I travel to New Zealand a few times a year ….mostly the South Island….. and am now doing the hard yards in researching a few markets that i do some work in….. namely Christchurch, Dunedin and Queenstown.
Just wondering if anyone else has bought in NZ in recent times…..????
I've found a couple of places in Christchurch that have a return of over 9%….. one of which is in an OK area close to the city
and the rugby arena.
Throw in the strong Oz dollar and i'm wondering if NZ is starting to look to Aussies again?I’m originally from Christchurch and have previously owned a house there.
I think that the earthquakes (which are still happening btw) will have too much of an impact on the property market.
It is now very hard to get insurance and they expect the earthquakes will continue. There is great uncertainty there, my father is a retailer in Christchurch and there is very little money being spent there. I expect that if the earthquakes continue as they have been, many people will move elsewhere and very few people would be willing to move there.
The medium-long term prospects of property growth there are minimal.
Thanks for the reply Matt…….. I feel you on the mood of gloom…… Post earthquake concerns and flat market, however you are now getting to the stage because of those factors where some property in some fair suburbs is inching toward a 10% return.
For a good NZ contact try MHVentures. – Mark Honeybone. He is based in Blenheim but has a fantastic knowledge of the Sth Island and investment properties for investors. Did a block of flats deal with Mark this time last year and he is the genuine deal. Nice chap. Try this link http://cashflow.vpweb.com/default.html
Thanks very much Ian, embarassed about your good words, i just do my best.
Yes, with the exchange rate like it is now, investing in NZ for you Ausys is just tops, just think when the exchange rate gets a little more even again and the market turns. Thats incredible gains you will receive from over there.
Be careful of where you get the great yields, you have to sell again one day.If you are looking for properties in NZ and want some info let me know and I will see if I can help, or at least send you in the right direction. if you want to go on my list of new properties I have, let me know and I will do so. I specialise in cashflow properties, but like one I have now I sometimes get very good equity as well.
You can skype me anytime, puffster1.
Thanks.
Mark
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