New Zealand property-a currency play?

[MarkB]

Why restrict yourself to the bottom of the South Island guys. If I was OZ based and investing in NZ I would be sticking to main centres. We are just coming into a slump and the smaller towns could be hit hard. Forget Invercargill or Dunedin.

Hi Dean

It's been just over a year since you made that stupid statement.

Today the REINZ realised figures that showing that Invercargill's median rose 40% in the 12 months to May 2007.

Well done for talking who-knows-how-many people out of investing in NZ's fastest appreciating metro market (with comments you made here and elsewhere).

/me claps

M

See - REINZ Market Trends

 

[topcropper]

Hey Pitt Street,

Are you down there just to participate and be closer to the boom, or do you really like the place? Just being nosey, as I read on another thread how you love and grew up in 'gods garden' coastal northern NSW.

Most be a good life adventure moving and living in a different place.

I love south NZ myself, but don't think I could stand the winter.

See ya's.

 

[pooomba]

No real point responding Pitt St as you are just being obnoxious for no reason but teh fact is plenty of people in small towns including Invercargill have major tenancy issues, high maintenance and have missed out on increasing their net worth by buying cheap c**p in small towns. The last year has proven my point actually. Many of my students are trying to get out of their small town IP's because they see how much money they have lost.

But you don't really care about good investing, you seem to just like being critical of people you don't know for no good reason. You really must learn to move away from such negative energy, you'll end up with cancer or arthritis.

 

[GreenTreeFrog]

Check this one out...

http://www.realestate.co.nz/405905?min_price=1800000

3yo building, International Student Accommodation, 100% tenanted since completed. First year: $180k, Second year: $210k, Third year: $230k (figures from RE)

*sigh* if only I had the deposit!

 

[geoffw]

The price is presumably NZD... so you probably can afford the deposit

 

[MarkB]

No real point responding Pitt St as you are just being obnoxious for no reason

Well when you have been completely shown up, unless the next words that pass your lips are "Okay, I admit, I was wrong", then why say anything.

No there is a reason Dean, and it is to show the fallability of "experts".

People pay money to listen to you.

teh fact is plenty of people in small towns including Invercargill have major tenancy issues, high maintenance

Actually, here's fact that is verifiable - unlike any of yours - of the multiple tenancies I own in Invercargill, they have always attracted good tenants, had low vacancy rates, and minimal maintaince.

But then, I've always bought above median (which, btw, would still be less than $200k).

What would that sort of money buy you in the big smoke - a former p-lab in South Auckland?

Mum and Dad investors can enter the Invercargill real estate market, and buy properties in good areas, at a very affordable level. Though anyone who didn't buy a year ago because they listened to you is now faced with a market that has a median of $189k, not $135k like it was when you regretfully opened your uninformed mouth.

But you don't really care about good investing,

I'm not the one who advised people against buying in the fastest appreciating city in NZ - so when it comes to "good investing" you don't get to criticise me.

You really must learn to move away from such negative energy, you'll end up with cancer or arthritis.

And you really ought to stop making comments that are completely baseless - because one day someone alot nastier than me will hold you accountable.

And don't worry, I have lots of positive energy - few things in life give me as much pleasure as showing up people who ought to know better.

M

ps. And don't be too upset at the pasting I'm giving you - this is an Australian site, after all. Thus far I've resisted the considerable temptation to post as much over on propertytalk in NZ.

 

[MarkB]

And, for those who are interested given the title of this thread, over the past 12 months the $NZD has appreciated in value roughly $10% against the $AUD.

This, of course, would have only further increased the CG experienced by any Australian investors over the past 12 months.

M

See - RBA exhange rate data

 

[MarkB]

Are you down there just to participate and be closer to the boom, or do you really like the place?

The much better half calls this part of the world home.

It took me 6 months to get a job (no demand for economists down here), but I feel like I'm settling in.

Just being nosey, as I read on another thread how you love and grew up in 'gods garden' coastal northern NSW.

Yeah, I did. Born and raised in Ballina. Uni (first time round) in Lismore. Worked for the NAB in both Lismore and Byron Bay.

Most be a good life adventure moving and living in a different place.

I love south NZ myself, but don't think I could stand the winter.

It's very interesting being in another culture (even one as similiar to Australia), though I am told I am losing my accent.

It's a very pretty part of the world, but, yes, it gets cold. (Though back in Oz, I spent a some time in Armidale and Canberra - both are colder than down here)

M

 

[jym]

Hullo P St

You said:

ps. And don't be too upset at the pasting I'm giving you - this is an Australian site, after all. Thus far I've resisted the considerable temptation to post as much over on propertytalk in NZ.

If you did it would probably be moderated out.