Hi guys
Just spent a week in the South Island, mainly for family reasons,
but spent a couple of days looking at properties in Dunedin & Christchurch.
Dunedin prices are booming and there is nothing to buy. Anything good is snapped up in hours. It is a university city that has 200 odd students without accommodation for this year. Close to uni the returns are $65 per bedroom. Sale prices up about 28% in last 6 months.
Central Otago (Queenstown, Wanaka etc)
These places are now very expensive so people are looking at areas further out. Cromwell, Alexandria are now in big demand with little to buy. Buying "lifestyle" properties now means Otematata ,Omarama and down towards Oamaru.
The town near where I was staying (Kurow) is at the bottom of the lakes area. It has a river but not much else. Beginning of last yr there were 51 houses for sale - now nothing at all. Prices gone from about 30k to 70-80k.
Christchurch was harder to read. Certainly not much on the market. ChCh is quite strange in that the most expensive areas are on the flat and away from the water (beats me why). But Ltylleton, the port area & hilly has moved upwards a lot in the last few months. What was $150k now low 200's.
Tourism is really booming over there. Most tourists I've ever seen in the South Island.
All the agents mentioned that a lot of Northern Hemisphere money is coming into the country & this is really pushing prices up.
NZ is "safe".
My 2 fingers are worn out so enough for now.
ani
Just spent a week in the South Island, mainly for family reasons,
but spent a couple of days looking at properties in Dunedin & Christchurch.
Dunedin prices are booming and there is nothing to buy. Anything good is snapped up in hours. It is a university city that has 200 odd students without accommodation for this year. Close to uni the returns are $65 per bedroom. Sale prices up about 28% in last 6 months.
Central Otago (Queenstown, Wanaka etc)
These places are now very expensive so people are looking at areas further out. Cromwell, Alexandria are now in big demand with little to buy. Buying "lifestyle" properties now means Otematata ,Omarama and down towards Oamaru.
The town near where I was staying (Kurow) is at the bottom of the lakes area. It has a river but not much else. Beginning of last yr there were 51 houses for sale - now nothing at all. Prices gone from about 30k to 70-80k.
Christchurch was harder to read. Certainly not much on the market. ChCh is quite strange in that the most expensive areas are on the flat and away from the water (beats me why). But Ltylleton, the port area & hilly has moved upwards a lot in the last few months. What was $150k now low 200's.
Tourism is really booming over there. Most tourists I've ever seen in the South Island.
All the agents mentioned that a lot of Northern Hemisphere money is coming into the country & this is really pushing prices up.
NZ is "safe".
My 2 fingers are worn out so enough for now.
ani
