PMI NZ Property Update

Thanks for the link guys. Good to see some hard numbers floating around the forum. Where we are in Southland at the moment there has definitely been a correction. Which has meant there are quite a few more cahsflow opportunities around at the moment. Lower end properties with maintenance issues are not moving at all. The better stock is moving well.

I just spoke to an angent who said he is selling two portfolios of aussie investors. One had 10 properties and the other 9. He Stated that the cashflow expections had not come through and the vendor was in one case faced with a 20k maintenance bill that they had not planned for and could not afford.

Locals from the property association who have been siting on their hands for 18 months are back in the market and buying “well”.

We are doing a 8 week trip of the taranaki and King country. All our agents up there have been telling us that things are back to normal again and there are more genuine opportunities around. Could just be agent speak for come up here and buy something but we will see when we get there.

Cheers