I'm Buying Up In Invercargil NZ ... Where are you Buying?
- Thread starter kiwi
- Start date
Hi kiwi,
Ahhhh Invercargill
I bought a property there about a year ago on a 10.5% return. How are things looking down there? Anything exciting happening? What is your strategy? Buy & Hold? I think the city has a bright future if you hold long term (which is what I'm planning to do).
I'm currently looking at buying in Melbourne. Rental returns aren't great (3-4%) but I'm after capital growth and looking at developing.
Regards,
Ozi
Ahhhh Invercargill
I bought a property there about a year ago on a 10.5% return. How are things looking down there? Anything exciting happening? What is your strategy? Buy & Hold? I think the city has a bright future if you hold long term (which is what I'm planning to do). I'm currently looking at buying in Melbourne. Rental returns aren't great (3-4%) but I'm after capital growth and looking at developing.
Regards,
Ozi
texas
I am buying in Texas
The returns are good and so is the capital growth.
I am going to be running a real estate company there as of July.
I am buying in Texas
The returns are good and so is the capital growth.
I am going to be running a real estate company there as of July.
Hey Kiwi, purchased a 3br house in South Invercargill for 108k, tidy brick with aluminium windows, garage etc, rents for $190 per week, so a good deal I think. Other houses in the area are going for 120-130k.
I have contacts in most of NZ for property purchases, so it's all good as far as I'm concerned.
KI
I have contacts in most of NZ for property purchases, so it's all good as far as I'm concerned.
KI
Hey There Kiwi Investor,Kiwi Investor said:
Yep things are looking good for mid to long term ... International airport runways to be completed soon ... and good old Tim Shadbolt is using his creative skills again to get in the big 4 airlines with a $0 landing fee strucutre for 12 months .... Sounds good to me ...
PS Maka are building a new facility ther (Right down the road from one of my houses) and you know what sort of resources they use to study the growth trentds ... they don't just plonk macckas on the earth and hope for success ... they plan it!!!
Invercargill
Hi
Could you expand a bit on things down in Invercargill. Have spotted heaps of properties with good yields on some of the links provided. Whats the vacancy rates down there. Living on the most SW tip of Oz (Albany) with a huge resources boom which I wasn't in a position to capitalise on, was just wondering what other areas are looking up down there. Some mentioned oil, but is it actually going to happen. 100 kms from Albany there is one of the biggest oil or gas basins in Australia but noone is doing anything about it.
Like the cheap properties but its all pretty old stuff
Glenn
Hi
Could you expand a bit on things down in Invercargill. Have spotted heaps of properties with good yields on some of the links provided. Whats the vacancy rates down there. Living on the most SW tip of Oz (Albany) with a huge resources boom which I wasn't in a position to capitalise on, was just wondering what other areas are looking up down there. Some mentioned oil, but is it actually going to happen. 100 kms from Albany there is one of the biggest oil or gas basins in Australia but noone is doing anything about it.
Like the cheap properties but its all pretty old stuff
Glenn
Off topic posts about Vanuatu removed to thread Business in Vanuatu
yeah - but it's freezing this week -- just got back from the beach with the dogs - chilli
Very nice info leap, please keep us all posted about Invers, I think I also got that email from QV, just have not opened it yet, too busy with study for exams. Guys who live in Invers, can you tell me what the situation is with the Airport being made longer ? What impacts or benefits will this give ? Invers is close to Queenstown ? Yes ?
Cheers KI
Cheers KI
This post of Pitt St's is probably worth adding to this thread as well for anyone that missed it.
http://www.somersoft.com/forums/showpost.php?p=212748&postcount=23
http://www.somersoft.com/forums/showpost.php?p=212748&postcount=23
Hi there,
To answer questions: the airport runway extension to international length has been completed. Qantas has been in town recently for talks. Zero landing fees are being offered to any international carrier for the first year. Media reports a deal is close at hand to launch a Trans-Tasman link next winter. Invercargill is a reliable airport with low incidence of weather closure problems.
Proximity to Queenstown: easy two hour jaunt (even in my shopping trolley.) Preliminary census results: Invercargill population growing, but Queenstown's is exploding. Queenstown-Lakes District mayor Clive Geddes quoted in local paper saying "Queenstown's and Wanaka's success would also have spin-offs for Invercargill, which was an important service and supply centre for the lakes district." Invercargill is the nearest city to Queenstown. Dunedin is next closest at 3.5 hours drive. Much business conducted between Queenstown-Lakes district (est. pop. 32500) and Invercargill city (est. pop. 50500).
Oil rumours: High hopes for the Great South Basin. High Court case in May involving Australian company Bounty Oil cites 10% chance of 4.5 billion barrels of oil and 315 trillion cubic feet of gas, based on data to date. Gross sales could be worth US $800 million, Bounty said. ExxonMobil is in the chase and talking about setting up an LNG plant. New data to be released in August for the Great South Basin, and tenders for exploration permits likely to close in December. Southland also has about 75% of New Zealand's lignite deposit, which can be made into liquid fuel now. At least four companies in the chase, according to media sources.
Apologies for taking so long to reply to queries. Disclaimer: Please double-check any information supplied here with independent sources before relying upon it.
To answer questions: the airport runway extension to international length has been completed. Qantas has been in town recently for talks. Zero landing fees are being offered to any international carrier for the first year. Media reports a deal is close at hand to launch a Trans-Tasman link next winter. Invercargill is a reliable airport with low incidence of weather closure problems.
Proximity to Queenstown: easy two hour jaunt (even in my shopping trolley.) Preliminary census results: Invercargill population growing, but Queenstown's is exploding. Queenstown-Lakes District mayor Clive Geddes quoted in local paper saying "Queenstown's and Wanaka's success would also have spin-offs for Invercargill, which was an important service and supply centre for the lakes district." Invercargill is the nearest city to Queenstown. Dunedin is next closest at 3.5 hours drive. Much business conducted between Queenstown-Lakes district (est. pop. 32500) and Invercargill city (est. pop. 50500).
Oil rumours: High hopes for the Great South Basin. High Court case in May involving Australian company Bounty Oil cites 10% chance of 4.5 billion barrels of oil and 315 trillion cubic feet of gas, based on data to date. Gross sales could be worth US $800 million, Bounty said. ExxonMobil is in the chase and talking about setting up an LNG plant. New data to be released in August for the Great South Basin, and tenders for exploration permits likely to close in December. Southland also has about 75% of New Zealand's lignite deposit, which can be made into liquid fuel now. At least four companies in the chase, according to media sources.
Apologies for taking so long to reply to queries.
Disclaimer: Please double-check any information supplied here with independent sources before relying upon it.Thanks Leap, that's kinda what I expected, as you point out there will be spin offs for Invers with Qtown so close, 2 hours is not that far really, an easy day trip to see the Smelter and Mutton Bird Islands !!!
Hi Ani - they do it all the time ( a few times this week I think from the traffic I have noticed) but not by choice. The 737's fly into invers and the punters get bused up the mountain when the weather is bad - usually the fog is the problem.
Would the punters fly to invers - hmmmmm - we will have to wait and see. Age and income will have alot to do with it as well as what people had planned after the qt trip. As well the kind of deals that are put on the table. QTis the fastest growing region in NZ, the place is practically exploding at the seems but not everyone is dripping in cash - alot of wage earners live there as well - after all it was originally a service industries town.
Kiwi- Miami?? Any water views?
Update: The Great South Basin has been put up for tender for oil exploration. Tenders close in March. ExxonMobil and Shell have openly expressed interest. (Rumour rife that one of the town's most prominent and expensive homes has just been sold to an oil exec. hehe) Average Invercargill house price now $147,157. Average rent for a 3 bedroom house is $183 a week. Average days on market 22 (national average days on market currently 35). Real estate agents reporting busiest sales winter in three years.
yes - we heard that rumor too! I wonder how they start - surely we could do a search if we knew the address - I spoke to a property manager a while back who told me they had just leased a furnished home on queens drive for 450 per week , not bad when median rent is 180 as you say.
