- westanMember@westanJoin Date: 2002Post Count: 1,950
Hi to all interested in New Zealand.
I am interested to see how many people are planning to buy properties in NZ in 2005.
2004 was a huge year from property in NZ especially the invasion from Aussie investors, those of us who have travelled to NZ will be well aware that real estate agents have been overwhelmed by Australian buyers picking up as many cash positive properties as they can. With the invasion of investors prices have risen and as a result yeilds have dropped. Back in 2003, when people like Minimogul and myself first started suggesting on this forum that investors should buy in NZ, you could find deals all over the place showing 15-20% returns. Today deals in good areas showing over 10% are tougher to find. I sometimes get discouraged by the lower yeilds on offer. However after spending 4 weeks back home in Aussie over december on holidays i realised how good these returns are in comparison to what is on offer in Australia.
My advise to prospective buyers is that don’t go to NZ expecting to make quick capital gains, NZ while still cheap, has had very strong capital growth, in some areas 50-100% over the past 2 years. So if you are now buying be prepared to buy and hold for capital gains, i’m very confident that in the medium term you will have some nice capital gains, if you buy well now.
Secondly do your homework on the price you are paying and the expected rental returns. A lot of NZ property sellers are well aware of the Aussie interest in NZ and are more than happy to take your money at an over inflated price, so do your checks properly.
So all the best for those hoping to buy across the tasman in 2005. Now back to my original question how many people are expecting to be buyers in NZ in 2005 ?
I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our databasemuppetMember@muppetJoin Date: 2003Post Count: 900
An excellent summary. The deals are still there but you either have to wait patiently or hunt very hard.
In Tokoroa for example C21 have only 7 properties for sale as of last Friday compared to when I first started looking in mid 2003 when they had about 65 properties for sale.
I think the same applies to the other two agents in the town.
I did notice however that C21 had 14 empty houses for rent and Harvey’s had about 20. I think that is only because of the Xmas/New Year trend when a number of tenants leave and go on holiday so as not to pay rent. Interest will pick up later in the month.
RegardsPropertyGuruParticipant@propertyguruJoin Date: 2003Post Count: 1,502oziMember@oziJoin Date: 2004Post Count: 262
Thanks for the great summary! As you already know, I plan to purchase in NZ this year. I have booked my tickets, i’ll be arriving on the 9th Feb. I will be contacting you soon
ozyNobleoneMember@nobleoneJoin Date: 2004Post Count: 146
Count me in for some more NZ IP’s this year. [biggrin]
Cheers, Nobleone [jerry]
“Making mistakes is just another another tool for learning.”oziMember@oziJoin Date: 2004Post Count: 262
Sorry, could I hi-jack this thread and ask of those people who have purchased in NZ previously, if they are no longer buying in NZ, why that is?
I think it would be good to hear stories from both parties.
ozyyackMember@yackJoin Date: 2003Post Count: 1,206
Welcome back. I have no intention of buying in New Zealand. You know me – i only buy near my home.
As the yields are no longer good and there has already been alot of capital gain, now may be the time to move back to Aussie.PTinvestsMember@ptinvestsJoin Date: 2005Post Count: 8
I’m quite interested in the NZ market, but as you say, it needs a lot of research to make sure any deal makes sense.
Today is a new day. You will get out of it what you put into it.waz11Member@waz11Join Date: 2004Post Count: 35
I have been buying in NZ since March. Since then we have seen an average 30% increase on all our properties (5 houses & 1 block of units). The areas we have invested in seem to be still going as strong as ever and so we continue to use the equity to reinvest in NZ. All properties are +ve cashflow and we have had very little vacancies.
I will definelty be staying focused on NZ.
Waz11muppetMember@muppetJoin Date: 2003Post Count: 900wilandelMember@wilandelJoin Date: 2003Post Count: 761
I was one of the first aussies after Westan & Mini to be buying in NZ. We have found it to be fantastic, and VERY rewarding.
We are at present selling most or all that we have there, to take the profits, and move on.
We are currently buying a Queenslander in ************ (QLD of course), and plan to do a reno on it, but within about 12 months we plan to back in NZ in a BIG way.
Thats all from me, apart from saying that Yes, I agree that Rotorua is undervalued. We still own one there, (out of 3 that we originally bought), and I almost don’t want to take the profits, because I can see that it will just go ahead in leaps and bounds in the future.
Muppet, thanks for posting the propertytalk.co.nz thread, and great to see Mini on there !!!!
DelExplodeMember@explodeJoin Date: 2004Post Count: 1
[thumbsupanim] Settling on first NZ property on Friday. Going over on Wednesday. REA has 3 more lined up for us, all looking good.
Any assistance/advise with structuring and finance in NZ would be appreciated as only using cash at the moment.bootyliciousParticipant@bootyliciousJoin Date: 2004Post Count: 15
Me too I hope! I am looking for our first NZ property, just waiting to get finance organised.[thumbsupanim]lazyboyMember@lazyboyJoin Date: 2003Post Count: 23
I’m a kiwi (don’t hold that agaist me!) and have just sold all 10 of my IP’s. Not that I have lost faith in res property, I just think it will be a long time before we see any real captial gain after two very strong years. Most of my properties had doubled in the last 18 months so I’m taking the gains (tax free) and looking at other investments. My advice don’t expect CG for the next couple of years and you won’t be disapointed.LJHenryMember@ljhenryJoin Date: 2005Post Count: 2
I am very interested in gaining additional info on the NZ property Market. I am looking for +ve CF property and am not concentrating at all on the Capital Gains. I need a lot of info on this subject. If anyone is willing please help. I am very new to this forum thing. Go easy please.
Leigh[biggrin]diclemMember@diclemJoin Date: 2003Post Count: 537
Hi LJ Henry, any relation to Kaye Henry?!
(Where is Kaye Henry?)
Anyway, welcome and the first place I’d go for info on NZ property is the website that muppet posted the link for earlier in this post.
(The link is actually for the forum but you can navigate from there)
There is a heap of info for you to read.
You could also try a search of this forum as there have been enough new zealand posts to have you reading for days!
“Be careful not to step on the flowers when you’re reaching for the stars”workfreeMember@workfreeJoin Date: 2004Post Count: 10
Hi from Workfree
Could someone please tell me if it is
essential to go over to NZ to purchase IP.
If not then how do you do all the checks.
Cheers WorkfreeCastleDreamerParticipant@castledreamerJoin Date: 2003Post Count: 288
Hi there workfree,
no it is not essential to go to NZ to purchase a property, although that being the case you will need to do some homework here about areas and such that you might be interested in. Property spotters in NZ can assist you to purchase a house but they will not be able to make your decisions for you about area, finance, structure, type of property etc.
several of the property spotters on this forum have lists you can add email address to to receive deal info and updates. along with a search of the forum on NZ and New Zealand you can gather a lot of information and make a purchase without ever actually going to NZ – just needs a lot more research and homework here as you never see the place(some of which research can be reduced by leveraging off the time and knowledge of a property spotter)
“+CF properties in NZ available now, email CastleDreamer or Minimogul”mhugoMember@mhugoJoin Date: 2004Post Count: 9
Hi everyone, I will be going to NZ at beginning of March to visit my son, and would like to contact a “birddogger”. I lived in Wanganui for 14 years, and my son still lives there, and would like to purchase some CF properties, not necessarily for the capital gains. You can email me at [email protected]. All replies gratefully received.[blush2]