Think Steve may be the best one to answer this!!
Seriously – we have been looking in the area and have lined up some good deals. Can’t find any stats on the rental website re market rents and demand though. Is demand high in this area? don’t want to buy if we can’t find tenants.
Your thoughts please fellow investors[confused2]Hi Rob and Jo
Have you done a search on http://www.propertytalk.co.nz as Tokoroa comes up reasonably frequently.
Location often dictates as to how fast a house rents out for.
Some streets are very slow to rent in. eg Marr Pl and other areas have waiting lists eg the Wai area or the North area.
For average rents in Tokoroa try this site:
http://www.dbh.govt.nz/housing/tenancy/Market-Rent/market%20rent%20detail.asp?Area=Waikato+%2D+South+Waikato+DistrictRegards
Just as important see how much banks will now lend in these areas. People who invested there 18 months ago made money but not now. Remember it is possible to oversupply an area with investment properties.
Nigel Kibel
http://www.propertyknowhow.com.au
Australian and New Zealand Buyers advocate
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Hi Nigel
You said:
Remember it is possible to oversupply an area with investment properties.Interesting comment.
For there to be an oversupply of investment properties can arise when
1. the live-in owners sell to an investor and leave the district.
2. prospective tenants leave the district.
3. prospective tenants decide to move in with others.
4. lots of investment properties are being built.and probably there are many more reasons.
However in Tokoroa little if any houses are being built.
The cheese factory will be employing again shortly as the season gets under way.
The CHH mill is working at capacity.
There is a relatively high number of welfare beneficaries who find the cheaper living in Tokoroa of benefit.
A number of retired people are selling up in Auckland and Tauranga and buying more expensive property in Tokoroa and hence releasing the high equity that they held in their original property.
More people realising how central Tokoroa is to the rest of the North Island.Regards
Fair point
Do you think that there will be any capital growth there in the short to medium term. Because if everyone buys there you can certainly artifically inflate the values
Nigel Kibel
http://www.propertyknowhow.com.au
Australian and New Zealand Buyers advocate
service and seminarsNigel Kibel | Property Know How
http://propertyknowhow.com.au
Email Me | Phone MeWe have just launched a new website join our membership today
Hi Nigel
You said:
Because if everyone buys there you can certainly artifically inflate the valuesThis can apply to anywhere in the country.
Regards
Hi All
I tend to agree with Muppet. I think Tok is a great place to invest and has good CG at the moment. It is not a one horse town and has a varied work environment that doesn’t just rely on a single industry.
Although it has a few properties for rental at the moment the good areas are still attracting tenants.
If anyone is buying at the moment and are a bit worried in regard to finding a tenant, then buy a place with a sitting tenant. This will give you a buffer to get settled in, plus a lot of people don’t want to move in winter. So a place with a tenant already there is a safer bet.
Kerwyn.PS: I know of a great deal going in Tok at the moment if anyone is interested, drop me a PM and I will let you know.
vested interest in your post kerwyn
when the going gets weird the weird turn pro
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