Hi I’m a very new investor looking at buying into the christchurch area. Mainly because I know the town pretty well and have a relative in the real estate game there. I would really love some advise from anyone out there who has invested in the past and who knows the market. Is it a good time or have I missed the boat. I already have a freehold home there and thought I might use the equity to start investing. Thoughts?
[grad]Hi djmetz
Christchurch is a great spot, and growing in population, soon it will be bigger than Wellington. There are heaps of developments happening all the time, so its a center worth looking at.
Prices have risen a lot over the past couple of years but if you are creative you can still find some deals.
Castledreamer on this forum has just moved to Christchurch, she would be the expert.regards westan
http://www.nzpropertytogo.com
check it out !There is no time like the present to invest!
From the little I have seen of chch I would invest in the outer districts, higher return for lower capital outlay!
Good luck and happy investing
Thanks to all for the advise on Christchurch. You’ve just confirmed my belief that it’s still a good place to find positively geared properties. I’ll let you know how things go after my upcoming trip there in about a month. Bring on the Bargains!!![biggrin]
Hi Djmetz,
I would have to agree with the others on the southern city. If you have not been there for a while grab one of the crazy $38 Flights and spend a few days having a look around.
Castledreamer lives up that way. What you really want is someone who has the local connections not only to find a deal but make things happen for once the deal is done.
It is a city on the move and well worth further investigation.
Cheers
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Hiya, true red and black Crusader here. We have property in Christchurch even though we no longer live there and I’m of the opinion that the growth there will continue at a pleasant 9-10%. However I’d be hard pressed to find a positive cashflow property right now without injecting a sizeable deposit.
My picks for the areas to buy in: Sydenham (undervalued – close to town and some neat old houses)
Burnside – you’ll always be able to rent due to being in the Burnside High zone
Beckenham – not quite the hills but close enough to command good prices
Dallington/Shirley/Burwood – good middle of the road suburbs with some very nice streets, seen as safe areas and good for families. Having said that, avoid any part of Shirley with State housing.Hope this is kind of helpful
Anne (ex Real Estate Salesperson and current landlord)
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