM to Westan and ask him. He is the guru with all the knowledge about Invercargill. He is sourcing property there all the time.
RegardsPursefattenerMember@pursefattenerJoin Date: 2004Post Count: 217
I have not invested in Invercargill but I have looked around at farms and commercial property some years ago.
The whole Southland region is like going back in time about 30-40 years
Yeah, get on to Westan
PursewestanMember@westanJoin Date: 2002Post Count: 1,950
Invercargill is The South Islands third largest city (pop 50,000) and was famous as NZ fastest declining city. Luckily the city is back on track.
This last weekend i actually wrote up a two page report on Invercargill for our clients. Sorry i don’t want to post it here. i think Invercargill’s future looks good. The new freezers works opens at the end of the year with its 450 or so jobs. New retailers are arriving all the time, Bunnings are currently looking for a site in invercargill also.
Pursue i think your a bit unkind to those lovely (backward ?) Southland people. But if you ment 40 years ago to a time when people lived in safety (very low crime), were basically honest, everyone had a job (very low unemployment), then yes thats southland. Pity they can’t do anything about the weather.
I live in Otago (south Island) moved here from Australia last year. It is cettainly colder here than OZ, i’m thinking about starting a campain to increase the amount of CFC’s people use so we can increase global warming.
As far as “no go” areas all cities have less popular areas and so does invercargill. However the lesser areas are not what i’d consider Bad areas. The only area not to buy would be the Large 4plex’s in Lithgow st.
The rental market is a little softer at the moment (last 10 weeks)however i think its starting to come back, i was there yesterday and things are moving. Homes must be warm to get tenants, winter in invercargill can get cold (a bit like Ballarat) so heating is essential. I own 2 homes in Invercargill.
I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our databaseQueenstownerMember@queenstownerJoin Date: 2004Post Count: 27
i’m Southland born and grew up in oz and can tell you that Southland is way ahead of alot of Oz in it’s field and that is farming, Invercargill is a service city to that industry and whoose fate rides with that.fee free polytech might have brought some zing to the city but it’s the state of the art dairy units, top producing sheep farmers and others that drive the economy.The only one 30/40 yrs behind is you for not buying a farm there when land was cheap.PursefattenerMember@pursefattenerJoin Date: 2004Post Count: 217
I,m interested to hear how the rental market is going here at the moment. How happy are those who have invested here?What has been your experience in investing in Invercargill?
ShawnMiniMogulParticipant@minimogulJoin Date: 2002Post Count: 1,414
Invercargill – yields around 11 percent on current prices, if you can get a tenant – as there may be an oversupply of certain types of rentals.
Capital gains potential – don’t know, as the long term trend of decline has been stopped and somewhat reversed by the ‘students study free’ trick the clever mayor has introduced, plus other clever marketing of the area. A reasonable size population of 50k odd (I think) means a lot of people (aussie investors!!!) are attracted to it for that fact alone. Fair enough.
but buying for capital gains? i don’t know.
It wouldn’t be the place I would be buying in for capital gains, that’s for sure.
rental yield? OK, maybe 11 percent is okayish given the town size and if you can get a reasonable property without much to do to it, and one in a good-ish area that will always have demand even if the town starts shrinking again like it had been for the last 12 years. (Yep. 12 years.)
But if you get stuck without a tenant then you have saddled yourself with a property that may go down in value. Just be careful and if you buy there get a second opinion from a rental manager not selling you the property as to your chances of getting a tenant.
joy to the world