new zealand

[demeo]

Hi Guys , we have with the help of Jans expertise managed to ride the last 7 year property boom in the West , we have cashed ourselves up and are heading to the North Island of NZ based in and around Auckland , my question is does anyone have a contact or similar forum in NZ for us to research our next investment steps in NZ ?? any help greatly appreciated big or small .

Regards Chris

 

[GreatPig]

Try PropertyTalk.

GP

 

[Philby]

also here

http://www.landlords.co.nz/

for research
http://www.interest.co.nz/

http://www.sorted.org.nz/

my view of NZ

At the moment banks are getting tight with lending criteria,, lots of mortgagee sales, while petrol is nudging towards 2bucks a litre and the minimum wage is $12
most jobs have no penalties/overtime rates, work on public holidays is time and half and day in lieu.
Grocery shopping bill is higher than when we lived in darwin. 12 pack of beer is $20.00

An election year, where the foreign minister is not in the ruling party(labour), due to the voting system - MMP. A very confused country.

Like there road rules, right turning cars give way to vehicles turning left. where they drive cars like they stole them, and a road system that reminds me of country victoria in the 1950s.

We are considering returning back home(darwin - our PPOR) or caboolture where our IP is. Once our house at matapouri (4hrs north of auckland) is finished and we have a chance to enjoy living in it we will head back across the ditch, and leave this 3rd world country for awhile.(no offence to kiwis)
We will be back, but better prepared for the step back in time.

Sounds doom and gloom, but my opinion only. We heard the same sort of "advice" but we love where we are, and we just enjoy the space.

 

[Kennethkohsg]

Dear Philby,

1. What are your views on the Queenstown holiday homes and property market at this point in time as well as over the next 5 years?

2. Looking forward to learning further from you please.

3. Thank you.

Cheers,
Kenneth KOH

 

[Tim]

Hi Guys , we have with the help of Jans expertise managed to ride the last 7 year property boom in the West , we have cashed ourselves up and are heading to the North Island of NZ based in and around Auckland , my question is does anyone have a contact or similar forum in NZ for us to research our next investment steps in NZ ?? any help greatly appreciated big or small .

Regards Chris

Chris,

I have several properties in NZ and my opinion is that there won't be any rush in the next 2 years to buy anything over there.

Tim

 

[Nigel Kibel]

Propertytalk is a great site. There may some good buys in New Zealand in the near future. It really depends on how far the market falls. Interest rates are around 10.25% at present.

 

[crc_error]

Propertytalk is a great site. There may some good buys in New Zealand in the near future. It really depends on how far the market falls. Interest rates are around 10.25% at present.

sheez 10.25%! and we are complaining at our rates here!

what are term deposit rates there? prehaps its a good place to park money?

 

[allblack]

sheez 10.25%! and we are complaining at our rates here!

what are term deposit rates there? prehaps its a good place to park money?

Interest rates in NZ are always 1-2% above Australia. Yes you get good term deposit rates in NZ but you are at the mercy of exchange rates. A lot of Aussie investors in NZ would have lost out lately due to the weakening of the $NZ against the $A as well as house prices falling in NZ. As an ex kiwi I can tell you the NZ property market is a lot more volatile than the Australian market. I can remember in 1997 when my house in Auckland went down 20% in value in 10 months. I sold it in 2003 for $5,000 more than I paid for it!!.

 

[tropic]

I wen to Queenstown Oct last year and stayed in a duplex nicely refurbished house with a beautiful view to lake Wakatipu. Incredible beautiful view around Queenstown.
I asked the agent that looked after the place and she said it worth around 500k. For short term stay arrangement owner can get around 15 weeks/year.
I thought 15 weeks/year is not very appealing. We paid 160 per night.

 

[lizzie]

We will be back, but better prepared for the step back in time.

i'm kinda hoping hubby gets a transfer over there ... i want to just slow down for a loooong while on a few acres with a large garden and a pony for junior.

then i will have time to indulge in my several on-the-side hobbies that could be successful ventures if i just gave them time.

but you're right. nz is in the middle of a big housing slump. interest rates are about normal compared to the aussie. nz is more susceptiable to worldwide recession fluctuations than the aussie.

there is also a large proportion of the population who are allergic to working for a dollar - which doesn't help. they also have a "tall poppy" mentality more pronounced than here.

 

[Philby]

Dear Philby,

1. What are your views on the Queenstown holiday homes and property market at this point in time as well as over the next 5 years?

2. Looking forward to learning further from you please.

3. Thank you.

Cheers,
Kenneth KOH

Sorry Kennethkohsg, I am too far from Queenstown to give you any solid info.
It is a seasonal town - winter is the big ski season, while summer is still busy/less hectic with adventure/adrenalin junkies. Tourism is the "only" industry. High rents.

Lizzie, the place has taken a nose dive into a recession/depression from what the latest headlines are screaming. And I think they could be half right, the loan shark shops are closing down on a regular basis in my part of enzed. Dairy farmers are making a good earn, while the rest of the country is struggling.

 

[lizzie]

Lizzie, the place has taken a nose dive into a recession/depression from what the latest headlines are screaming. And I think they could be half right, the loan shark shops are closing down on a regular basis in my part of enzed. Dairy farmers are making a good earn, while the rest of the country is struggling.

give it six to twelve months - and then i'd buy ... rock bottom and just before the upswing starts.

although i have my eye on a very tidy 10acres in karaka (snobsville/race horse breeding area of auckland) that i know i could make a nice improvement in value on ... now if only that transfer would come thru (then i'd also not have to deal with his b***h of an ex-wife over the kids either).

 

[poperr]

Fortunately I just sold an apartment in Auckland, bought for 240 NZD 2 years ago, sold for 270k. (I jumped at the offer in the present state). The other good thing was that I bought with 1NZD = 1.22 AUD, sold at 1NZD = 1.14. It seems NZD to AUD goes on a cycle between 1.20 to 1.10 range.

Definately a buying time in NZ in about a year...

Rob

 

[kum yin lau]

Hi, same thing here. Any NZ investments should be married to a forex mindset.

I made the mistake of buying student accommodation, got lured by the promise of 'stable' set & forget type investments. Still not too bad, getting around 7% yields but the money would have made far better returns in good old Oz.

But because I'm already into NZ, I'm still keen to buy more, preferably those that I can more actively deal with.

Btw, I paid 1.06 Aud & it's now worth 1.16-1.18. The 1st lot was @ 0.92

So overall, it's still a good longterm steady investment.

Keep the stories coming, especially about where to buy.
KY